CO SB045

Increases notice period for residential mortgage foreclosure from 30 days to 60 days before filing foreclosure notice.

Requires mortgage holders to negotiate in good faith for mutually acceptable agreements to avoid foreclosure and provide contact information for loss mitigation representatives.

Mandates court-appointed mediation before authorizing foreclosure sales, with mediator to be scheduled within 15 days and holding both debtor and lender accountable for participation.

Requires mortgage holders to pay all mediation costs and allows courts to sanction holders who fail to appear, provide documents, or negotiate in good faith.

Voids any pre-default waivers of mediation or deferment rights as against public policy and grants mediators immunity from civil liability for good faith actions.