- Who sends it
- The county public trustee, by mail to everyone on the lender's mailing list, and by newspaper publication
- What it starts
- The countdown to the sale, with a cure deadline 15 calendar days before it
- Do this first
- Write down the sale number and sale date, then count back 15 and 14 calendar days
What this document is in Colorado
C.R.S. 38-38-103 calls it the combined notice. Colorado's confirmation deed form describes it as the "combined notice of sale and right to cure and redeem." It repeats the details of the notice of election and demand and adds the sale date and place, and for online sales the web address and where to find public computers.
It must say that a notice of intent to cure must be filed with the officer at least 15 calendar days before the first scheduled sale date or any date to which the sale is continued, and, in bold, that if the sale is continued the cure deadline may also be extended. It also says the lien being foreclosed may not be a first lien.
It must tell you that if you believe your servicer broke Colorado's single point of contact or dual tracking rules, you may complain to the Colorado attorney general, the CFPB or both, with contact information for each, but that a complaint will not stop the foreclosure. Copies of the cure and redemption statutes must be sent with it (C.R.S. 38-38-103(4)).
What it does and does not mean
- It does not mean the sale will happen on that date. The lender still needs a court order under Rule 120, and sales are often continued.
- A sale that is not held and not formally continued is treated as continued one week at a time (C.R.S. 38-38-109(1)(a)).
- The line about a notice of intent to redeem within 8 business days after the sale is for junior lienholders. As the homeowner you have no right to buy the home back after a deed of trust sale.
- It is also published in a newspaper once a week for five weeks in a row, starting 45 to 60 days before the first sale date (C.R.S. 38-38-103(5)).
The deadlines it starts and how to count them
- Mailings: the first copy within 20 calendar days after recording, the second 45 to 60 calendar days before the first sale date (C.R.S. 38-38-103(1)).
- Notice of intent to cure: count back 15 calendar days from the sale date and file before then (C.R.S. 38-38-104(1)). If the sale is continued, count back from the new date.
- Loss mitigation proof: no later than 14 calendar days before the sale, give the public trustee the servicer's written confirmation of a complete application dated at least 37 days before the sale, or of an accepted option (C.R.S. 38-38-103.2(3)).
- Cure payment: by 12 noon the day before the sale (C.R.S. 38-38-104(2)(b)).
- If the lender sends an amended mailing list after the second mailing, the sale is continued at least 65 calendar days and you get a new notice at least 45 days before the new date (C.R.S. 38-38-103(2)(a)).
See a Colorado sale date is set for a step-by-step plan.
What to do this week
- Put the sale number and sale date on a calendar, with the 15-day and 14-day cutoffs marked.
- Call the public trustee's office named on the notice. Confirm the date and ask how to file a notice of intent to cure and what proof of ownership it needs.
- If you want to catch up, file the notice of intent to cure early. You will then get a cure statement.
- If your servicer confirmed a complete application, take that letter to the public trustee now, not on day 14.
- Call the Colorado Foreclosure Hotline at 1-877-601-4673 and read how to stop foreclosure in Colorado.
Help and scam warnings
- Once the notice is published, rescue offers increase. A consultant cannot collect any fee until every promised service is done (C.R.S. 6-1-1101 to 6-1-1121).
- If the home later sells for more than you owe, the public trustee holds the extra (the overbid) for you. Paid deals to recover it from the public trustee are not enforceable (C.R.S. 38-38-111(2.5)(c)). See Colorado surplus funds.
- Free legal aid is available from Colorado Legal Services. The Colorado foreclosure help page lists more.
The rest of the Colorado process
See how foreclosure works in Colorado, the timeline, ways to stop it and free help in Colorado, or read the national guide to this letter.
Common questions
Why did I get two Colorado combined notices?
The law requires the public trustee to mail it twice: within 20 calendar days after the notice of election and demand is recorded, and again 45 to 60 calendar days before the first sale date (C.R.S. 38-38-103(1)).
What does "notice of intent to redeem" on my Colorado notice mean for me?
It is for lienholders junior to the foreclosed loan, such as a second mortgage, who must file within 8 business days after the sale (C.R.S. 38-38-302). Homeowners have no redemption right after a Colorado deed of trust foreclosure.
My Colorado sale was continued. Does my cure deadline move?
The 15 calendar days are counted back from the first sale date or any date the sale is continued to, and the notice says in bold that the cure deadline may be extended (C.R.S. 38-38-103(4)(a)). Call the public trustee to confirm your new deadline.
Other Colorado letters
- Notice prior to residential foreclosure (hotline notice)Before a Colorado lender can file a foreclosure with the county public trustee, it must mail you a notice with the Colorado foreclosure hotline number and a direct line to its loss mitigation staff. It is not a foreclosure filing, but it means one can start in as little as 30 days.
- Notice of election and demandIn Colorado, the lender starts a foreclosure by filing a notice of election and demand with the county public trustee, who records it. Its recording date sets the first sale date 110 to 125 calendar days later for most homes. It is not a sale and not an eviction.
- Rule 120 notice of hearing (motion for order authorizing sale)Before a Colorado public trustee can sell your home, the lender must get a court order authorizing the sale under Rule 120. The notice of hearing must be posted on your home at least 14 days before the hearing. To be heard, you file a Verified Response (JDF 621) at least 7 days before the hearing, or the judge may order the sale without a hearing.
- Cure statementIn Colorado, after you file a notice of intent to cure with the public trustee, the lender must give the public trustee a cure statement listing everything you must pay to catch up. The public trustee sends it to you. You must pay the total to the public trustee by 12 noon the day before the sale.
- Demand for possession and eviction summons after a public trustee saleAfter a Colorado public trustee sale, the buyer gets a certificate of purchase, and title passes 8 business days after the sale if no lienholder redeems. The buyer must then demand possession in writing and, if you stay, file an eviction case. The summons sets a court date 7 to 14 days after it is issued.