PLEASE NOTE: The foreclosure laws have CHANGED several times over the past few years. Please see Title 38, Article 38 of the Colorado Revised Statutes for current laws relating to foreclosures.
See our "Forms & Policies" page for our policy regarding filing of a Notice of Intent to Redeem.
For cases processed under the laws in effect as of 1/1/08 and thereafter, the property owner/borrower NO LONGER HAS A REDEMPTION PERIOD after the date of the foreclosure sale. However, the owner/borrower has a longer period of time PRIOR to the foreclosure sale date within which to "cure" the default on the loan.
A Certificate of Redemption is issued to the party redeeming the property from the foreclosure. For cases processed under the laws in effect as of 1/1/08 and thereafter, ONLY junior lienors as defined in the law, and not owners/borrowers, have a right of redemption. A complete Notice of Intent to Redeem must be timely filed with the Treasurer and Public Trustee's office and funds to effect the redemption must be timely paid to the Treasurer and Public Trustee's office by the junior lienor. Once the Treasurer and Public Trustee has been assured that it has sufficient, collectible funds for the redemption amount, a Certificate of Redemption will be issued. See also, the laws regarding "consensual liens" because those provisions may affect rights of redemption and you should seek legal counsel in that regard.
This information is provided only as a courtesy and is NOT intended to be legal advice. If you believe you have any redemption rights in a foreclosure, you should seek legal counsel.