Colorado Supreme Court Sides With Bank in Home Mortgage Velocity Conflict

The Colorado Supreme Court has actually ruled that a debtor’s personal bankruptcy discharge does not speed up home loan payments, nor does it activate the statute of restrictions for the staying payments.

” To what degree does a debtor’s discharge in personal bankruptcy supply a safe harbor from a bank’s effort to foreclose on the debtor’s house?” composed Colorado Supreme Court Justice William Hood III, opening the court’s April 24 viewpoint “The response depends in part on whether personal bankruptcy impacts the quantity of time that the bank needs to impose a deed of trust protecting a home mortgage once the debtor remains in default. The stakes are high for banks and customers, so we weigh in here.”

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