DENVER, CO., May 4, 2010 — Castle Meinhold & Stawiarski, LLC, a provider of high-quality legal representation, focusing on commercial, foreclosure, bankruptcy and mortgage-related litigation, is pleased to announce that the new expedited foreclosure process for abandoned properties legislation, which the firm had been working on with the Governor’s policy office and public trustee association for months, has been signed into law. Castle, Meinhold & Stawiarski Partner Caren Castle made the announcement.
The Bill, known as HB 10-1249, was signed by Governor Bill Ritter, Jr. on April 29, 2010 and will take effect August 1st of this year. Castle, Meinhold & Stawiarski worked diligently with the state on developing the proposed process in order to expedite foreclosure sales on abandoned properties. The new legislation enables the holder of a loan to seek an expedited foreclosure sale (45-65 days from the date the Notice of Election and Demand is recorded) on vacant and abandoned properties. This drastically reduces the current time frame of 110-125 days.
“This is an important Bill for Colorado,” stated Castle. “Shortening the time frame on the sale of abandoned properties helps to reduce blight, sustains home values and benefits us all. We are honored to have played an active role in the development of this legislation.”
For more information about Colorado HB 10-1249, please visit http://www.colorado.gov/.
Denver, Colorado based Castle, Meinhold & Stawiarski, LLC provides expert legal representation, offering a wide range of legal services, including commercial, foreclosure, bankruptcy and mortgage related litigation in both state and federal courts. The firm represents clients through its offices in AZ, CO, NM, NV, UT and WY. For more information, please call 303-865-1400.