Colorado Loan Modification Laws
- Colorado regulates “foreclosure consultants”.
- The State:
- Requires all contracts be in writing and provides for disclosures, statutory language for notices
- Provides for rights of rescission and cancellation at any time with written notice (fax, email, certified mail)’
- Prohibits upfront fees; power of attorney transfers; receipt of interest in real property.
- Licensed attorneys are exempt from the definition of “foreclosure consultant”.
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