Colorado Foreclosure Laws

From Wiki

[edit] Colorado Foreclosure Laws

Attorney General’s Office

1525 Sherman Street, 5th floor

Denver, CO 80203

Ph: (303) 866-4500

Fax:(303) 866-5691

[edit] STATE SUMMARY:

First Legal Action: Filing of Fair Docs with Public Trustee

'Time Frame from 1st Legal Action to Sale Action: Varies by Process; 110 Days-7 Months

Final Legal Action: Redemption Confirmed

Judicial Foreclosure Available: Yes

Non-Judicial Foreclosure Available: Yes

Method Primarily Used: Non-Judicial

Security Instruments: Deed of Trust, Mortgage

Right to Redemption*: Redemption period only applies to foreclosures with a Notice of Election and Demand filed prior to 2008. Yes for 75 days(If Notice of Election and Demand filed prior 2008)

Deficiency Judgments Allowed: Yes

Foreclosure Postponement Available: Yes

Super Lien State:

Certified Breach Letter State: No

Lender Retains Copy of the Breach Letter: No

Eligible for Tax Advance Repayment Plans: Yes

Statutory State: No

*A borrower’s right to repurchase property lost in foreclosure sale.

** A judgment against ones person making the borrower responsible for the remaining balance on the loan after a foreclosure/sheriff sale.