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The -- first installment of Fox News people speak for homeowners in Colorado.
There is a new initiative that may help some Americans stay in their homes.
Douglas Kennedy has more now live from our newsroom here Douglas -- you find out yet bill it's good news for homeowners but bad news for some banks who claim it's also bad news for the Colorado economy.
And one -- Duncan is too.
1010 Cheryl Hoffman face the nightmare of foreclosure.
The problem was a lender trying to kick her out of her family home was not the lender she signed her mortgage agreement whipped.
Do you discovered your mortgage had been bought and sold so many times.
It was difficult to tell who actually own your home.
That's right it's unclear who the Lander was when they foreclosed and it's unclear today in fact Hoffman's four bedroom Santa Fe ranch here in golden Colorado sat empty for months.
And not because there weren't any buyers.
She says are multiple lenders were fighting over ownership.
And thus couldn't transfer title now with ownership was unclear.
How did they force foreclosure -- And that is the purpose of this ballot initiative.
The ballot initiative Hoffman now supports will require all lenders in Colorado to prove they own the property.
Before they can foreclose.
Critics call it unnecessary.
And say it will hurt responsible homeowners.
They're -- in depth with the increased costs as a result of this.
Don Childers -- the Colorado bankers association.
Which vehemently opposes the measure.
The proposal basically.
Adds a lot of needless red tape.
That drives up the cost for any lender.
And that gets reflected in future interest rates and fees to Colorado bankers association says this measure will basically create more costs that will eventually be passed on to all homebuyers.
What do you say to that.
I think that people's property rights are our fundamental to investing in home or any other property in Colorado.
She says without the right to clear title property ownership becomes worthless.
That's it from here -- back -- aimlessly there where that goes thank you Douglas Kennedy and our newsroom here in New York.
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