Friday, May 20, 2011

Housing News Digest, May 20

Colorado loans in foreclosure down in Q1
The percentage of mortgage loans in some form of foreclosure and new 30-day mortgage delinquencies in Colorado both fell in the first quarter, according to data released Thursday by the Mortgage Bankers Association.

Warren Village finishes renovations
Using a $5.4 million grant from the U.S. government’s federal stimulus fund, Warren Village completed renovations to its 93-unit housing project, 1323 Gilpin St., for low-income, single-parent families.

CU-Boulder incoming freshmen await housing, roommate assignments
Massachusetts high school senior Alie Dolan has decided to become a Buff.

After months of awaiting acceptance letters and weighing options, Dolan chose the University of Colorado as her new home, come August.

But this summer, Dolan has replaced the anticipation of acceptance with the anxiety of receiving her roommate and housing assignment.

2010 Census: Colorado households of one have grown in past decade
One is the loneliest number — but it's popular in Colorado, where nearly 28 percent of households are occupied by a single person.
In Denver, the number is even higher. According to 2010 U.S. census data made public today, 40.6 percent of the city's households are composed of a person living alone.

Love Funding Closes $26.1 Million Refinancing for Fox Ridge Apartments in Longmont, Colorado
Denver - Love Funding, one of the nation’s leading providers of multifamily housing loans, announced the closing of a $26.1 million loan refinancing for Fox Ridge Apartments, a 328-unit apartment complex in Longmont, Colorado.

Peter Wessel, first vice president and senior loan originator in Love Funding’s Denver office, secured the loan through the U.S. Department of Housing and Urban Development’s 223(a)(7) loan program. Utilizing the HUD mortgage insurance enabled Wessel to lock in a 40-year non-recourse loan with a low, fixed interest rate, improving the property owner’s cash flow by more than $350,000 a year.