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Saturday, December 22, 2007
Colorado foreclosure laws change January 1, 2008
 Colorado foreclosure laws currently
allow homeowners to "cure" the default prior to the Public Trustee sale or to "redeem"
the property after the sale. Beginning January 1, 2008, the cure period and the previous redemption period will be combined
into one longer pre-cure period (120 days for residential and 180 days for agricultural). There will no longer be any
homeowner's redemption period after the sale. The intended goal is to lessen the opportunities for predatory activity
directed against homeowners, which primarily seemed to occur in the redemption period. It also increases the amount
of time available to negotiate with the lender or sell the property, if necessary, to avoid foreclosure.
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