To start the foreclosure process, submit the following, 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.
- Original promissory note or bond if original note has been lost. Some qualified holders may submit documentation in lieu of the note if they fall under the guidelines of C.R.S. §38-38-100.3.
- Notice of Election and Demand for Foreclosure.
- Mailing list, including names and addresses of parties to receive Combined Notice of the sale, right to cure and right to redeem.
- Any additional documents required under foreclosure statutes.
- Payment of required fees.
- An initial deposit of $650 for all foreclosures, or
- a drawdown account with our office.
The above documents should be submitted to the Public Trustee by a Colorado-licensed attorney representing the lender of the loan in default.
Do not submit copies of statutes for mailing. This cost is covered under the cost for postage and copying.
Beginning the Foreclosure
The Public Trustee records the Notice of Election and Demand (NED) and starts the foreclosure proceedings. We must do this within ten business day after receiving the documents from the lender’s attorney.
Once the NED is recorded, 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.
Our office will set a sale date 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.
If it isn’t evident from the legal description of the property whether the property is agricultural, our office will make that determination as provided in C.R.S. §38-38-108.