The first thing that I would do is speak with the Colorado Attorney General's office. I believe that have a liaison that can explain the basics of a foreclosure. If the foreclosure has begun, you have a right to contest it in several ways. First, if you have proof that you made all of the payments, you have a right to contest the "Rule 120" hearing. The purpose of this hearing is to determine whether in fact, you are in breach of your loan agreement. If you are just contesting the amount, the only real way to do that is to talk with the attorney that is foreclosing on the property or send notice to the public trustee that you intend to cure and that you want a full accounting of the cure provisions. As noted in a previous answer, you should consult an attorney.
Michael J. Katz
Corporon & Katz, LLC
Answered on Feb 23rd, 2012 at 12:53 PM