Foreclosure Deferment

Posting document for Notice of Deferment Required by House Bill 09-1276.



House Bill 09-1276, passed during the 2009 legislative session and signed by the Governor, requires that the Colorado Division of Housing provide a document for the purposes of informing homeowners of the possibility of obtaining a foreclosure deferment.

The State-approved posting documents are below. In accordance with 38-38-803 and 38-38-807.5, C.R.S., representatives of foreclosing lenders or servicers must use the posting documents below.

The template posting notice below has been written to fulfill the requirements of the legislation. Please note that the legislation requires that the posting include the following:
 

• Description of foreclosure deferment opportunity and procedures an eligible borrower may follow to seek a foreclosure deferment
• Phone number of Colorado Foreclosure Hotline and HUD website address identifying approved housing counselor agencies in Colorado
• Date notice was posted and the DEADLINE BY WHICH ELIGIBLE BORROWER NEEDS TO CONTACT FORECLOSURE COUNSELOR
• Notice shall be in both English and Spanish on a single piece of paper, in at least 14-point bold-faced type - form is designed with English on one side and Spanish on the other side - contains pertinent information such as property address and the name of the borrower(s).

Click to view HB 1276
Click to view HB 1240

UPDATE: The foreclosure deferment program was modified by House Bill 1240, passed during the 2010 legislative session. Updated posting documents are below.
Click to download posting document in PDF (Updated June 2010)
Click to download posting document in Word (Updated June 2010)

UPDATE 7/26/10: In accordance with section 24-32-704 of Colorado Revised Statutes, The Division of Housing has adopted the following eight resolutions clarifying and providing uniform standards for the Foreclosure Deferment Program:

Resolution 1
Resolution 2
Resolution 3
Resolution 4
Resolution 5
Resolution 6
Resolution 7
Resolution 8

For more information on HB 1276 and how the foreclosure deferment program works,
please click here.


Lenders and mortgage companies that have additional questions about the posting document may contact: ryan.mcmaken@state.co.us