Foreclosures in Colorado have increased steadily over the last few years. If you’re a homeowner who has fallen behind on your mortgage, take a breath, you’re not the only one. Financial setbacks happen to good people every day. And falling behind does not automatically mean you’re going to lose your home.
You have options. Real options. Most homeowners in Colorado don’t realize how many paths are available to them until someone walks them through it.
Understanding the Colorado Foreclosure Timeline (So You Know Where You Stand)
Colorado’s foreclosure process moves faster than in many states. You may receive:
– Late notices
– Notice of Default
– Notice of Election and Demand (NED)
None of these mean you’re out of time, they simply show where you are in the process.
Option 1: Contact Your Lender (They Do Want to Help)
Your lender’s loss-mitigation department can help with:
– Loan modification
– Forbearance
– Repayment plans
– Partial claims (FHA loans)
Option 2: Explore Colorado Mortgage Relief & Free Housing Counseling
Get help early. We are not lawyers and getting legal help early is always a good idea. Here is a list of trusted resources to help you explore your options and guide you:
Colorado Division of Housing Foreclosures, Evictions and Legal Help
Denver Foreclosure Help Resources
City of Aurora Foreclosure Prevention Counseling
Colorado Homeownership Coalition (CHC)
Colorado Foreclosure Hotline: 1-877-601-HOPE (4673)
Colorado Housing Connects Hotline: 1‑844‑926‑6632
HUD-Approved Housing Counselors: 1‑800‑569‑4287
Option 3: Look Into Refinancing
Refinancing may allow you to wrap missed payments into a new loan, reduce monthly payments, or consolidate debts. We have some great mortgage lender relationships if you’d like a referral.
Option 4: Consider a Short Sale (If You’re Underwater)
A short sale may let you sell the home for less than the loan balance with lender approval.
Option 5: Understand Your Legal Rights in Colorado
You cannot be removed overnight. Colorado requires notices and provides opportunities to cure. Check out these FAQ’s.
Make sure you understand your rights by contacting legal help.
Option 6: Sell Your Home
Benefits of selling before foreclosure:
– Protect your credit
– Keep your equity
– Control your move-out timeline
– Reduce stress
– Avoid court involvement and long‑term credit impact
You Don’t Have to Figure This Out Alone
As a licensed real estate broker, I help homeowners understand their selling options.
We can review:
– Your equity
– Your foreclosure timeline
– Your realistic options
– Whether selling is beneficial
You’re not alone, and you have more options than you think. My contact info is below if you’d like to chat about your situation.
