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<br>What is a Foreclosure?<br>
<br>Foreclosure occurs when a property owner is no longer able to make mortgage payments as needed. This permits the lending institution to seize the residential or commercial property, removing the homeowner and selling the home, as specified in the mortgage agreement.<br>
<br>When a foreclosure takes location, the following steps take place:<br>
<br>1. Notice of Election and Demand is taped within 10 company days of getting a packet from the lender's lawyer.
<br>2. Sale date is set between 110 through 125 calendar days after the NED was tape-recorded (non-ag).
<br>3. [Combined Notice](https://rsaproperty.co.za) is sent by mail within 20 calendar days after the NED was tape-recorded.
<br>4. Second Combined Notice is mailed with 45-60 calendar days prior to initially scheduled sale date.
<br>5. Combined Notice published in local paper 45-60 calendar days prior to the very first scheduled sale date.
<br>6. Notice of Intent to Cure should be received at least 15 calendar days prior to the very first scheduled sale date. A treatment, in the form of a cashier's check, should be paid by noon the day before the sale.
<br>7. The court order authorizing the sale and the signed and itemized quote must be received by midday two (2) service days prior to sale day.
<br>8. The Pre-sale List is made available by 2:00 p.m. on Tuesday before Thursday's sale.
<br>9. The sale is conducted at the Clear Creek County Courthouse, Office of the Treasurer & [Public Trustee](https://blue-shark.ae) at 11:00 a.m. on Thursdays
<br>10. The Certificate of [Purchase](https://bombayurbans.com) is taped within five (5) company days.
<br>11. A Notification of Intent to Redeem should be filed by a junior lienholder within 8 (8) service days after the sale. Foreclosures began in 2008 and more recent do not allow for owner redemptions.
<br>
How to Start a Foreclosure in Clear Creek County:<br>
<br>Pursuant to laws effective 1/1/2010,<br>
<br>In order to start the foreclosure process, the following is submitted to the Public Trustee's office together with a referral of the case and a Certificate of the Current Owner of the debt:<br>
<br>1. Original or licensed copy of the tape-recorded deed of trust.
2. Original promissory note or bond if original note has been lost. Some qualified foreclosing loan providers might send certain paperwork in lieu of the note if they fall under the standards of C.R.S. 38-38-100.3( 20) or if Qualified Holder: Copy of initial promissory note and Certification of Qualified Holder, signed by lawyers representing holder.
3. Notice of Election and Demand for Foreclosure.
4. Mailing List, that includes names and addresses of parties to receive Combined Notice of the sale, rights to treat and rights to redeem.
5. Additional documents needed under foreclosure statutes.
6. Payment of required fees.<br>
<br>The above files are submitted to the Public Trustee by a Colorado-licensed lawyer representing the lending institution of the loan in default. The Public Trustee tapes the Notice of Election and Demand (NED) and begins the foreclosure proceedings. This must be done within ten organization days after getting the documents from the lender's lawyer.
A Combined Notice of Sale, Rights to Cure and Redeem is sent out to celebrations noted on the mailing list or modified subscriber list. The newsletter or lists should consist of all parties whose interests appear in an instrument tape-recorded subsequent to the foreclosed deed of trust and prior to the recording of the NED. The notifications are sent to the addresses shown on the recorded instrument. If there is no address, then by statute it is not needed to send the notification in care of the county seat. The Public Trustee sets the sale date to be not less than 110 calendar days nor more than 125 calendar days from the date of recording of the NED for non-agricultural residential or commercial properties or not less than 215 calendar days nor more than 230 calendar days from the date of [recording](https://woynirealtor.com) of the NED for agricultural residential or [commercial](https://khresearchandanalytics.com) properties.
Clear Creek County needs a preliminary deposit of $650 for all foreclosures<br>
<br>How to Determine Agricultural Status C.R.S. 38-38-108( 2( a)( I)<br>
<br>1. If needed the Clear Creek County Public Trustee shall make a decision instantly upon the opening of the [foreclosure](https://monnara.co).
2. This office will accept as evidence:<br>
<br>a. Certified copy of recorded neighborhood plat
b. Written declaration from city or [town clerk](https://lason.au)
c. Written statement from county assessor
d. Statements should be dated no more than 6 months before the NED was submitted<br>
<br>3. Our decision is binding
4. Statements utilized in determining agricultural status no longer require to be
5. Cost for determining status may be included as a portion of the costs and costs charged by the lawyer
Please do not include copies of statutes for mailing. This is covered in the expense of postage and copies.<br>
<br>How to Cure a Foreclosure:<br>
<br>A cure quantity is the amount needed to bring a foreclosed loan current. The Public Trustee's foreclosure files just include [treatment figures](https://www.prophecyhousing.com) when an Intent to Cure has actually been filed and the figures have actually been received from the foreclosing lawyer.<br>
<br>The only celebrations legally permitted to submit an Intent to Cure include, but are not restricted to: residential or commercial property owners, individuals liable, grantor of evidence of financial obligation and junior lien holders pursuant to C.R.S. 38-38-104( 1 ). An Intent to Cure need to be submitted a minimum of fifteen days prior to the date of the set up Public Trustee sale.<br>
<br>The Intent to Cure Form (PDF) may be submitted by e-mail, fax, mail or personally at the Office of the Clear Creek County Public Trustee (please call or e-mail to confirm that we received the file). There is no charge to submit and does not obligate the filer. Cure funds should be received in the general public Trustees workplace by midday on the day before the sale, and must remain in the form of cash or verifiable bank cashier's check.<br>
<br>Please do not anticipate to get information of the amount due instantly after filing the type. The general public Trustee's Office should request that info from the lender or lender's attorney. Upon invoice of the figures from the lending institution or loan provider's lawyer, the remedy amount will be provided to you as requested. The figures may be excellent for only a limited time so if you do not treat by the legitimate figure deadline stated in the statement, you will need to request an updated treatment statement through the general public Trustee's Office.<br>
<br>To [discover](https://froghousing.com) more about your foreclosure choices, please call the Colorado Foreclosure Hotline at (877) 601-4673.<br>
<br>The above info is provided just as an informational tool and is not meant to act as legal advice.<br>
<br>How to Bid at a Foreclosure Sale:<br>
<br>Preparing ahead of time:<br>
<br>It is your obligation to do research before concerning the sale to bid on a residential or commercial property. The general public Trustee can not and does not guaranty that the deed of trust being foreclosed is a first lien - it could be a second or 3rd lien. The General Public Trustee does not understand the condition of the residential or commercial property, or if the residential or commercial property taxes or evaluations have actually been paid or if there are any other liens against the residential or commercial property. If you do not know how to check the "condition of title" or the "chain of title" to the residential or commercial property, you might wish to work with somebody to do the research for you.<br>
<br>You can get the foreclosure case number for the residential or commercial property by looking it up at our website, Foreclosure Search.<br>
<br>On Tuesday, 2 days before sale, we will have published in our office by around 2:00 p.m. listing of residential or commercial properties arranged to go to sale that week (Thursday). The lender's written bid is required to be offered, in writing, to the general public Trustee prior to the publishing of the Pre-Sale Continuance List (foreclosure search, foreclosure reports). The bids are public details and you might search our foreclosure search, sale info, quote, to see the opening quote quantity. Bids received from the lending institutions might be amended at the time of sale so long as the lending institution's agent is personally present at sale and re-executes the changed written quote.<br>
<br>Be recommended: The lender or its lawyer, or the Public Trustee, might pull or continue a residential or commercial property from the sale list at any time up until the sale begins Thursday morning.<br>
<br>Check in on sale day:<br>
<br>The Clear Creek County Public Trustee holds foreclosure sales on Thursday's quickly at 11:00 a.m. - Sales are held at the Clear Creek County Treasurer & [Public Trustee's](https://www.itmventures.co.uk) Office, in the Clear Creek County Courthouse, 405 Argentine Street, Georgetown, Colorado. See Map (PDF)<br>
<br>If you intend to bid on a residential or commercial property, you should get here at the workplace about 15 to 20 minutes early to complete a Bidder Registration Form (PDF) with your name, address, and so on. This info will be used for the Certificate of Purchase, please be sure it is precise and legible.<br>
<br>Those interested in bidding must personally attend the sale. We do not take over-bids by phone, fax or email. If you are appearing at the sale to bid on behalf of somebody other than yourself or another entity that you do not own or control, you require to have actually composed authorization, a letter of firm notarized pursuant to CRS 15-14-607, and verbally state that your bid is being entered upon behalf of that other person or entity at the time the quote is made.<br>
<br>Bidding at the sale proceeds in increments of $5.00 - if the lender has actually sent a quote for $150,000.00, for example, you must bid at least $150,005.00 in order to be the effective bidder.<br>
<br>You will also be required to have enough funds with you to bid on the residential or commercial property. Payment of effective quote amounts need to be made in the kind of a proven bank cashier's check. Checks should be payable only to the "Clear Creek County Public Trustee". We can decline 3rd celebration checks. The Public Trustee will strike and offer the residential or commercial property to the effective bidder after bidding has stopped and funds have actually been provided. <br>
<br>Pursuant to laws in impact on January 1, 2008 for cases began after that date, the effective bidder will not get an initial Certificate of Purchase at the time of sale. Successful bidders will be provided with a Receipt from the Public Trustee after the sale is completed. A Certificate of Purchase will be issued in the name and address of the successful bidder as shown on your Bidder Information Form and recorded (within 5 service days) by the Public Trustee's office and maintained in our workplace records.<br>
<br>As the grantee called in the Certificate of Purchase, you do not have instant right of access to the residential or commercial property. A Certificate of Purchase does not move title to you, it merely proofs your financial investment made at the time of sale.<br>
<br>The Redemption Process:<br>
<br>A junior lien holder has 8 [service](https://arcviewproperties.com) days after the sale to submit an intent to redeem. The most senior lien may redeem 15 to 19 service days after the sale, but no later on than midday the last day. If several lien holders submit an intent to redeem, each extra lien holder will receive a five day redemption duration.<br>
<br>If you are called for redemption figures, interest is computed at the rate specified on the note and extra expenses are limited to those enabled by statute. Please be prepared to supply invoices for expenditures sustained. Redemption figures should be received within 13 organization days after the sale. The statement needs to specify all sums needed to redeem including the amount of daily interest and the rate of interest. The declaration might be amended up till 2 service days before the start of the next applicable redemption period. Your [statement](https://buyersbrokerscompensation.com) of redemption must abide by 38-38-302 C.R.S.<br>
<br>. If redemption takes place, the Certificate of Purchase holder is paid the bid amount, interest at the rate defined in the Deed of Trust and Note being foreclosed, and any other allowed costs as specified by Colorado Revised Statutes (invoices should be provided) as provided in C.R.S. 38-38-107 and as consisted of in your redemption statement. Thereafter, upon composed request and payment of the [required](https://www.goldengateapartment.com) costs, the general public Trustee's office will release a Confirmation Deed to communicate title to the last redeeming celebration.<br>
<br>If no Notice of Intent to Redeem is filed and no redemption is made by anybody, you must ask for, in writing, that our workplace problem your Confirmation Deed, no quicker than 15 company days after the sale. You must pay a $30.00 fee, plus recording expenses, for issuance of the recorded Deed. The Confirmation Deed will be provided by the Public Trustee and tape-recorded with the Clerk & Recorder's office. If you are the beneficiary of that Deed, you will then have ownership of the residential or commercial property.<br>
<br>Notice to an owner in foreclosure:<br>
<br>If your residential or commercial property goes to foreclosure auction sale and is purchased for more than the total owed to the lender and to all other lien holders, please contact the Public Trustee's office after the sale due to the fact that you may have funds due to you.<br>[youtube.com](https://www.youtube.com/watch?v=DP_ujw6kAfs)
<br>The general public Trustee's office does not supply legal suggestions and we do refrain from doing any eviction procedures. Once the Confirmation Deed is issued by this office and recorded, the Public Trustee's file is closed.<br>
<br>IF THE BORROWER BELIEVES THAT A LOAN PROVIDER OR SERVICER HAS VIOLATED THE REQUIREMENTS FOR A SINGLE POINT OF CONTACT IN SECTION 38-38-103.1 OR THE PROHIBITION ON DUAL TRACKING IN SECTION 38-38-103.2, THE BORTROWER MAY FILE A GRIEVANCE WITH THE COLORADO CHIEF LAW OFFICER, THE FEDERAL CONSUMER FINANCIAL PROTECTION BUREAU (CFPB), OR BOTH. THE FILING OF A PROBLEM WILL NOT STOP THE [FORECLOSURE PROCESS](https://sananrealhomes.com).<br>[youtube.com](https://www.youtube.com/watch?v=A_CX5ALVu70)