- Who sends it
- Your lender or its loan servicer, by mail to the address in your deed of trust and your last address in its records
- What it starts
- At least 30 days before the lender can file a notice of election and demand with the public trustee
- Do this first
- Call the Colorado Foreclosure Hotline at 1-877-601-4673 and the loss mitigation number on the notice
What this notice is in Colorado
C.R.S. 38-38-102.5 calls it a notice prior to residential foreclosure. At least 30 days after a default, and at least 30 days before filing a notice of election and demand, the holder of a residential mortgage loan, or its servicer, must mail it to the original borrower who signed the deed of trust.
It must contain three things: the phone number of the Colorado foreclosure hotline, the direct phone number of the lender's loss mitigation representative or department, and a statement that under C.R.S. 6-1-1107 it is illegal for a foreclosure consultant to charge an up-front fee or deposit.
It applies only when the default is missed payments. A person who sells and finances no more than three homes a year is not covered.
What it does and does not mean
- It does not start the foreclosure. The foreclosure begins when the lender files a notice of election and demand with the county public trustee.
- It does not set a sale date and does not mean you must move.
- It is a sign the lender is getting ready to file. Federal rules generally keep a servicer from making the first foreclosure filing until you are more than 120 days behind.
- If you fall behind again within 12 months after getting this notice, the lender does not have to send a new one before it forecloses on the later default (C.R.S. 38-38-102.5(3)(b)).
The deadline it starts and how to count it
- Count at least 30 calendar days from the date the notice was mailed. The lender cannot file a notice of election and demand before then.
- Once that notice is recorded, the first sale date is set 110 to 125 calendar days later for a home that is not farm land (C.R.S. 38-38-108(1)(a)).
- Most servicers must give you a single point of contact by the 45th day of delinquency (C.R.S. 38-38-103.1). Ask for that person's name and direct line.
- The earlier your complete loss mitigation application reaches the servicer, the more protection you have later. Colorado's sale pause needs a servicer letter confirming a complete application dated at least 37 days before the sale (C.R.S. 38-38-103.2(3)).
See how long foreclosure takes in Colorado for the full timeline.
What to do this week
- Call the Colorado Foreclosure Hotline at 1-877-601-4673, which the Colorado Housing and Finance Authority lists, or Colorado Housing Connects at 844-926-6632 for a HUD-approved counselor.
- Call the loss mitigation number printed on the notice. Ask what options exist and ask for an application in writing.
- Send a complete application as soon as you can, in a way you can prove. Keep copies of everything.
- Ask the servicer to confirm in writing when your application is complete. You may need that letter later.
- Read how to stop foreclosure in Colorado for every option and its cutoff.
Scam warnings tied to this notice
The notice itself warns you about up-front fees. Colorado's Foreclosure Protection Act bars a foreclosure consultant from collecting any fee until every promised service is fully done, and you can cancel a consulting contract at any time (C.R.S. 6-1-1101 to 6-1-1121).
- Never pay a deposit to someone who promises to stop your foreclosure.
- Do not sign over your deed to someone who offers to let you rent the home back.
- Housing counseling through the hotline is free. The Colorado foreclosure help page lists more free help and where to complain.
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
How long after the Colorado hotline notice can foreclosure start?
The lender must wait at least 30 days after mailing it before filing a notice of election and demand (C.R.S. 38-38-102.5(2)). Federal rules also generally require you to be more than 120 days behind first.
What is the Colorado foreclosure hotline number?
The Colorado Housing and Finance Authority lists the Colorado Foreclosure Hotline as 1-877-601-HOPE (4673). Your lender's notice must print the hotline number.
I never got this notice. Can my Colorado lender still foreclose?
The statute requires it before filing when the default is missed payments, unless you already got one within the past 12 months for the same loan. If you did not get it, tell a housing counselor or lawyer. You can also raise problems in your response to the Rule 120 notice.
Other Colorado letters
- 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.
- Combined notice of sale, right to cure and right to redeemThe combined notice is the public trustee's notice of the sale date and place, your right to cure and lienholders' right to redeem. You get it twice: within 20 days after the foreclosure is recorded and again 45 to 60 days before the first sale date. The key date it gives you is the 15-day cure deadline.
- 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.