Courier staff writer
ALAMOSA COUNTY — After two years of financial problems and a Chapter 11 dismissal, the Rakhra Mushroom Farm is up for sale.
Alamosa County Treasurer and Public Trustee Lois Widhalm, who acts as a representative of the lender to effectuate the sale, told the Alamosa County Commissioners during their regular meeting on Wednesday she is not expecting the farm to withdraw from foreclosure before the land sale, which is independent from the county, scheduled on Wed., Nov. 6 starting at 10 a.m. at the Fourth Street offices.
Colorado primarily operates as a title theory state where the property title remains in trust until payment in full occurs for the underlying loan, according to Colorado foreclosure laws. Foreclosure is a non-judicial remedy under this theory.
Colorado law also permits mortgages to serve as liens upon real property and for judicial foreclosures to occur through the courts.
For the complete article see the 10-24-2013 issue.
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