Get NEED HELP RESOLVING YOUR MORTGAGE ISSUES - Co Larimer Co

There are really only two ways to stop a foreclosure: make a big enough payment to bring the loan current or file bankruptcy. If you can get the cash together to make up for back payments, interest, and other expenses and fees, you can pull your home out of the foreclosure process.

The creditor may obtain payment of the debt through execution on the judgment lien by an action commenced within six years of the entry of the judgment; and/or the creditor may commence an action to foreclose on the deed of trust within the applicable fifteen-year statute of limitations provision.

Under Colorado law, the borrower may prevent a nonjudicial foreclosure sale by "curing" the default, which means bringing the account up to date by paying all missed payments plus fees and costs. This procedure is called "reinstating" the loan.

Typically, it takes about 110 -125 days from the date that a notice of election and demand is filed with the county until the foreclosure sale takes place on a Colorado property.

If you have a complaint, please email covidconcerns@larimer.org. If you have any questions, please visit our COVID-19 web page for more information.

Typically, homeowners have two options for stopping a foreclosure with bankruptcy. The first is Chapter 7 bankruptcy. The second is Chapter 13 bankruptcy. Whichever you choose, it's crucial to remember that the bankruptcy petition must be filed before the foreclosure sale happens.