Bennet: Need to Ensure Foreclosure Settlement Delivers Relief for Colorado Families

February 13, 2012 – (RealEstateRama) — Colorado U.S. Senator Michael Bennet released the following statement after the announcement of a $25 billion deal states reached between the U.S. Department of Housing and Urban Development, the U.S. Department of Justice and the country’s largest mortgage servicers over foreclosure abuses and servicing problems. The settlement provides over $200 million in relief to Colorado—most of which should directly benefit struggling homeowners.

“In my travels across Colorado, I have heard from countless responsible homeowners who have hit a bureaucratic brick wall when trying to get a loan modification from one of the country’s biggest mortgage servicers. It’s my hope that this settlement offers them a measure of relief, and I will work hard to ensure that it yields real results for families who are struggling to stay afloat.

“This settlement would not have been possible without the work of the U.S. Attorney John Walsh and Colorado Attorney General John Suthers, both of whom played leadership roles in this important effort. I look forward to working with them to ensure this settlement works for Colorado families.”