How the Foreclosure Process Starts: Notice of Election and Demand

In Colorado, the foreclosure process begins after the public trustee receives a “notice of election and demand” from the foreclosing party. The public trustee must file the notice with the clerk and recorder’s office within 10 days, where it will be recorded.

After the notice of election and demand is recorded, the public trustee will set a date when your home will be sold. Between the recording of the notice of election and demand and the sale date, you have various rights—but you must assert those rights or they will be lost. The process moves very quickly; once your property is sold, it is nearly impossible to get your home back.

It is imperative, therefore, that you speak with your attorney when you receive notice that your home is being foreclosed upon. An attorney that understands the foreclosure process can help you determine the best course of action for your particular situation and defend you. Bill Henry