HB 17-1199

House Bill 17-1199, which has been signed into law in Colorado, modifies the foreclosure process by excluding certain violations from public notices before a foreclosure sale. It also clarifies rules for continuing a foreclosure sale and handling situations where a sale violates bankruptcy protections or is overturned by a court order. This bill affects homeowners facing foreclosure and the entities conducting these sales. Since it has been signed, its provisions are now law and impact how foreclosures are handled in Colorado.

Official Summary

The bill excludes information relating to violations of the requirement for a single point of contact or dual tracking from the published notice that precedes a foreclosure sale. The bill also clarifies: That the deadline for a public trustee or sheriff (officer) conducting a foreclosure to continue a foreclosure sale is the scheduled date and time of the sale; and What happens if a foreclosure sale violates an automatic stay under the federal bankruptcy code, depending on whether full payment of the successful bid amount is received by the officer. The procedures that apply if a foreclosure sale is set aside by court order are established to mirror the procedures that follow a rescission of a public trustee sale. In addition, a person rescinding a foreclosure sale is no longer required to send envelopes along with their rescission paperwork. (Note: This summary applies to this bill as introduced.)

Votes