Why Sign Up/ Log In? Why Sign Up/ Visit? Register/ Visit Sign Up/ Visit Help Irene Josey Treasurer and Public Trustee 1. Home 2. Treasurer & Public Trustee 3. Public Trustee 4. Foreclosure Information Foreclosure Information Foreclosure Definitions and Process The foreclosure process is stated in Title 38, Article 38 of the Colorado Revised Statutes. Those statutes are available in most public libraries as well as online at https://leg.colorado.gov/agencies/office-legislative-legal-services/colorado-revised-statutes. Below you will discover some meanings of foreclosure terms you might see while utilizing our Foreclosure Search or on other materials related to the foreclosure procedure. Our office does not provide legal suggestions. DEED OF TRUST - In Colorado, a mortgage is usually called a Deed of Trust and that document is signed and tape-recorded at the time the residential or commercial property is purchased and financed. The Deed of Trust gives the Public Trustee the right to sell the residential or commercial property through foreclosure procedures if the customer defaults on the terms of the Deed of Trust or Promissory Note (non-payment or other default). LOAN TYPE - Some various kinds of loans are: Conventional, VA, FHA, and Unknown. RATES OF INTEREST - The percentage rate revealed may be the original rate of interest on the loan and might not reflect the default interest rate. Default rate of interest usually go into result when payments on the loan are in arrears or past due. CURRENT BENEFICIARY - It is a common practice for mortgage companies to "sell" loans to other lending institutions or pools of loan providers. The present loan provider (or beneficiary) of a loan will frequently not be the mortgage business that made the loan when the residential or commercial property was initially purchased.