Foreclosure Timeline

The timelines used in Colorado change dramatically on January 1, 2008. For foreclosures that were initiated prior to January 1, 2008, the timeline runs as follows: Approximately 3 months after the home owner made their last payments, lenders would file in County Court to foreclose on their property. That hearing takes approximately 30 days from the time of service to when it is held. At the foreclosure hearing, the home owner will be given a sale date.

The sale date will take place approximately 45 days after the hearing. Following the sale date there is a period called the period of redemption. Between your foreclosure hearing date and sale date, properties can be saved by paying the arrears, the amount of payments missed up until the time of the sale date. After the sale date, the full loan plus the amount of arrears must be paid in order to save your property. The period of redemption lasts approximately 45 days. At the end of the period of redemption, the homeowner has to quit the property. In other words, the homeowner has to leave the premises at the end of the period of redemption.

On January 1, 2008, new laws went into effect in Colorado essentially extending the time before sale and eliminating the redemption period after sale. Today, after approximately 3 missed payments, lenders file foreclosure papers with County Court. Those papers are then served upon the debtor. Approximately 30 days after service, the homeowner will attend their foreclosure hearing. At the foreclosure hearing, a sale date will be issued. That sale date will take place approximately 110 to 120 days after the hearing.

The sale date under the new law is more critical than ever. That date is not only the sale date but also the last day that a debtor has in their property. Filing a bankruptcy will always buy you an additional 60 days in your home. In some instances, these 2 months can be critical and can be the time that a debtor uses to save money for their new apartment or home. It can also be the time it takes for the debtor to secure or locate their new property or home. If you think that you may need 2 more months or more in your current residence, I encourage you to contact our office at (303) 300-6684.

If you simply have concerns regarding foreclosure or you wish to keep your property you might be able to do this through a Chapter 13 filing. In this case, you should also call our office at (303) 300-6684.


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Contact Information

Denver Office:
Morse Law, LLC

  • 910 16th Street Mall Ste 1100
    Denver, CO 80202
  • 303-300-6684
  • 720-941-2755

Colorado Springs Office:
Morse Law, LLC

  • 121 S Tejon St Ste 1107
    Colorado Springs, CO 80903
  • 719-302-3655
  • 720-941-2755

Ft. Collins (Area) Office:
Morse Law, LLC

  • 1635 Foxtrail Dr
    Loveland, CO 80538
  • 970-672-1263
  • 720-941-2755