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<h3>Foreclosure Process Overview</h3>
<p>Colorado allows for both judicial (in-court) and non-judicial (out-of-court) foreclosure proceedings. Managed by a public trustee, the non-judicial foreclosure process is the most common, taking about six months. Judicial foreclosures, on the other hand, are not commonly used in Colorado.</p>
<table id="state_overview" width="100%" cellspacing="0" cellpadding="0">
<tbody>
<tr>
<td style="text-align: center;"><strong>Judicial</strong></td>
<td style="text-align: center;"><strong>Non Judicial</strong></td>
<td style="text-align: center;"><strong>Comment</strong></td>
<td style="text-align: center;"><strong>Process Period</strong></td>
<td style="text-align: center;"><strong>Publish Sale</strong></td>
<td style="text-align: center;"><strong>Redemption Period</strong></td>
<td style="text-align: center;"><strong>Sale/NTS</strong></td>
</tr>
<tr>
<td style="text-align: center;">•</td>
<td style="text-align: center;">•</td>
<td style="text-align: center;">Judicial rarely</td>
<td style="text-align: center;">145 days</td>
<td style="text-align: center;">60 days</td>
<td style="text-align: center;">None</td>
<td>Trustee</td>
</tr>
</tbody>
</table>
<h3>Pre-foreclosure Period</h3>
<p>The public trustee for each county is either appointed by the governor or elected by the public. The non-judicial foreclosure process begins when a lender files the appropriate documents with the public trustee to request a sale of the property. Once the public trustee officially records the foreclosure action, a foreclosure sale can be scheduled.</p>
<p>After the sale is scheduled, the lender still has to obtain a separate court order allowing the sale. The court schedules a hearing to consider the matter, and all affected parties are notified. If no one contests that the borrower is in default, the court allows the sale without a hearing.</p>
<p>If the borrower plans to pay off the default and stop the foreclosure, he or she needs to submit notice of his intention to do this to the public trustee at least 15 days before the sale. If this is done, the borrower can pay off the default and stop the foreclosure process up until noon of the day before the sale.</p>
<h3>Notice of Sale / Auction</h3>
<p>The public trustee schedules the sale 110 to 125 days after the initial foreclosure action was recorded. The notice of sale is published in a local newspaper for 12 weeks. The public trustee also mails a copy of the notice to the borrower.</p>
<p>The public trustee typically conducts the sale at the courthouse. At the sale, the public trustee reads the written bid submitted by the lender, and any party may bid. If anyone other than the lender is the winning bidder, that person must deliver the amount bid in cash – or by cashier’s check – to the public trustee. The winning bidder is given a certificate of purchase.</p>
<p>There is no longer any redemption period for the previous owner after a foreclosure sale in Colorado.</p>
<blockquote>
<h4>More Resources</h4>
<p><a title="Learn how to prevent a home foreclosure" href="/real-estate-guides/foreclosure-prevention/">Learn how to prevent a home foreclosure</a><br />
<a title="Get help stopping a home foreclosure" href="/real-estate-guides/foreclosure-prevention/stop-foreclosure/">Get help stopping a home foreclosure</a><br />
<a title="Search foreclosures in Colorado" href="http://www.realtytrac.com/mapsearch/colorado-foreclosures.html">Search foreclosures in Colorado</a><br />
<a title="Learn how to buy foreclosures" href="/real-estate-guides/how-to-buy-foreclosures/">Learn how to buy foreclosures</a></p>
</blockquote>
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Colorado Foreclosure Laws

Colorado Foreclosure Laws - RealtyTrac

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Resource

RealtyTrac

Manuel is an expert in all things real estate, including buying and flipping homes.

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Manuel Martinez

New York

<p>Defying market expectations, the <a href="https://www.realtytrac.com/market-trends/dallas-tx/">Dallas housing market</a> finished 2023 on a strong footing. Particularly striking was the increase in average property values in the city; notably, the average value for a home in Dallas County in the last month of 2023 was pegged at $376,000 – an upswing from $368,000 in the same period in the previous year.</p>
<p><img loading="lazy" decoding="async" class="aligncenter size-full wp-image-25073" src="https://nicautomation.wpengine.com/wp-content/uploads/2024/01/Dallas-TX-home-prices.png" alt="Dallas TX home prices" width="1447" height="583" /></p>
<p>Similarly, the sold price per square foot followed a comparable trajectory – from the average of $234 in December 2022, it nudged up to $246 in the corresponding month of 2023. However, the number of properties sold saw a minor fluctuation, peaking at 7,444 in January 2023 and slouching slightly to 7,180 by December of the same year.</p>
<h2>Dallas vs. Nearby Markets</h2>
<p>Dallas underperformed nearby markets, such as Wylie and Wilmer which both showed considerably higher median homes values than Dallas. The <a href="https://www.realtytrac.com/resources/selling-your-home-heres-what-you-need-to-know-about-closing-costs/">average home value</a> in Wylie last year was $490,000 compared to Dallas’s $376,000.</p>
<p>Still, the average sold price per square foot in Wylie suggests that homes in this area may either be more substantial or that the market attributes higher value to land over structure as compared to Dallas. Conversely, Wilmer trails behind Dallas with an average property value pegged at $227,000 in the last month of 2023.</p>
<h3>Dallas Sees Rising Median Values Per Square Foot</h3>
<p>There was an increase in value per square foot: from as low as 226 in December 2020 to $239 in December 2023 (an increase of 6% YoY)</p>
<p><img loading="lazy" decoding="async" class="aligncenter size-full wp-image-25074" src="https://nicautomation.wpengine.com/wp-content/uploads/2024/01/Dallas-tx-sq-ft.png" alt="" width="1438" height="577" /></p>
<p>Over 2023, the median transaction values remained consistent – with the value for properties sold in the last six months reaching $355,807, and the value for those sold in the last 12 months marginally higher at $362,418.</p>
<p>Dallas’s real estate market is embroidered with a patchwork of various zip codes, each with its unique pricing trends and values. This diversity is evident in the array of median list prices and values across these areas indicating the presence of both high and low demand zones.</p>
<p>In summary, 2023 was a year of growth propelled by increasing property values and a high number of transactions in the Dallas, TX real estate market. Neighboring cities also showcased unique trends, making the entire region an exciting hub for a wide ambit of real estate investment opportunities.</p>


Market Reports

Dallas Ends 2023 on Strong Note: Surge in Home Prices and Robust Market Activity Reflect Dynamic Growth

The Dallas housing market ended 2023 strongly with a noticeable increase in median property values and high transaction activity, demonstrating robust growth against statewide rental constraints. Depicting a compelling landscape for real estate investment, the market’s strength varies across local and nearby markets such as Wylie and Wilmer.

Dallas Ends 2023 on Strong Note: Surge in Home Prices and Robust Market Activity Reflect Dynamic Growth - RealtyTrac

https://www.realtytrac.com/wp-content/uploads/2024/01/market-report-realtytrac-7.png

<h3>Foreclosure Process Overview</h3>
<p>South Dakota foreclosures are accomplished most commonly through the court system. Certain mortgages may be foreclosed either in court or via advertisement, though foreclosure by advertisement is uncommon.</p>
<table id="state_overview" width="100%" cellspacing="0" cellpadding="0">
<tbody>
<tr>
<td style="text-align: center;"><strong>Judicial</strong></td>
<td style="text-align: center;"><strong>Non Judicial</strong></td>
<td style="text-align: center;"><strong>Comment</strong></td>
<td style="text-align: center;"><strong>Process Period</strong></td>
<td style="text-align: center;"><strong>Publish Sale</strong></td>
<td style="text-align: center;"><strong>Redemption Period</strong></td>
<td style="text-align: center;"><strong>Sale/NTS</strong></td>
</tr>
<tr>
<td style="text-align: center;">•</td>
<td style="text-align: center;">•</td>
<td style="text-align: center;">Judicial mostly</td>
<td style="text-align: center;">150 days</td>
<td style="text-align: center;">23 days</td>
<td style="text-align: center;">30-365 days</td>
<td>Sheriff</td>
</tr>
</tbody>
</table>
<h3>Pre-foreclosure Period</h3>
<p>In South Dakota, the foreclosure process is initiated by the lender submitting a complaint in court of the borrower’s default. For most foreclosures, the borrower has 30 days to answer court filing before the foreclosure process continues.</p>
<p>South Dakota does not require lenders to mail a default notice to the borrower before initiating the foreclosure process; however, many mortgages require this.</p>
<h3>Notice of Sale / Auction</h3>
<p>Once the court has ruled that the foreclosure can continue, the lender publishes a notice of foreclosure sale in a local newspaper. In addition, at least 21 days before the sale, the lender must deliver a written copy of sale notice to the borrower and any lien holders.</p>
<p>Once publication requirements are met, the county sheriff conducts a sale between the hours of 9 a.m. and 5 p.m. Anyone, including the lender may bid at the sale. After sale, the winning bidder is provided with a sale certificate and is entitled to a deed transferring ownership once the redemption period expires.</p>
<p>The borrower and any lien holders have the right to redeem the property and void the sale by repaying the total amount of the amount owed. Redemption also requires written notice to the purchaser and the person making the sale. The redemption period is six months unless the property is vacant, in which case the redemption period is two months.</p>


South Dakota Foreclosure Laws

South Dakota Foreclosure Laws - RealtyTrac

<p>Under Louisiana foreclosure laws, only judicial foreclosures are permitted. However, there are two types of judicial foreclosure in Louisiana: executory and ordinary. Louisiana foreclosures can take from 180 to 270 days, depending on whether the foreclosure is ordinary or executory and whether the homeowner contests the foreclosure. Executory foreclosures are technically judicial foreclosures but permit lenders to avoid many of the steps typically considered part of a judicial foreclosure. Ordinary judicial foreclosures follow the conventional timeline in which a lender sues a homeowner for mortgage loan delinquency and, ultimately, proves their case and is awarded a foreclosure judgment by the court. The ordinary process is more extensive and costly, and it works more like a lawsuit. This foreclosure process usually lasts about nine months. Most Louisiana foreclosures are executory in nature.</p>
<h2>The Louisiana Pre-Foreclosure Process</h2>
<p>As in most other states, federal law discourages the initiation of foreclosure proceedings in Louisiana until the borrower has fallen 120 days past due on their mortgage loan payments. Although this period of time is not officially part of the pre-foreclosure process, real estate investors should consider it an essential part of investment strategy because many homeowners in this stage feel they have entered “pre-foreclosure” and may be considering selling their properties.</p>
<p>When a Louisiana homeowner misses a payment on their home loan, the servicer has the option to extend a “grace period” during which the borrower may simply make the missed payment without incurring fees, fines, or penalties. In most cases, this period is about 15 days, but Louisiana foreclosure law does not set a definite length.</p>
<p>Lenders are required by federal loan servicing laws to contact the homeowner by phone or in person to discuss foreclosure alternatives and loss mitigation options no more than 36 days after each payment is missed. No more than 45 days after each payment is missed, the servicer must provide information about these options in writing and assign an individual to the case. Many Louisiana home loans also include provisions requiring lenders to send a “breach letter” to the borrower letting them know that they will face foreclosure if the debt remains unpaid and that the lender may have the option to accelerate the foreclosure if the delinquency goes unaddressed.</p>
<h3>Executory Foreclosures</h3>
<p>If a borrower has agreed in the terms of their loan that the lender may obtain a judgment “on default,” also called a “confession of judgment,” then the lender may file a foreclosure petition in court after pursuing all requisite pre-foreclosure actions. The lender attaches the mortgage to the foreclosure petition in order to have the court order the property seized and then sold. Homeowners can stall or halt this process by appealing the petition or bringing suit against the lender.</p>
<p>More details on executory foreclosures:</p>
<p>The executory process involves the lender using a mortgage that includes an “authentic act that imparts a confession of judgment” in which the borrower accepts the obligations under the mortgage. The lender is not required by state law to send any notification to the borrower before beginning the foreclosure process; however, the deed of trust or mortgage may include such a requirement. Either way, once the petition is filed, the borrower is served with a demand for the default amount. If the borrower does not provide the amount within three days, the court orders a writ of seizure and sale, and the clerk delivers it to the sheriff. The sheriff delivers the writ of seizure to the borrower. Louisiana foreclosure laws require the notice of seizure to include information about avoiding foreclosure, availability of free housing counseling, and the time, date, and location of the sheriff’s sale. The initial sale date cannot be sooner than 60 days from the date that the court signed the foreclosure order.</p>
<p>Once the sheriff serves the writ of seizure, they also must publish the notice of sale. The sale is a public auction, and the notice of sale must be published at least twice in a newspaper in the parish where the property is located. The sheriff conducts the sale, and anyone may bid including the borrower. The winning bidder must pay the sale price in cash on the day of the sale, or in some cases, within 30 days of the sale if a 10-percent deposit is made. The sheriff then issues a deed to the winning bidder.</p>
<h3>Deficiency Judgments and Rights of Redemption in Louisiana</h3>
<p>In the event that the sale of the Louisiana foreclosure does not bring in enough money to cover the money owed on the property, the lender can file suit for a deficiency judgment against the former homeowner. However, this is only an option if the property was appraised before the sale. In order to obtain a deficiency judgment, the lender must:</p>
<p>1.         <strong>File a separate suit after the executory foreclosure </strong>or</p>
<p>2.         <strong>Convert the executory procedure to an ordinary procedure</strong></p>
<p>This is important information for a real estate investor interested in buying Louisiana foreclosures because a potential seller should know under what circumstances they might face a deficiency judgment and owe additional money after losing their house via Louisiana foreclosure laws.</p>
<p>Louisiana does not offer former homeowners the right to redemption after the foreclosure sale. Once the sale is complete, a borrower has no recourse for recovering the home.</p>
<h3>What Happens When You Buy Louisiana Foreclosures?</h3>
<p>Once you have successfully purchased a Louisiana foreclosure, your deed will be recorded and you will have the right to get a writ of possession from the court. Once you obtain this, you can evict the former homeowner from the property. However, Louisiana, like many states, has enacted foreclosure and eviction moratoriums on at least one occasion since the housing crash in the mid-2000s. In April 2020, due to the COVID-19 pandemic, Louisiana Governor John Bel Edwards extended an executive order that would protect eligible borrowers and tenants from being evicted from their homes for nonpayment on their home loans or rent. In most cases, these properties may not get to the point of a foreclosure sale, but real estate investors who buy Louisiana foreclosures  must remain abreast of legislation and regulation that might affect their ability to acquire and control these properties.</p>
<p>RealtyTrac is here to help you buy investment properties whether this is your first deal or your 500<sup>th</sup>. Our vast database of national foreclosures, REOs, and bank-owned properties is perfect for helping you find the best real estate investment for you. <a href="https://www.realtytrac.com/profile/registration.aspx"><strong>Sign Up Now</strong></a><strong> </strong>and take full advantage of RealtyTrac’s FREE Trial, which allows you to search our real estate inventory free for 7 days. The perfect investment property could be waiting for you right around the corner!</p>
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Louisiana Foreclosure Laws

Louisiana foreclosure laws and pre-foreclosure processes are important for real estate investors. Get all the necessary information here on RealtyTrac

Judicial	Non Judicial	Comment	Process Period	Publish Sale	Redemption Period	Sale/NTS
•	•	Judicial rarely	145 days	60 days	None	Trustee