Colorado F/C timeline

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Posted by Bob H on November 26, 2003 at 18:55:29:

In Reply to: Re: NIGHTMARES IN COLORADO HELP PLEASE, THANKS TO ALL posted by Teresa on November 26, 2003 at 08:05:04:

1. Notice of Election and Demand (NED) is filed with the Public
Trustee. This usually occurs after you are 4- 6mos behind on
your mtg payments. You will receive notice via US mail when this
happens.
2. Once the NED is filed, the Public Trustee will schedule the
foreclosure sale. By statute, the sale must be scheduled no earlier
than 45 days from the date of the NED filing, and no later than 60
days.
3. After the foreclosure sale, you will have a 75 day owner's
redemption period.
Timing the filing of your BK (either right before the F/C sale, or
right before the end of your redemption period) will extend the
process by a minimum of 60 additional days.
Eviction, once the lender obtains title, will take an additional 30
days minimum.
During this entire time (approximately 7.5 mos. after the NED is
filed) you are entitled to remain it the property and run no risk of
being booted out by anyone.
Hope this information helps.

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