Colorado § 11-38-106 - Lender default.
Full text of Colorado Colorado Revised Statutes § 11-38-106 — Lender default., with citation guidance and answers to common questions.
§ 11-38-106. Lender default.
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.
Source: L. 92: Entire article added, p. 941, § 1, effective April 23.
Frequently Asked Questions About Colorado § 11-38-106
What does Colorado Revised Statutes § 11-38-106 cover?
Section 11-38-106 ("Lender default.") is part of the Colorado Revised Statutes, the codified statutory law of Colorado. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Colorado § 11-38-106?
A common citation format is "Colorado Revised Statutes § 11-38-106" (Colorado). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Colorado law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Colorado official source linked on this page or consult a licensed Colorado attorney.
How does Colorado § 11-38-106 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Colorado can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Colorado.