- Who sends it
- Your lender's attorney files it with the county public trustee, who records it; you see its details in the public trustee's combined notice
- What it starts
- A first sale date 110 to 125 calendar days after recording
- Do this first
- Find the recording date and sale number, call the public trustee's office, and call a housing counselor
What this document is in Colorado
Most Colorado home loans use a deed of trust held by the county public trustee, a county official. When a lender declares a default and elects to sell, it files a notice of election and demand with the public trustee along with the loan papers, a combined notice and a mailing list (C.R.S. 38-38-101(1)).
The public trustee reviews the filing and, if it is complete, records the notice with the county clerk and recorder within 10 business days (C.R.S. 38-38-102). The notice names the original borrowers and lender, the current holder, the date and recording details of the deed of trust, the original and current principal balance, the legal description, the default the foreclosure is based on, and the lender's attorney with phone number and bar number (C.R.S. 38-38-101(4)).
What it does and does not mean
- It does not mean your home has been sold. The sale can only happen after a court order under Rule 120 and on the date in the combined notice.
- It is a public record, so expect letters from companies offering help.
- A mistake in the principal balance or another minor error does not make the notice invalid (C.R.S. 38-38-101(5)).
- It does not end your right to catch up. When the default is missed payments, you can cure by filing a notice of intent to cure at least 15 calendar days before the sale (C.R.S. 38-38-104).
The deadlines it starts and how to count them
- First sale date: no less than 110 and no more than 125 calendar days after the recording date, for property that is not agricultural (C.R.S. 38-38-108(1)(a)). Agricultural property is 215 to 230 days.
- First combined notice: the public trustee mails it no more than 20 calendar days after recording (C.R.S. 38-38-103(1)(a)).
- Rule 120 hearing: the court hearing date must be no later than the day before the last day to file a notice of intent to cure (C.R.S. 38-38-105(2)(a)).
- Loss mitigation proof: give the public trustee your servicer's written confirmation of a complete application (dated at least 37 days before the sale) or of an accepted option no later than 14 calendar days before the sale (C.R.S. 38-38-103.2(3)).
- Continuances: a sale cannot be continued more than 12 months past the original date, not counting time added by a bankruptcy or a loss mitigation inquiry (C.R.S. 38-38-109(1)(a), 38-38-103.2(4)).
What to do this week
- Call the public trustee in your county. Ask for the sale number, the recording date and the first sale date.
- Count 110 days from the recording date to find the earliest sale date, then count back 15 and 14 calendar days for your cure and loss mitigation cutoffs.
- Send your servicer a complete loss mitigation application now, and ask it to confirm in writing when it is complete.
- Call the Colorado Foreclosure Hotline at 1-877-601-4673 or Colorado Housing Connects at 844-926-6632.
- Watch for a Rule 120 notice of hearing posted on your door. See the Rule 120 notice page.
Colorado help and scam warnings
- Free legal aid: apply to Colorado Legal Services if you have low income. The Colorado foreclosure help page lists more.
- A foreclosure consultant cannot collect any fee until every promised service is done, and cannot take a lien or power of attorney on your home (C.R.S. 6-1-1101 to 6-1-1121).
- If someone offers to buy your home during the foreclosure, the deal must be in writing and you can cancel until midnight of the third business day after signing or noon the day before the sale, whichever comes first.
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 notice of election and demand is the Colorado sale?
For a home that is not agricultural property, the first sale date is 110 to 125 calendar days after the notice is recorded (C.R.S. 38-38-108(1)(a)). Sales are often continued to later dates, but not more than 12 months past the original date except for bankruptcy or a loss mitigation inquiry.
Will I get a copy of the notice of election and demand in the mail?
The public trustee mails a combined notice that must include the information from the notice of election and demand (C.R.S. 38-38-103(4)(a)(I)). You can also ask the public trustee for a copy, since it keeps the notice available for public inspection (C.R.S. 38-38-102(2)).
Can I still apply for a modification after the Colorado foreclosure starts?
Yes. If your servicer confirms in writing a complete application dated at least 37 days before the sale, or that you accepted an option, take that letter to the public trustee no later than 14 calendar days before the sale. The public trustee must ask the lender and continue the sale until it responds (C.R.S. 38-38-103.2(3)).
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.
- 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.