Introduction
The Public Trustee processes foreclosure actions on real estate properties having mortgages in default, provides foreclosure cure information and assistance to property owners or lien holders prior to sale by auction, conducts public auctions, and deeds unredeemed property.
Further details follow. See also the Real Estate Foreclosure Records searchable database.
Impact of Senate Bill 02-161
To cure foreclosure (bring payments current) before sale, an Intent to Cure must be filed at least 7 days in advance of the scheduled sale date. This applies to foreclosures where the Notice of Election and Demand has been recorded prior to July 1, 2002.
Effective July 1, 2002, Colorado Senate Bill 02-161 changes some of the procedures by which the Public Trustee administers Deeds of Trust, summarized by the following effects:
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Permits foreclosure in some instances without production of the original evidence of debt.
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Advances the date by which an Intent to Cure must be filed to at least 15 days prior to the Public Trustee’s sale date.
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Provides penalties for lenders who fail to provide cure figures in a timely fashion.
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Advances the date by which an owner’s Intent to Redeem must be filed to at least 15 days prior to the end of the owner’s redemption period, i.e., in writing by day 60 of the redemption period.
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Limits to three (3) the number of junior lien holder Intents to Redeem that may be filed on consensual liens recorded after the foreclosure has been started. (Consensual liens: liens to which the property owner has “consented,” such as a Deed of Trust to which the property owner “consents” by signing loan papers. Other types of consensual liens exist; consult your legal advisor for further information.)
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Clarifies the types of costs that may be added to a junior lien holder’s lien amount or that may be incurred by a holder of a Certificate of Purchase.
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Provides for the award of court costs and attorneys’ fees to any party that can prove it has been harmed by a Certificate of Purchase holder or a junior lien holder who erroneously has stated the amount owed.
Foreclosure cannot be cured beyond the stated deadline. The Cure Fee is $35.00.
Foreclosure Sales
Our office does not provide a list of Denver foreclosures in paper form. The Denver foreclosures list can be obtained online either in our office or remotely from any computer having Internet access. Please see Foreclosure Sales Bids and Foreclosures Search.
Public auctions of foreclosed properties are held in our office on Thursday at 10am, except in cases of weeks wherein bank holidays occur on Mondays. Please see Foreclosure Sales Calendar or call us at 720-865-8641 for additional schedule information. Because of limitations in personnel and resources, please understand that only limited information is available by phone.
Persons interested in bidding at a foreclosure sale (auction) (other than the foreclosing lender) must register with the Public Trustee prior to the sale. All bidders must have pre-registration forms and certified funds in our office by 9:45 the morning of the foreclosure sale. All funds must be in the form of a wire transfer or cashier’s check drawn on a Colorado bank and payable to “Denver Public Trustee.” Every bid must be in an amount at least $1.00 greater than the foreclosing lender’s bid, a copy of which is available in our office the afternoon prior to auction. (We will make every effort to publish on this website the afternoon prior to auction a list of Sales Bids, but cannot guarantee the timeliness, accuracy, or completeness of this online publication. Please refer to documents in our office for definitive information.)
A Certificate of Purchase is issued to the successful bidder. The Certificate of Purchase is only a lien and may be exchanged for a Public Trustee’s Deed after expiration of all redemption periods. Prospective buyers are advised to check for recorded liens senior to the lien bringing the foreclosure.
The foreclosed owner yet has 75 days after the auction sale date in which to redeem the property by making full payment of lien and expenses to our office. We will provide full redemption figures to the foreclosed owner or lien holder upon request. The filing fee for a lien holder Intent to Redeem is $50.00. The fee for a Certificate of Redemption or a Public Trustee’s Deed is $30.00, plus recording fee of $5.00 per page.
Fees
Please see Fees Schedule.
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