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who do I talk to for initiating foreclosure on a job that I have a lien on?

ColoradoForeclosure

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2 replies

Oct 18, 2022

You talk to an attorney. Foreclosure is a lawsuit that includes other requirements necessary to foreclose on the lien. Your attorney will go over your various options. If foreclosure is the best option for this matter and they proceed, the first thing they will do is order a litigation
guarantee from a title company. Getting this certificate can take about a week
for the title company depending on their other projects.  

 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 18, 2022

I second my colleague above. The amount in dispute, your financial condition, and the status of encumbrances on the property all impact whether it's worth foreclosing, or suing at all. Feel free to call our office at 7205007855.

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