I am being told if I let my lien foreclosure time go by that I can still keep a lien on that property by just renewing it every year?
Colorado mechanics liens expire either (1) 6 months after the project completion date; or (2) 6 months after the claimant last provided labor or material to the project - whichever is later. If the deadline comes and goes without lien enforcement action, the lien will expire and no longer be valid and enforceable. Though, that doesn't men the lien will just disappear: Do Mechanics Liens Affect the Property Title Forever?
Unfortunately, CO lien claimants aren't able to renew their liens or extend the deadline for filing and enforcement action (though, the time to actually file the initial mechanics lien claim can be extended ). So, if the 6 months pass, some other recovery option may become necessary. Of course, note that there are some steps before enforcement which can help you get paid: The 4 Steps to Take After Filing a Mechanics Lien.
If you're considering enforcing your lien, or would like some help weighing the pros and cons of doing so, one of these Colorado lawyers may be able to help: Top Colorado Construction Lawyers.