Here is a summary of foreclosure laws and rules for the State of Colorado:
- Both judicial and non-judicial foreclosure is available, but the non-judicial deed of trust sale is overwhelmingly preferred.
- Colorado has an impartial, accountable, "public trustee" appointed by the Governor for each county, who handles power of sale foreclosures on request.
- If the loan default is due to nonpayment, then the borrower can give notice of an intention to cure the default at least seven days before the foreclosure sale.
- The lender may sue for a deficiency.
- The borrower has 75 days after the date of sale to redeem.
If you are interested in reading the actual statutes relevant to mortgage and foreclosure in Colorado those laws are available online.
Learn more about what the above procedures and rules mean. Review the homeowner foreclosure guide on this website.
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