Colorado

For homeowners facing foreclosure in Colorado, the following is a summary of the state’s foreclosure laws:

Judicial Foreclosure

Foreclosures in Colorado can be judicial, meaning the bank must file a lawsuit in court in order to foreclose.

Nonjudicial Foreclosure

Foreclosures in Colorado can also be nonjudicial but a court must confirm the sale.

Foreclosure Notification

After the public trustee receives the foreclosure notice, they will set a sale date that is no less than 110 days and no more than 125 days from the notice recording date. In certain cases, homeowners may delay foreclosure for up to 90 days. Within 15 days of submitting the foreclosure notice the bank must serve the homeowner with a foreclosure notice, as well as deferment information, or post it on their property. The public trustee must send a Notice of Sale and Right to Cure and to the borrower on two separate occasions and publish a notice in a local newspaper.

Reinstatement and Redemption

The homeowner can file an intent to cure the default 15 days before the sale date. They will have up to noon on the day of the sale to pay the amount due. The property cannot be redeemed after a nonjudicial foreclosure.

Colorado Protections for Service Members

Colorado law provides protections in accordance with the federal Service Members Civil Relief Act.

Banks may not foreclose on service members in active duty for over 30 days.

Deficiency Law

The bank may request a deficiency judgement following a nonjudicial foreclosure within six years of the sale date if the home has been sold at the fair market value.

Eviction Notice

The buyer of the foreclosed home must give the homeowner notice before initiating can the formal eviction process in court.

For information regarding how to avoid foreclosure in Colorado visit HUD.gov.

Colorado

For homeowners facing foreclosure in Colorado, the following is a summary of the state’s foreclosure laws:

Judicial Foreclosure

Foreclosures in Colorado can be judicial, meaning the bank must file a lawsuit in court in order to foreclose.

Nonjudicial Foreclosure

Foreclosures in Colorado can also be nonjudicial but a court must confirm the sale.

Foreclosure Notification

After the public trustee receives the foreclosure notice, they will set a sale date that is no less than 110 days and no more than 125 days from the notice recording date. In certain cases, homeowners may delay foreclosure for up to 90 days. Within 15 days of submitting the foreclosure notice the bank must serve the homeowner with a foreclosure notice, as well as deferment information, or post it on their property. The public trustee must send a Notice of Sale and Right to Cure and to the borrower on two separate occasions and publish a notice in a local newspaper.

Reinstatement and Redemption

The homeowner can file an intent to cure the default 15 days before the sale date. They will have up to noon on the day of the sale to pay the amount due. The property cannot be redeemed after a nonjudicial foreclosure.

Colorado Protections for Service Members

Colorado law provides protections in accordance with the federal Service Members Civil Relief Act.

Banks may not foreclose on service members in active duty for over 30 days.

Deficiency Law

The bank may request a deficiency judgement following a nonjudicial foreclosure within six years of the sale date if the home has been sold at the fair market value.

Eviction Notice

The buyer of the foreclosed home must give the homeowner notice before initiating can the formal eviction process in court.

For information regarding how to avoid foreclosure in Colorado visit HUD.gov.

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