Colorado law allows for both judicial and non judicial foreclosures.
However, as in many states that permit both types of foreclosures, most of the foreclosures that take place are non judicial. That means that the lender has the power to sell the property in a foreclosure sale without suing the borrower in court. That power is created in the loan documents. In Colorado, there is a public trustee appointed for each county who is responsible for carrying out all aspects of the foreclosure process including providing public notice and conducting the actual sale.
Some loan documents in Colorado do not contain a power of sale clause and if a lender wants to foreclose on a property that does not have a power of sale clause then the lender must sue the borrower in state court in a judicial foreclosure proceeding.
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This article is intended to be helpful and informative. But even common legal matters can become complex and stressful. A qualified foreclosure and alternatives lawyer can address your particular legal needs, explain the law, and represent you in court. Take the first step now and contact a local foreclosure and alternatives attorney to discuss your specific legal situation.