CO HB1130

Requires holders or servicers of debt to provide borrowers with copies of receipts and credible evidence supporting all costs claimed on cure statements within thirty days of written request.

Mandates that borrowers receive refunds of any cure amounts that exceed actual costs incurred, including excess fees and costs from both the holder/servicer and the public trustee.

Establishes a seven business day deadline for holders or servicers to deliver a final reconciled statement after cure funds are received, adjusting for estimated costs that were not incurred.

Requires cure statements to be treated as representations of fact, with corrected statements needed at least ten calendar days before the sale date if inaccuracies are found.

Applies to all foreclosure proceedings where the notice of election and demand is filed on or after the effective date of the act.