Does Colorado allow deficiency judgments?

Does Colorado allow deficiency judgments?

Deficiency Judgments Following the Sale in Colorado In Colorado, the lender can obtain a deficiency judgment after a nonjudicial foreclosure by filing a separate lawsuit within six years. (Colo. Rev. Stat § 4-3-118).

Which is a non recourse, anti-deficiency state?

From your list, Colorado appears to be a non-recourse, anti-deficiency state.

What are the Anti-Deficiency statues for Colorado?

From your list, Colorado appears to be a non-recourse, anti-deficiency state. What are the anti-deficiency statues for From your list, Colorado appears to be a non-recourse, anti-deficiency state.

Are there any states that have non recourse laws?

Each state implements “non-recourse” or “anti-deficiency” laws differently. As of this writing, the following states have some form of non-recourse or anti-deficiency law: Alaska, Arizona, California, Connecticut, Iowa, North Carolina, North Dakota, Minnesota, Montana, Oregon, and Washington.

Can a lender get a deficiency judgment in a recourse state?

However, most recourse states have very strict rules governing the process of obtaining deficiency judgments. If a lender does not follow the rules in a recourse state, then it may not be able to obtain a deficiency judgment.

From your list, Colorado appears to be a non-recourse, anti-deficiency state.

From your list, Colorado appears to be a non-recourse, anti-deficiency state. What are the anti-deficiency statues for From your list, Colorado appears to be a non-recourse, anti-deficiency state.

What makes a state a non-recourse state?

“Recourse” states allow lenders to seek a deficiency judgment against the debtor. It is difficult to classify states as strictly recourse or non-recourse.

Are there Anti Deficiency laws in other states?

Other states, however, have anti-deficiency laws. These laws prohibit lenders from suing for deficiencies under certain circumstances, like after a nonjudicial foreclosure. Loans that fit in this category are sometimes called “nonrecourse” loans.