Foreclosure in Denver>Question Details

Dee, Home Owner in Denver, CO

If a foreclosure was closed or withdrawn before the sales date, should I still file a intent to cure for the records.

Asked by Dee, Denver, CO Fri Apr 13, 2012

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David & Maria Landman’s answer
Intent to cure can be done up to 90 days after the lien holder file a notice of default at the public trustee's office, usually 90 days before the redemption period expires. If the Notice of default was filed, 90 days have passed, there are no more chances even if the foreclosure was withdrawn or the process was closed for any reason that you dont know.

you may need to find out what what is that the foreclosure was closed, that is not accurate. A foreclosure means that you are one day late in your payment and the process to close the account begun. The only way a foreclosure will be closed is if you pay off the whole debt, you negotiate a reinstament with the bank and the mortgage become current or you successfully closed a short sale. They can postpone the auction sale date but that will not give any advantage to the ownership of the property, just time. Intent to cure means the right of the borrower to reinstate the loan
0 votes Thank Flag Link Sun Jan 13, 2013
Hi Dee,

This may seem like a silly question but are you the owner of the home in question? If you are, I highly recommend contacting an attorney. Many of them will provide a free consultation.

Some other questions that your question brings up: Why was the foreclosure closed or withdrawn before the sales date? Typically, this only occurs if the cure is already in the works, the owner files bankruptcy, the bank has agreed to a loan modification or other terms that allow the owner to work out their payments, or put the home on the market; possibly for short sale.

I also suggest reviewing this site: http://jeffco.us/pubtrust/pubtrust_T167_R32.htm for more clarity on who can file the intent to cure and when to file it. This is for Jefferson County so you may want to check with the appropriate county.

Best wishes!

Renee Major
Home Real Estate
303-514-3896
0 votes Thank Flag Link Sat Apr 21, 2012
Hello Dee-

In order to better answer your question need following needs to be clarify

When you mentioned "closed" "withdrawn" are you referring to the Public Trustee timeline for Foreclosure procedures or are you referring to the MLS??

At the Public Trustee level:
If the property was foreclosed, whether it was a FHA and goes back to HUD or backed by FNMA or Fredie Mac, once the sale happened, you're no longer the owner.

If the property shows as withdrawn, possibly you were working on a modification, bank most likely will approve or has approved your modification request and ordered the local attorney to w/draw foreclosure procedures.

An intent to cure form is intended to allow borrowers to ask for final cure figures, it must be done 2 weeks prior to sale date, and you must bring certify funds to the Public Trustee 1 business day before the sale date.

I hope it addresses your question.

Respectfully,

Angelica Molina
Realtor, CDPE
Keller Williams Preferred Realty
0 votes Thank Flag Link Thu Apr 19, 2012
Hmmmm. A lot of times it's hard to answer without the right information.

1) Robert had great advice - talk to the foreclosure hotline. That will help.
2) Call an attorney - can be pricey, but ...

I subscribe to a service called ReNav. It get semi-pricey if you have all the counties like I do, but it's worth it for my clients. If you give me your address I can track it down to let you know the exact status. What is nice is that you will know if/when the bank changes the sales date, whether they withdraw the bid, when they start it back up again etc. If you send me an email with the address I'll look it up and have it email you any changes.

Best of luck.

Mike Henderson
0 votes Thank Flag Link Sun Apr 15, 2012
Dee,

I hope I answered the question you were asking. The other thing you need to do is confer with a real estate attorney to review your wown particular situation. Also I always suggest that anyone in or approaching foreclosure in Denver call the free 'foreclosure hotline' -

http://www.coloradoforeclosurehotline.org/

There is nothing they have not encountered and are there to help. If your home is foreclosed you can be qualified again for an FHA loan in 3 years and start over.

Robert McGuire ASR
Realtor/Consultant
Your Castle Real Estate
1776 S. Jackson St. #412
Denver CO 80210
Direct – 303-669-1246
http://rmcguire.yourcastle.org
0 votes Thank Flag Link Sun Apr 15, 2012
Dee,

It won't be necessary at this stage. The home is sold and no longer belongs to you. The intent to cure would only be necessary if you wanted to try to come up with the money (back payments, leins, and lawyer fees) and keep the home. The intent to cure has a deadline to be filed which I believe is about 15 -30 days before the sale date. Good success with your future plans.

Robert McGuire ASR
Realtor/Consultant
Your Castle Real Estate
1776 S. Jackson St. #412
Denver CO 80210
Direct – 303-669-1246
http://rmcguire.yourcastle.org
0 votes Thank Flag Link Fri Apr 13, 2012
It depends... The bank can withdraw it only to file it again if you are still in default. You should seek a local lawyers advice as your state law my be different. You may want to still file if you are still in default, good luck working things out
Web Reference: http://www.ScottSellsNH.com
0 votes Thank Flag Link Fri Apr 13, 2012
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