Foreclosure in Colorado

[BillyRip]

Received a letter from the lender that they are going to start the foreclosure process. I guess they really need to take over my utils & $200 a mo. HOA fees to get this $100K condo. LOL!

How long do I have before they give me a date of sale? Is there a minimum amount of time that they have to give me? I mean they're not going to put a notice on my door that I have 3 days to vacate, right? I have no interest in keeping this condo as there are about 5 units in my complex alone that are in FC or Short Sells. I owe about $135K and they don't even sell for $120K now, was $150K when I bought it new in 2003. Can't afford to keep it anymore.

Thank you...

[HHM]

Once the mortgage is given to the public trustee (the person that does the foreclosure), the date is usually about 4 months from then. If they only just sent you a letter stating they intend to foreclose, you probably have another 5-7 months before sale.

[JoeBankrupt33]

I was foreclosed on in Colorado. My last payment was in December 07, I got a notice of sale around June 08. The sale was mid October. You can probably stay there quite a while.

[BillyRip]

Thank you both... Two of the hardest hit area codes are in my county, so I'm guessing it will be at least a few months out.

-BFR