PLEASE NOTE: Colorado's foreclosure laws may change from time to time according to legislation adopted by the Colorado General Assembly and signed by the Governor. The laws have changed several times over the past few years. Please refer to the Colorado Revised Statutes, Title 38, Articles 37 and 38 for current laws and their effective dates.
If the Public Trustee's Office is closed on a regularly-scheduled Wednesday sale date because of a County-wide office closure (due to weather conditions, etc.) the sales scheduled for that day will be CANCELLED. Any sales cancelled because the office is closed will be CONTINUED to the next regularly-scheduled Wednesday sale date and NEW BIDS WILL BE REQUIRED. If the County is on a "delayed opening schedule" due to unanticipated conditions, the regularly-scheduled Wednesday sale may not begin at 10:00 but may also be delayed. If you suspect that our office may be closed or on a delayed opening schedule due to weather or other unanticipated conditions, please attempt to call our office Wednesday morning at 720.523.6250 for further information.
Pursuant to laws effective 1/1/2010, in order to start the foreclosure process, the following are submitted to the Public Trustee's office, along with a Referral of the case and a Certificate of the current owner of the debt:
- Original or certified copy of the recorded deed of trust.
- riginal promissory note or bond if original note has been lost. Some qualified foreclosing lenders may submit certain documentation in lieu of the note if they fall under the guidelines of C.R.S. 38-38-100.3(20).
- Notice of Election and Demand for Foreclosure.
- Mailing List, which includes names and addresses of parties to receive Combined Notice of the sale, rights to cure and rights to redeem.
- Additional documents required under foreclosure statutes.
- Payment of required fees.
The above documents are submitted to the Public Trustee by a Colorado-licensed attorney representing the lender of the loan in default. The Public Trustee records the Notice of Election and Demand (NED) and starts the foreclosure proceedings. This must be done within ten business days after receiving the documents from the lender's attorney.
A Combined Notice of Sale, Rights to Cure* and Redeem is sent to parties listed on the mailing list or amended mailing list. The mailing list or lists must include all parties whose interests appear in an instrument recorded subsequent to the foreclosed deed of trust and prior to the recording of the NED. The notices are sent to the addresses shown on the recorded instrument. If there is no address, then by statute it is not necessary to send the notice in care of the county seat.
*If the sale date is continued to a later date, the deadline to file a Notice of Intent to Cure by those parties entitled to cure may also be extended.
The Public Trustee sets the sale date to be not less than 110 calendar days nor more than 125 calendar days from the date of recording of the NED for NON-agricultural properties OR not less than 215 calendar days nor more than 230 calendar days from the date of recording of the NED for agricultural properties.
On the "currently scheduled sale date" the Public Trustee conducts a foreclosure auction sale. At that time, the lender has submitted a written Bid to purchase the property. Other persons (investors etc.) may attend the auction sale and verbally enter Bids in excess of the amount of the lender's Bid. For further information on how the sale is conducted and how to participate in the sale, please see the Bidding and Post Sale Process section of this website and read the "How to Bid at the Public Trustee Foreclosure Sale" document on our "Forms & Policies" page.
NOTICE TO AN OWNER IN FORECLOSURE:
IF YOUR PROPERTY GOES TO FORECLOSURE AUCTION SALE AND IS PURCHASED FOR MORE THAN THE TOTAL OWED TO THE LENDER AND TO ALL OTHER LIEN HOLDERS, PLEASE CONTACT THE PUBLIC TRUSTEE'S OFFICE AFTER THE SALE BECAUSE YOU MAY HAVE FUNDS DUE TO YOU.
After the foreclosure auction sale has occurred, there may be post-sale activities and rights for some parties. Some of those procedures are also explained in the Bidding and Post Sale Process section of this website.
This guide has been established as an INFORMATIONAL tool for citizens. It is not intended to serve as legal advice.