NOTE: Colorado foreclosure laws may be changed from time to time by legislation passed by the Colorado General Assembly and signed by the Governor. Please refer to Colorado Revised Statutes, Title 38, Articles 37 and 38 for the laws and their effective dates. The laws have changed several times over the past few years.
Pursuant to laws effective as of 1/1/2010 and policies of the Adams County Public Trustee, in order to begin the foreclosure process, the following are submitted to the Public Trustee's office:
- Referral letter or instructions from the holder of the evidence of debt (promissory note) or the holder's attorney;
- An ORIGINAL Notice of Election and Demand for Foreclosure (NED) containing: ◦The names of the original grantors (borrowers) of the deed of trust being foreclosed and the original beneficiaries or grantees (lenders) thereof (do not attempt to make "corrections" to what is set forth in the deed of trust);
- The name of the holder of the evidence of debt (the CURRENT lender's name);
- The date of the deed of trust being foreclosed;
- The RECORDING date, county, book/page or reception number of the recording of the deed of trust being foreclosed;
- The amount of the ORIGINAL principal balance of the secured indebtedness (original amount of loan);
- The amount of the OUTSTANDING principal balance of the secured indebtedness as of the date of the NED;
- A legal description of the property as set forth on the deed of trust (do not attempt to make "corrections" to the description in the deed of trust);
- A statement of whether the property described in the NED is all or only a portion of the property then encumbered by the deed of trust being foreclosed (has any portion of the property described in the deed of trust been previously released from the deed of trust?);
- A statement of the violation of the covenant of the evidence of debt or deed of trust being foreclosed upon which the foreclosure is based, which statement shall not constitute a waiver of any right accruing on account of any violation of any covenant of the evidence of debt or deed of trust other than the violation specified in the NED,
- The name, address, business telephone number and bar registration number of the attorney for the holder of the evidence of debt, which may be indicated in the signature block of the NED. OR the name, address and phone number of the holder of the evidence of debt (if the holder is NOT represented by an attorney). The attorney for the holder should be registered in the State of Colorado.
- An Affidavit pursuant to C.R.S. 38-38-101(1)(f) of any changes to the deed of trust, together with the recording date and reception number of the recording of that Affidavit in the records,
- A description of any modifications and/or partial releases of the deed of trust including recording information therefor.
- ORIGINAL deed of trust (or a certified copy of the recorded deed of trust) *
- ORIGINAL evidence of debt (promissory note) that is secured by the deed of trust (or a corporate surety bond equal to one and one-half times the FACE AMOUNT thereof) * ◦*A Qualified Holder (pursuant to C.R.S. 38-38-100.3 (20) and C.R.S. 38-38-101 (2)) or a Qualified Holder's attorney may submit a copy of the recorded deed of trust and/or a copy of the evidence of debt and a certification of qualified holder in lieu of original documents so long as the certification is properly executed according to law.
- A MAILING LIST pursuant to 38-38-100.3(14) containing the names and addresses of the persons/entities required to receive notice of the foreclosure filing;
- A statement executed by the holder of the evidence of debt (or its attorney) identifying, to the best of their knowledge, the name and address of the current owner of the property;
- Only IF ELIGIBLE FOR DEFERMENT, a separate notice document that the property requires posting pursuant to C.R.S. 38-38-802,
- A check ** in the amount of $500.00 payable to the "Adams County Public Trustee" or written authorization to draw that amount from an ACH account, as an advance or deposit against the costs of this foreclosure (**if the foreclosure is being filed by an individual and not by a qualified holder or its attorney, the payment MUST be made by a certified or cashier's check or wire transfer); NOTE: IF THE ORIGINAL PRINCIPAL BALANCE OR THE OUTSTANDING PRINCIPAL BALANCE BEING FORECLOSED IS GREATER THAN $480,000, THE REQUIRED DEPOSIT AMOUNT IS 1/32ND OF 1% OF THE ORIGINAL OR OUTSTANDING PRINCIPAL BALANCE (WHICHEVER IS LESS) IN ADDITION TO THE $500.00; and
- A certified copy (or, if a qualified holder, a copy as certified on the qualified holder statement) of each modification and/or partial release of the deed of trust (as described in the NED), if applicable.
ONLY for foreclosures started prior to 1/1/2010: NO less than sixty (60) calendar days prior to the first scheduled sale date, a SUPPLEMENTAL MAILING LIST containing the names and addresses of the persons listed in C.R.S. 38-38-103(1)(a)(II) MUST be filed with the Public Trustee's office; if not timely filed, the foreclosure action must be withdrawn.
For foreclosures started or restarted after 1/1/2010: The holder of the evidence of debt (or its attorney) shall deliver an AMENDED MAILING LIST pursuant to 38-38-100.3(1.5) as needed. If an Amended Mailing List is received after the mailing has been sent pursuant to 38-38-103(1)(b), the sale shall be continued to not less than 65 calendar days after receipt of the Amended Mailing List.
The Adams County Public Trustee's office will produce the Combined Notice(s), the mailing envelopes and postage, and the copies of the Statutes to be provided in the mailings and will charge the holder of the evidence of debt (or its attorney) for the costs of those items.