Foreclosure Requirements

Foreclosure Requirements

When a lender decides to proceed with filing a foreclosure action, the following documents are required under Colorado Statute:

  1. Colorado Revised Statute § 38-38-102 Requires that the Notice of Election and Demand ("NED") contain the following information:
    • The names of the Original Borrower (Grantee) and Lender (Grantor)
    • The name of the Current Holder of the Evidence of Debt (Note & Deed of Trust)
    • Date and recording information of the Deed of Trust
    • The Original loan amount and the current outstanding principle balance due
    • Legal description exactly as it appears on the Recorded Deed of Trust 
    • A statement as to whether the foreclosure is for all or a portion of the property
    • A statement of what the covenant violation is (example: Failure to make monthly payments, Failure to make tax and insurance payments, Failure to reside in the home, Death of borrower, etc.)
    • Attorney name, Colorado Bar Registration Number, address and phone number
  2. The Original Deed of Trust; a certified copy of the recorded Deed of Trust; or a copy of the recorded Deed of Trust accompanied by a Statement of Qualified Holder as defined in C.R.S. § 38-38-100.3(20) and C.R.S. § 38-38-101(2).

  3. The Original Evidence of Debt (commonly called a "Note") secured by the Deed of Trust or a copy of the Original Evidence of Debt accompanied by a Statement of Qualified Holder as defined in C.R.S. § 38-38-100.3(20) and C.R.S. § 38-38-101(2). 

    • If the Evidence of Debt has been lost, the holder must purchase a corporate surety bond equal to 1.5 times the face amount of the loan.

  4. A mailing list pursuant to C.R.S. § 38-38-100.3(14) containing the names of the original Borrower (Grantor), Current property owner, any Lien holders of record in the county indexing records, and notice to the "Occupant" and "Lessee" - this can be a combined as "Occupant/Lessee."

  5. A statement of Current Ownership ("ACO") pursuant to C.R.S. § 38-38-101(1)(g).

  6. A statement of the Current Loan Servicer ("SLS") pursuant to C.R.S. § 38-38-101(1)(f.5), if applicable. This document is optional under the statute.

  7. A deposit check in the amount of $650.00, made payable to the Jefferson County Public Trustee. Our office also processes ACH withdrawals from a financial account of your choosing. Please contact our office to set up ACH withdrawals.

Public Trustee fees must be paid at the time the foreclosure is filed, and any unpaid balances must be paid prior to the foreclosure auction.