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Foreclosure lien

ColoradoForeclosure

When can i foreclose on lien if i am a construction sub and have not been paid in almost 3 months?

3 replies

Oct 21, 2022

I am sorry about the issues. I am going to assume that you served a timely and accurate intent to lien and filed your lien. 

 If you want to enforce the lien (called lien foreclosure),
the lawsuit must be filed within six months after the later of the
following:(1) the last date that work was performed; (2) the last date that materials were furnished; or (3) the date that the building or
improvement on the property was completed. This can be a complicated
calculation and must be determined exactly as the application of the timeline
is strict and you have the burden of proving the suit was timely filed. Your
attorney would also file a lis pendens. 

  

Whether it makes sense to foreclose depends, in part, on the
amount due. If the amount is $10,000 or less, foreclosure may not make
financial sense given the costs for the litigation guarantee, service on all
the possible parties, and other factors. If the amount due is $8500, it may
make the most sense to proceed in small claims.  

  

As noted, you are not required to foreclose. You can sue in and
then try to win that suit and proceed to try to collect. A foreclosure action
is not the only means to try to collect the amount due. 

  

Lawsuits, other than small claims, are complicated and time-consuming
process that require getting at least limited legal assistance.  

  

If you cannot afford a full representation, you should
contact an attorney and consider having a limited representation. In this
representation, the attorney provides specified services and they do not enter
as the attorney of record in the case. This is normally less expensive and
requires a smaller retainer. Our office and others offer limited
representation. This is a brief overview https://bit.ly/3xY5VJS.
 

  

Reach out to attorneys ASAP to help you get started.   

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Oct 22, 2022

Thanks. Can i foreclose if work on property has stopped and is not completed?

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Oct 23, 2022

If the intent to lien and lien filing were done exactly as required under the law, yes. As I explained, whether it makes sense to foreclose depends in part on what you are due. Foreclosure is a district court lawsuit that must additionally follow various other requirements. A foreclosure lawsuit will require the assistance of an attorney as district court is complicaed. If the services provided were through an entity, then an attorney is mandatory as you cannot represent an entity. 

Before you consider doing anything else, contact an attorney for a consultation as mistakes in any part of this process can harm or end your lien rights and harm your options. 

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