Surplus funds recovery (overbids) from Colorado foreclosures can be recovered for free via the Great Colorado Payback website or the county Public Trustee within 6 months of sale. Funds are held locally for six months before transferring to the state’s unclaimed property division, which holds them indefinitely.
Key Details for Recovery:
- Where to Search: Check the official Great Colorado Payback website.
- Foreclosure Excess Funds: If your home was sold in a foreclosure auction for more than the debt owed, the excess (overbid) belongs to you. The local Public Trustee holds these funds for 6 months, after which they transfer to the State Treasurer.
- County Records: Search specific county websites, such as the Denver Public Trustee or Arapahoe County, for recent foreclosure lists.
- Cost: There is no cost to search or claim funds through the official State Treasurer’s office.
- Finder Fees: It is illegal for third-party “finders” to charge fees for helping you recover funds within the first 2.5 years of the funds being in the State Treasurer’s custody.
Steps to Take:
- Search the Great Colorado Payback database for your name.
- Check the “Excess Funds” lists on the websites of the county where the property was located.
- If funds are found, follow the specific county or state process to submit a claim.
