Colorado Foreclosure Laws
Everything you need to know about foreclosure in Colorado: the legal process, your timeline, and your rights as a homeowner.
Process Type
non-judicial
Typical Timeline
60-90 days
Deficiency Judgment
Lender CAN pursue
Right of Redemption
75 days after sale (5 days for agricultural land)
Right to Cure
15 days before sale
Notice Period
45 days
What This Means for You
Uses a public trustee system. The 75-day redemption period can be shortened if the property is abandoned.
Colorado uses non-judicial foreclosure,meaning the lender can foreclose without going to court (through a trustee or power of sale). This process is faster — sometimes much faster. If you want to contest the foreclosure, you'll need to file your own lawsuit.
Deficiency judgment warning: In Colorado, your lender CAN sue you for the difference between what your home sells for and what you owed. If you owe $300,000 and the home sells for $250,000, you could be liable for the $50,000 difference. A short sale with a deficiency waiver or a deed in lieu with a release clause can protect you — negotiate this explicitly with your lender.
What to Do Right Now
- Call your loan servicer (the company you send your payment to — check your mortgage statement). Ask for the loss mitigation department.
- Call a HUD-approved housing counselor at 800-569-4287 (free). They can review your situation and advocate on your behalf.
- Gather documents: Hardship letter, 2 months of pay stubs, 2 years of tax returns, bank statements, monthly budget.
- Do NOT ignore notices. Every day you wait reduces your options. In Colorado, the non-judicial process can move quickly (60-90 days).
- Consult an attorney if you've received a Notice of Default or foreclosure lawsuit. Many offer free initial consultations.