Foreclosure on Deed of Trust

When the agreement is in default, the Beneficiary may submit a Notice of Election and Demand (NED) along with supporting documents required by law to the Public Trustee to start the foreclosure process. It is important to note that the Public Trustee only administers the process according to the Colorado Revised Statutes. Only the court has the authority to prevent, authorize or set aside a sale. The Public Trustee is not privy to or responsible for any part of the process that is not conducted by the Public Trustee.

A Judicial Foreclosure is conducted through the court system on a Mortgage, Deed of Trust or a Judgment. For more information regarding these foreclosures, contact the Archuleta County Clerk of the Court at 970-264-8160.

An overview of the foreclosure process is:

  • The foreclosure file is submitted to the Public Trustee.
  • The Public Trustee records the opening of the file with the Clerk and Recorder.
  • Mailings are sent to the names and addresses submitted with the file.
  • Documents are sent to the newspaper for publication.
  • The property is set for sale upon receipt of an opening bid from the lender.
  • After the sale of the property by the Public Trustee, a Certificate of Purchase is recorded.
  • Upon expiration of all junior lienor redemption periods, a Confirmation Deed may be recorded.
This timeliness may be altered by an amended mailing list, cure money received, bankruptcy, deferment eligibility, qualification for an expedited foreclosure, loan modifications, etc.

NOTICE TO AN OWNER IN FORECLOSURE: If your property goes to foreclosure auction sale and is purchased for more than the total owed to the lender and to all other lien holders, please contact the public trustee's office after the sale because you may have funds due to you.

Foreclosure laws may change because of legislation adopted each year by the Colorado Legislature.

The information here is intended as a tool. It is not intended to serve as legal advice. To learn more about the laws regarding the foreclosure process, refer to Title 38 of the Colorado Revised Statutes or consult with your own legal counsel.

If the borrower believes that a lender or servicer has violated the requirements for a single point of contact in section 38-38-103.1 or the prohibition on dual tracking in section 38-38-103.2, the borrower may file a complaint with the Colorado Attorney General, the Federal Consumer Financial Protection Bureau (CFPB), or both. The filing of a complaint will not stop the foreclosure process.

Colorado Attorney General Federal Consumer Financial Protection Bureau
1300 Broadway, 10th Floor P.O. Box 4503
Denver, Colorado 80203 Iowa City, Iowa 52244

(800) 222-4444 (855) 411-2372