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<br>What is a Foreclosure?<br>[measur.com](http://www.measur.com/)
<br>Foreclosure takes place when a homeowner is no longer able to make mortgage payments as needed. This allows the loan provider to seize the residential or commercial property, eliminating the house owner and selling the home, as stated in the mortgage agreement.<br>
<br>When a foreclosure occurs, the following steps occur:<br>
<br>1. Notice of [Election](https://starzijproperties.ng) and Demand is taped within 10 [service](https://dngeislgeijx.homes) days of receiving a packet from the lender's lawyer.
<br>2. Sale date is set between 110 through 125 calendar days after the NED was taped (non-ag).
<br>3. Combined Notice is sent by mail within 20 calendar days after the NED was recorded.
<br>4. Second Combined Notice is sent by mail with 45-60 calendar days prior to initially arranged sale date.
<br>5. Combined Notice released in regional paper 45-60 calendar days prior to the first scheduled sale date.
<br>6. Notice of Intent to Cure must be received at least 15 calendar days prior to the very first scheduled sale date. A treatment, in the type of a cashier's check, must be paid by noon the day before the sale.
<br>7. The court order licensing the sale and the signed and made a list of bid should be received by twelve noon 2 (2) company days prior to sale day.
<br>8. The Pre-sale List is provided 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 at 11:00 a.m. on Thursdays
<br>10. The Certificate of Purchase is tape-recorded within five (5) business days.
<br>11. A Notification of Intent to Redeem need to be filed by a junior lienholder within eight (8) organization days after the sale. Foreclosures began in 2008 and newer do not permit owner redemptions.
<br>
How to Start a Foreclosure in Clear Creek County:<br>
<br>[Pursuant](https://samui-island-realty.com) to laws effective 1/1/2010,<br>
<br>In order to start the foreclosure procedure, the following is sent to the Public Trustee's office along with a referral of the case and a Certificate of the Current Owner of the debt:<br>
<br>1. Original or certified copy of the taped deed of trust.
2. Original promissory note or bond if initial note has actually been lost. Some qualified foreclosing lenders might submit specific documentation in lieu of the note if they fall under the guidelines 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 attorneys representing holder.
3. Notice of Election and Demand for Foreclosure.
4. Mailing List, which consists of names and addresses of celebrations 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 charges.<br>
<br>The above documents are submitted to the general public Trustee by a Colorado-licensed attorney representing the lender of the loan in default. The general public Trustee records the Notice of Election and Demand (NED) and starts the foreclosure proceedings. This must be done within 10 organization days after receiving the files from the lender's attorney.
A Combined Notice of Sale, Rights to Cure and Redeem is sent out to parties listed on the mailing list or modified mailing list. The mailing list or lists need to consist of all celebrations whose interests appear in an instrument recorded subsequent to the foreclosed deed of trust and prior to the recording of the NED. The notifications are sent out to the addresses shown on the recorded instrument. If there is no address, then by statute it is not essential to send the notification in care of the county seat. The general 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 of the NED for farming residential or commercial properties.
Clear Creek County requires an initial 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 necessary the Clear Creek County Public Trustee will make a determination instantly upon the opening of the foreclosure.
2. This workplace shall accept as proof:<br>
<br>a. Certified copy of recorded subdivision plat
b. Written declaration from city or town clerk
c. Written statement from county assessor
d. Statements need to be dated no more than 6 months before the NED was filed<br>
<br>3. Our decision is binding
4. Statements used in identifying agricultural status no longer need to be recorded
5. Cost for figuring out status might be included as a part of the costs and costs charged by the attorney
Please do not include copies of statutes for mailing. This is covered in the cost of postage and copies.<br>
<br>How to Cure a Foreclosure:<br>
<br>A cure amount is the amount needed to bring a foreclosed loan current. The Public Trustee's foreclosure files only consist of treatment figures when an Intent to Cure has been filed and the figures have actually been received from the foreclosing lawyer.<br>
<br>The only celebrations lawfully enabled to submit an Intent to Cure consist of, but are not restricted to: residential or commercial property owners, persons accountable, grantor of proof of debt and [junior lien](https://syrianproperties.org) holders pursuant to C.R.S. 38-38-104( 1 ). An Intent to Cure need to be submitted at least fifteen days prior to the date of the scheduled Public Trustee sale.<br>
<br>The Intent to Cure Form (PDF) may be filed by email, fax, mail or face to face at the Office of the Clear Creek County Public [Trustee](https://marakicity.com) (please call or e-mail to validate that we received the file). There is no charge to submit and does not obligate the filer. Cure funds must be gotten in the Public Trustees workplace by midday on the day before the sale, and must be in the form of money or verifiable bank cashier's check.<br>
<br>Please do not expect to get info of the quantity due right away after submitting the kind. The general public Trustee's Office should request that info from the lending institution or lending institution's lawyer. Upon receipt of the figures from the lending institution or lending institution's lawyer, the remedy amount will be provided to you as asked for. The figures may be excellent for only a minimal time so if you do not cure by the legitimate figure due date set forth in the declaration, you will require to request an upgraded cure statement through the Public Trustee's Office.<br>
<br>For more information about your foreclosure options, please call the Colorado Foreclosure Hotline at (877) 601-4673.<br>
<br>The above information is provided only as an informative tool and is not meant to serve as legal recommendations.<br>
<br>How to Bid at a Foreclosure Sale:<br>
<br>Preparing beforehand:<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 very first lien - it could be a 2nd 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 assessments have actually been paid or if there are any other liens versus the residential or commercial property. If you do not understand how to inspect the "condition of title" or the "chain of title" to the residential or commercial property, you might want to work with someone to do the research for you.<br>
<br>You can obtain the foreclosure case number for the residential or commercial property by looking it up at our website, Foreclosure Search.<br>
<br>On Tuesday, two days before sale, we will have published in our office by around 2:00 p.m. listing of residential or commercial properties set up to go to sale that week (Thursday). The lender's written quote is needed to be offered, in writing, to the Public Trustee prior to the posting of the Pre-Sale Continuance List (foreclosure search, foreclosure reports). The quotes are public info and you might browse our foreclosure search, sale info, bid, to see the opening quote quantity. Bids got from the lenders may be modified at the time of sale so long as the loan provider's agent is personally present at sale and re-executes the changed written bid.<br>
<br>Be encouraged: The lender or its attorney, or the Public Trustee, may pull or continue a residential or commercial property from the sale list at any time up till the sale begins Thursday morning.<br>
<br>Check in on sale day:<br>
<br>The Clear Creek County [Public Trustee](https://propertybaajaar.com) holds foreclosure sales on Thursday's immediately at 11:00 a.m. - Sales are held at the Clear Creek County Treasurer & Public Trustee's Office, in the Clear Creek County Courthouse, 405 Argentine Street, Georgetown, Colorado. See Map (PDF)<br>
<br>If you plan to bid on a residential or commercial property, you ought to get to the workplace about 15 to 20 minutes early to finish a Bidder Registration Form (PDF) with your name, address, etc. This information will be used for the Certificate of Purchase, please make certain it is [precise](https://www.proptisgh.com) and understandable.<br>
<br>Those interested in bidding should personally go to the sale. We do not take over-bids by phone, fax or email. If you are [appearing](https://salonrenter.com) at the sale to bid on behalf of somebody besides yourself or another entity that you do not own or control, you need to have actually written permission, 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 individual or entity at the time the quote is made.<br>
<br>Bidding at the sale continues in increments of $5.00 - if the lender has actually sent a quote for $150,000.00, for example, you should bid at least $150,005.00 in order to be the successful bidder.<br>
<br>You will also be required to have sufficient funds with you to bid on the residential or commercial property. Payment of successful quote quantities need to be made in the kind of a verifiable bank cashier's check. Checks should be payable just to the "Clear Creek County Public Trustee". We can not accept 3rd celebration checks. The Public Trustee will strike and sell the residential or commercial property to the effective bidder after bidding has actually ceased and funds have actually been offered. <br>
<br>Pursuant to laws in effect on January 1, 2008 for cases started after that date, the effective bidder will not get an original Certificate of Purchase at the time of sale. Successful bidders will be provided with a Receipt from the general public Trustee after the sale is completed. A Certificate of Purchase will be issued in the name and address of the effective bidder as revealed on your Bidder Information Form and taped (within 5 service days) by the Public Trustee's workplace and retained in our workplace records.<br>
<br>As the grantee named in the Certificate of Purchase, you do not have immediate right of access to the residential or commercial property. A Certificate of Purchase does not transfer title to you, it simply evidences your financial investment made at the time of sale.<br>
<br>The Redemption Process:<br>
<br>A junior lien holder has 8 company days after the sale to file an intent to redeem. The most senior lien might redeem 15 to 19 business days after the sale, however no later than noon the last day. If multiple lien holders submit an intent to redeem, each additional lien holder will receive a 5 day redemption duration.<br>
<br>If you are called for redemption figures, interest is determined at the [rate defined](https://anyhouses.com) on the note and extra expenditures are limited to those enabled by statute. Please be prepared to offer receipts for expenditures incurred. Redemption figures should be received within 13 company days after the sale. The declaration should define all amounts required to redeem including the [quantity](https://ezestate.net) of daily interest and the rates of interest. The statement might be modified up till 2 organization days before the start of the next relevant redemption period. Your statement of redemption need to adhere to 38-38-302 C.R.S.<br>
<br>. If redemption happens, the Certificate of Purchase holder is paid the bid quantity, interest at the rate specified in the Deed of Trust and Note being foreclosed, and any other allowed costs as defined by Colorado Revised Statutes (receipts need to be provided) as in C.R.S. 38-38-107 and as consisted of in your redemption statement. Thereafter, upon written demand and payment of the needed charges, the general public Trustee's office will provide a Confirmation Deed to convey title to the last redeeming party.<br>
<br>If no Notice of Intent to Redeem is filed and no redemption is made by anybody, you should request, in writing, that our workplace problem your Confirmation Deed, no sooner than 15 service days after the sale. You need to pay a $30.00 charge, plus recording expenses, for issuance of the tape-recorded Deed. The Confirmation Deed shall be released 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 lending institution and to all other lien holders, please contact the Public Trustee's workplace after the sale due to the fact that you may have funds due to you.<br>
<br>The Public Trustee's office does not provide legal advice and we do not do any expulsion procedures. Once the Confirmation Deed is provided by this office and taped, the general public Trustee's file is closed.<br>
<br>IF THE BORROWER BELIEVES THAT A LENDER 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 PROBLEM WITH THE COLORADO ATTORNEY GENERAL, THE FEDERAL CONSUMER FINANCIAL PROTECTION BUREAU (CFPB), OR BOTH. THE FILING OF A COMPLAINT WILL NOT STOP THE FORECLOSURE PROCESS.<br>