Colorado
Colorado Revised Statutes § 38-38-101. Non-Judicial foreclosure state.
Judicial Type
Non-Judicial
Redemption
75 days for liens evidenced by certain instruments recorded
Deficiency
Lender must elect: pursue deficiency OR obtain longer redemp
Mediation
No mandatory statewide program, but some counties have volun
Statute Citation
Colo. Rev. Stat. §§ 38-38-100.3 to 38-38-902
Redemption Period
75 days for liens evidenced by certain instruments recorded before January 1, 1990; for most residential properties: depends on deficiency waiver. If lender waives deficiency: longer redemption periods apply. Generally, 75 days from sale date for most properties.
Deficiency Judgment Rule
Lender must elect: pursue deficiency OR obtain longer redemption period. If lender seeks deficiency, the court may limit to the difference between debt and fair market value. The Colorado deficiency regime incentivizes lenders to waive deficiency in exchange for a streamlined process.
Notice Requirements
Notice of election and demand must be recorded and mailed to borrower. Combined notice published 5 times in newspaper. Notice of sale posted on property. Actual notice to borrower is constitutionally required. Colorado has detailed public trustee foreclosure procedures.
Mediation Program
No mandatory statewide program, but some counties have voluntary programs.
Key Provisions
- Public trustee conducts sale under power of sale — no court involvement
- Standard cure period: up to 15 days before sale (11 days if published)
- Borrower may cure by paying all delinquent amounts plus costs to cure
- Public trustee must be transparent and follow strict statutory procedures
- Lender must file foreclosure with public trustee, not the court
Homeowner Protections
- Public trustee system provides a neutral third party overseeing the sale
- Right to cure up to 15 days before sale
- Deficiency waiver incentive: lenders often waive deficiency for a smoother process
- Borrower receives actual notice at multiple stages
Frequently Asked Questions
What is a 'public trustee' foreclosure in Colorado?+
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