Colorado Foreclosure Timeline and Laws

Colorado Foreclosure Process and Procedure

If you default on your mortgage, your lender can institute foreclosure proceedings against.

Colorado foreclosures are conducted by non-judicial foreclosure proceedings. Judicial foreclosures are conducted when there is no power of sale clause contained in the deed of trust.   

Notice Requirements for Foreclosure in Colorado

The lender must file a notice of election to foreclose with the county recorder’s office where the property is located and record it no later than 10 days after filing. The notice of sale containing the date, time and place of sale, description of the default, lender’s election to sell and recording information from the deed must be published five consecutive weeks in a newspaper of general circulation, and mailed to the borrower and lien holders at least 120 days after first publication. The borrower may file an intent to cure notice with the Public Trustee at least 15 days before the sale.

Colorado Deficiency and Anti-Deficiency Laws

Colorado allows deficiency judgments if the property sells for less than the loan amount. The borrower may present evidence their lender’s bid is less than a good faith estimate of the property value to avoid the judgment.

Colorado Redemption Rights

Colorado’s post-sale statutory right of redemption allows the borrower to redeem the property 75 days after the sale by submitting an intent to redeem at least 14 days prior to the end of the redemption period.  

Colorado Assistance, Special Programs, Government Help, and Law Updates

Foreclosure Programs:

• Colorado Foreclosure Prevention Counseling -HUD
• The Home Affordable Mortgage Modification Program
• The Home Affordable Refinance Program
• The Home Affordable Foreclosure Alternatives Program
• FHA Secure
• Hope for Homeowners

Foreclosure Lawyer

A foreclosure lawyer can help you find a solution to avoid foreclosure. Options include: refinancing, reinstatement, deed in lieu, mortgage modification, short sale or bankruptcy.