Foreclosure in Colorado: your timeline, rights, and how to stop it
Colorado uses a non-judicial foreclosure process. Below is the typical timeline, the notices you should get, your cure and reinstatement options, and whether a lender can come after you for a shortfall — with every figure tied to a source. None of this is legal advice; confirm your own case with a HUD-approved counselor or a Colorado attorney.
How fast foreclosure moves in Colorado
Method: Non-judicial. Colorado is primarily a non-judicial foreclosure state administered by county public trustees under CRS § 38-38-101 et seq. However, the process requires court authorization under Colorado Rule 120, which mandates that the foreclosing lender file a motion with the District Court requesting an order authorizing the sale. The Rule 120 hearing is a gate-keeping procedure but does not constitute a full judicial foreclosure. Judicial foreclosure is available but rarely used for residential mortgages as the public trustee process is faster and less expensive for lenders.
Typical state-process time to sale: roughly 230–145 days once foreclosure starts. Minimum timeline: 120 days delinquency (federal requirement) + minimum 110 days from Notice of Election and Demand (NED) recording = 230 days minimum. Typical timeline: approximately 145 days after NED filing. Process steps: (1) Default for 120+ days; (2) Notice of Default within 30 days of default; (3) NED filed at least 120 days after default and 30 days after Notice of Default; (4) Public trustee records NED within 10 business days; (5) Sale scheduled 110-125 days from NED recording; (6) Rule 120 hearing with 21-35 day response window; (7) Final sale 16+ days after Rule 120 hearing.
Before any of this: Under Reg X (12 CFR 1024.41(f)), a servicer generally cannot make the first foreclosure filing until the borrower is more than 120 days delinquent. This applies in every state, on top of the state process below.
Cure, reinstate, redeem
Right to cure: Yes (15 days). Under CRS § 38-38-104, borrowers have a one-time right to cure the default by filing a notice of intent to cure with the public trustee no later than 15 calendar days before the scheduled sale date. The borrower must then pay the full cure amount (all missed payments, fees, and costs) to the public trustee by noon on the day before the foreclosure sale. Once a notice of intent to cure is received, the servicer must provide a detailed cure statement within a reasonable time.
Reinstatement: Yes (15 days). Reinstatement (curing the default) is available under CRS § 38-38-104. The borrower must file notice of intent to cure no later than 15 calendar days before the sale and pay all arrears, fees, and costs by noon the day before the scheduled sale to reinstate the loan and stop the foreclosure.
Post-sale redemption: No. Colorado eliminated the statutory right of redemption for homeowners in 2008. After a non-judicial foreclosure sale, homeowners cannot redeem the property. Only junior lienholders (second mortgages, judgment creditors) have limited redemption rights of 8-19 days. Exception: HOA foreclosures allow a 180-day redemption period for homeowners.
Can a lender still come after you? (deficiency)
Deficiency judgment: Allowed, but limited in Colorado. Under CRS § 38-38-106, deficiency judgments are allowed after non-judicial foreclosure, but are subject to a fair-value limitation. The lender must bid at least its good faith estimate of the property's fair market value (less senior liens, unpaid taxes, and reasonable selling costs). If the lender fails to bid fair market value at the sale, the borrower can raise this as a defense in the deficiency action, and the court may reduce the deficiency to what it would have been had the lender submitted a good faith bid.
Deadline: The lender has six years after a non-judicial foreclosure to file a separate lawsuit seeking a deficiency judgment under CRS § 38-38-106(6).
This is condition-specific (a primary residence or a purchase-money loan can change the answer). Confirm with a Colorado attorney before assuming you are or aren't on the hook.
What you should receive — and where to get help
Notices: Notice of Default: Lender must send written notice at least 30 days after default, per CRS § 38-38-102.5, including state foreclosure hotline (877-601-HOPE) and lender's loss mitigation contact. Combined Notice of Sale: Public trustee mails combined notice of sale and right to cure/redeem within 20 days of NED recording, and again 45-60 days before first scheduled sale. Publication: Combined notice must be published in a newspaper of general circulation once weekly for 5 consecutive weeks, beginning 45-60 days before the first scheduled sale date, per CRS § 38-38-103. Rule 120 Notice: Lender must serve notice at least 14 days before the response deadline (7 days before hearing).
Mediation: Available. Colorado's House Bill 24-1337 requires HOA foreclosures to offer mediation before proceeding with a foreclosure lawsuit (mandatory 30-day notice). For traditional residential mortgage foreclosures, there is no mandatory mediation requirement at the state level, though borrowers may voluntarily pursue mediation. Federal law requires servicers to provide loss mitigation options within 45 days after a missed payment. The Colorado Foreclosure Hotline (877-601-HOPE) refers borrowers to HUD-approved housing counselors and other foreclosure prevention resources.
How we verified this Colorado page
- Colorado Revised Statutes § 38-38-101 et seq. - Foreclosure Sales — source
- Colorado Judicial Branch - Residential Foreclosures Self-Help — source
- Colorado Revised Statutes § 38-38-104 - Right to Cure — source
- Colorado Revised Statutes § 38-38-106 - Bid Required and Deficiency — source
- Colorado Judicial Branch - Frequently Asked Questions about Foreclosures — source
- Nolo - Colorado Foreclosure Laws and Procedures — source
Last reviewed 2026-06-08 by Shirley Chia. Foreclosure law changes; we re-check each state on a schedule. This page is general information, not legal advice for your situation — confirm with a HUD-approved housing counselor (free) or a licensed Colorado attorney.