The Colorado Supreme Court docket has dominated {that a} debtor’s chapter discharge doesn’t speed up mortgage funds, nor does it set off the statute of limitations for the remaining funds.
“To what extent does a debtor’s discharge in chapter present a secure harbor from a financial institution’s effort to foreclose on the debtor’s residence?” wrote Colorado Supreme Court docket Justice William Hood III, opening the court docket’s April 24 opinion. “The reply relies upon partially on whether or not chapter impacts the period of time that the financial institution has to implement a deed of belief securing a mortgage as soon as the debtor is in default. The stakes are excessive for banks and debtors, so we weigh in right here.”
