2026-09-10 · Colorado · Compliance

A Colorado association that forecloses on an assessment lien is now working against four separate deadlines, and one of them is triggered by a phone call. HB25-1043, the Owner Equity Protection in Homeowners' Association Foreclosure Sales Act, was signed June 4, 2025 and has been in force since October 1, 2025. It is the operative backdrop to every Colorado collections story, and a year in, the mechanics are still catching boards out.¹

Three advisements the collections policy has to carry

The association's collections policy under C.R.S. 38-33.3-209.5 must now contain three things, as the Division of Real Estate states them.

First, that an owner may request a ledger verifying amounts owed from a person representing the association or its agent — a board member or a manager — and that the association must provide it within seven business days. The Division notes the act does not specify how the owner must ask: “Email or telephone would be acceptable unless the association's policy indicates otherwise.”

Second, that failure to pay could lead to a lien and foreclosure, and that a foreclosure sale at auction “caus[es] the owner to lose some or all of the owners' equity in the unit.”

Third, that free information on HOA collections and foreclosure, and a link to credit counselling information, is available online through the state's HOA Information and Resource Center. The state built that page to be pointed at: it now sits at the Division's own site and covers assessments, delinquency, collection mechanics and the seven-business-day ledger right.²

The notice sequence

At least thirty days before initiating a foreclosure action, the association must give the delinquent owner all three advisements in both written and electronic form, and must notify the owner of the right to participate in mediation.

Within five business days after initiating, it must give written and electronic notice of the right to cure.

1. HB25-1043 summary, Colorado Division of Real Estate (the three advisements, the notice channels and the Division's own caveats) ↩
2. HOA Information about Assessments/Delinquency — the state page HB25-1043 notices must point to, Colorado Division of Real Estate ↩
3. HB25-1043, "Owner Equity Protection in Homeowners' Association Foreclosure Sales" — bill page, Colorado General Assembly ↩
4. HOA Center Advisory: Registration Changes Pursuant to Section 38-33.3-401, C.R.S. (September 22, 2025), Colorado Division of Real Estate ↩
5. Colorado HOA foreclosure investigation, Rocky Mountain PBS and ProPublica ↩