In a nonjudicial foreclosure, the lender follows a series of required written notices under the power of sale clause in your deed of trust, then sells the property at a public auction to the highest bidder — all without filing a lawsuit. Here is the step-by-step sequence, what you control, and where Colorado and military borrowers can get help.
Federal rules require most mortgage servicers to take specific steps before foreclosing: early contact after missed payments, a written notice describing loss mitigation options, and an assigned point of contact who can explain how to apply for help. This guide walks Colorado homeowners through each obligation and what to do if a servicer skips a step.
The 2026 mortgage waiting-period matrix by loan program — Chapter 7 and 13 bankruptcy, foreclosure, deed-in-lieu, and short sale seasoning for conventional, FHA, VA, and USDA loans, sourced from the actual guides.