Colorado § 11-38-106 Lender default

Colorado Statutes

§ 11-38-106 — Lender default

Colorado § 11-38-106

Title 11Financial

Art.Reverse Mortgages

This text of Colorado § 11-38-106 (Lender default) is published on Counsel Stack Legal Research, covering Colorado primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Colo. Rev. Stat. § 11-38-106 (2026).

Text

Any lender failing to make loan advances as
required by the terms of the reverse mortgage, and failing to cure such a default as
required by such terms, shall forfeit the right to collect any interest on such reverse
mortgage and shall be liable for any civil damages arising from such default. This
section shall not apply if the default is by an insurance company which is not owned
or controlled directly or indirectly by the lender and the default by the insurance
company is pursuant to an annuity purchased by a borrower with reverse mortgage
loan advances.

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Any lender failing to make loan advances as
required by the terms of the reverse mortgage, and failing to cure such a default as
required by such terms, shall forfeit the right to collect any interest on such reverse
mortgage and shall be liable for any civil damages arising from such default. This
section shall not apply if the default is by an insurance company which is not owned
or controlled directly or indirectly by the lender and the default by the insurance
company is pursuant to an annuity purchased by a borrower with reverse mortgage
loan advances.