Cut-off Dates Set for Processing Public Trustee Foreclosures Under Current Law
As you know, Colorado's new foreclosure law becomes fully effective as of January 1, 2008. However, in anticipation of the effective date, each of Colorado's public trustees has set a cut-off date in December by which any new foreclosure must be filed in order to be processed under current law. The cut-off dates range from December 13 to December 31. Any new foreclosure filed after a public trustee's cut-off date must be filed using new forms and will be processed under the new law. Associations will want to review notices of foreclosure received between now and the end of the year VERY carefully to make sure what law is being applied. For more information on the new law click here.
I was told by "someone" that we had to record a "Notice of Address" with the county clerk & recorder for all of our Associations before Jan 1st to provide notice of the address of the associations tying it into the Declarations and that this would put foreclosing lenders on notice. Is there such a form & do we need to do this in addition to the registering with the Secretary of State and what happens to current foreclosures if these don't get recorded prior to Jan 1st? Help!