3855 Precision DR 150
Loveland, CO 80538
Local: (970) 776-4336
Fax: (970) 667-3459

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We take your financial best intersts to heart when you are buying or refinancing your home! We are a local lender with a national presence.



Read these articles to educate yourself on the mortgage process and industry.

Corp Lic: CA: 4170013;

Regulated by the Colorado Division of Real Estate.; Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act;

How to Avoid Foreclosure

How to Avoid Foreclosure

When you miss your mortgage payments, foreclosure may occur.  This is the legal means that your mortgage company can use to repossess (or take over) your home.  When this happens, you must move out of your house.  If your property is worth less than the total amount you owe on your mortgage, your mortgage company or the U.S. Department of Housing and Urban Development (HUD) could seek a deficiency judgment. If that happens, you not only would lose your home, you also would owe your mortgage company or HUD the remaining balance on your debt.  Foreclosure or a deficiency judgment could seriously affect your ability to qualify for credit in the future.  So you should avoid it if at all possible!

DO NOT IGNORE THE LETTERS FROM YOUR MORTGAGE COMPANY.  If you are having problems making your payments, contact your mortgage company immediately.  Explain your situation. Be prepared to provide specific financial information, such as your monthly income and expenses.  Without this information, your mortgage company may not be able to help.  Stay in your home for now.  You may not qualify for assistance if you abandon your property.

Some of your options include the following:

When your mortgage company files a partial claim, HUD will pay your mortgage company the amount necessary to bring your mortgage current. You must execute a promissory note, and a lien will be placed on your property until the promissory note is paid in full.  The promissory note is interest-free and will be due if you sell or leave your property or when your mortgage matures.


An additional benefit of this option is the assistance you will receive with the seller-paid closing costs.

A housing counseling agency can help you determine which, if any, of these options may meet your needs.  A good resource is; their phone number is 888-995-HOPE.  You should also discuss the situation with your mortgage servicer.

One last thing, beware of scams!  Solutions that sound too simple or too good to be true usually are. If you’re selling your home without professional guidance, beware of buyers who try to rush you through the process.  Unfortunately, there are people who may try to take advantage of your financial difficulty.  Be especially alert to the following:

You can find a HUD-certified housing counselor at

Here are several precautions that should help you avoid being “taken” by scam artists:

Please do not hesitate to contact your Academy Mortgage Loan Officer if you have any questions or are experiencing any difficulties with your mortgage.


This information deals with Chapter 7 consumer bankruptcy.  Each state has its own bankruptcy laws, so you need to check with your state for details.  Information dealing with Chapter 13 bankruptcy and consumer debt restructuring is not discussed above.  The information provided is for general information purposes only and is not intended to be a legal opinion nor legal advice, nor is it intended to be a complete discussion of all the issues related to Chapter 7 consumer bankruptcy.  Every individual’s factual situation is different, and you should seek independent legal advice regarding your specific situation.



Three Key Factors in Qualifying for a Home Loan

When a mortgage company makes a decision about a home loan application, the lender primarily considers three basic factors:  (1) your ability to repay the loan; (2) your willingness to repay the loan; and (3) the collateral.

Ability to repay the mortgage is determined by verifying your current employment and analyzing your total income.  Lenders prefer for you to have been employed at the same place for at least two years or to at least be in the same line of work for a few years.  Your estimated monthly payment will be compared to your monthly income and debt.

Willingness to repay is influenced by how you have paid previous loans and by examining how the property will be used.  Willingness can be gauged by your credit report and previous commitments to pay rent and/or utility bills. 

Collateral is property that is pledged by a borrower to protect the interests of the lender.

It is important to remember that there are a set of rules each lender uses to assess these factors on each loan and determine if the lender will ultimately lend you money.  These rules are called a Credit Policy.  Each loan application is evaluated individually on a case-by-case basis.  Many loan applications may come up short in one area, but make up for it with other strong points.  These compensating factors may include: a large down payment, extensive educational background, or overall financial health.  Securing mortgage insurance to protect a lender in the event you are unable to make your payments may also impact your qualifying for a home loan.

Contact your Academy Mortgage Loan Officer with any questions about qualifying for a home loan.


What You Need for Your Loan Application

Use the following checklist to be sure you have everything you need for your loan application.

Please contact your Academy Loan Officer with any questions or concerns.