If you’re a homeowner in Colorado and you’re facing the prospect of foreclosure, it’s possible you’re feeling hopeless about your situation. You may feel like your back is against the wall and that you don’t have any options available to you. 

The reality is that there are some things you can do that can either extend the foreclosure process (giving you time to get back on your feet, financially), or stop it altogether. 

At the Law Office of Matthew R. Osborne, PC, we are dedicated to empowering consumers with the knowledge they need to uphold their rights in foreclosure situations. It’s important to remember that, no matter how serious your situation is, you have rights as a consumer. Never forget that!

One of these rights is to do everything you can to protect your home from undue or premature foreclosure actions that might be taken by your lender or a public trustee. 

Here are some important considerations to keep in mind as you do what you can do to avoid foreclosure in Colorado. 

Colorado-Specific Foreclosure Protections

Along with Minnesota and Nevada, the State of Colorado has two foreclosure prevention laws that can work in your favor. They are Dual Tracking Prohibition (Colorado Revised Statute § 38-38-103.2) and Single Point of Contact Appointment (Colorado Revised Statute § 38-38-103.1).

Let’s explore each of these in more detail. 

Dual Tracking Prohibition

foreclosures in coloradoWhen a loan servicer proceeds with a foreclosure action when the borrower is still working through Loss Mitigation, this is known as Dual Tracking, and it is against Colorado law. 

(Loss Mitigation is simply the term used to describe the negotiation process that a lender and a borrower engage in for the purpose of avoiding a foreclosure.) 

Typically, when a home moves into foreclosure, the sale of the property is administered by a party known as a Public Trustee. You can think of public trustees as a kind of impartial escrow agent that simply oversees the sale of the property and directs the proceeds to the lender. 

The way this law can work to your advantage is if you complete a Loss Mitigation application and submit it to your lender, and you submit a request in writing to the public trustee to stop the sale of your home. As long as you are in the loss mitigation process and can prove your involvement with the lender, the foreclosure sale cannot be forced. 

If you are able to reach an understanding with your lender pursuant to the terms of the loss mitigation agreement, and if you remain compliant with those terms, the foreclosure will be stopped altogether. 

Single Point of Contact Appointment

Colorado law serves the mortgage consumer in another unique way. As of the 45th day of delinquency with your mortgage, your lender is legally required to appoint you with a single point of contact to work with you in order to resolve your situation. 

This measure was put into place to eliminate confusion and bureaucracy, as mortgage companies would often have three, four, or even more people communicating with the borrower. This created a situation that put the consumer in a disadvantaged position. 

Now, a borrower must delegate a single person as your direct line of communication with them. Failure to do so is in violation of Federal Mortgage Servicing Laws, and you could be able to stall your foreclosure if this requirement is not met. 

Resources for Homeowners Facing Foreclosure

As we mentioned above, you are not without recourse if you’re facing foreclosure in Colorado. 

Here are a few important resources available to you: 


  • The Colorado Foreclosure Hotline – (877) 601-HOPE or (877) 601-4673. 
  • Legal Assistance from Matthew R. Osborne


No matter what stage of foreclosure you are in, and no matter how past due you are on your mortgage payments, you still have rights as a consumer. 

We know how frustrating and defeating it can feel to be caught up in the foreclosure process here in Colorado. As foreclosure lawyers, we have worked with consumers just like you to remedy their situation, avoid foreclosure, and get back on the road to financial stability. 

Sometimes, all it takes is a clear understanding of what the law will allow you to do and under what conditions. We can help you gain this understanding and advise you on your best course of action moving forward. 

To schedule a consultation with our team, contact our offices today. We’ll do everything we can to help you keep your home.