In Colorado, which government official is responsible for conducting non-judicial foreclosure sales under a deed of trust?
Correct Answer
B) The county Public Trustee
Under C.R.S. § 38-38-101 et seq., Colorado uses a Public Trustee system in which each county has a government-appointed Public Trustee who holds title under a deed of trust and conducts the non-judicial foreclosure sale. This is a unique feature of Colorado law.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Closing costs are the fees and expenses paid by the buyer and seller at the closing of a real estate transaction, beyond the purchase price. They typically range from 2-5% of the purchase price.
A conventional loan is a mortgage that is not insured or guaranteed by a government agency such as the FHA, VA, or USDA. It is originated and funded by private lenders and may be conforming or non-conforming.
The debt-to-income ratio (DTI) compares a borrower's monthly debt obligations to their gross monthly income. It is used by lenders to determine how much mortgage a borrower can afford.
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