Colo. Rev. Stat. § 38-40.5-104: Effect of…

(a) For a mortgage modification described in subsection (b) of this section:

(1) The mortgage continues to secure the obligation as modified;

(2) The priority of the mortgage is not affected by the modification;

(3) The mortgage retains its priority regardless of whether a record of the mortgage modification is recorded in the office of the county clerk and recorder in the county where the property is located; and

(4) The modification is not a novation.

(b) Subsection (a) of this section applies to one or more of the following mortgage modifications:

(1) An extension of the maturity date of an obligation;

(2) A decrease in the interest rate of an obligation;

(3) If the change does not result in an increase in the interest rate of an obligation as calculated on the date the modification becomes effective:

(A) A change to a different index that is a recognized index if the previous index to which changes in the interest rate were linked is no longer available;

(B) A change in the differential between the index and the interest rate;

(D) A change from a fixed rate to a floating or adjustable rate based on a recognized index;

(4) A capitalization of unpaid interest or other unpaid monetary obligation;

(5) A forgiveness, forbearance, or other reduction of principal, accrued interest, or other monetary obligation;

(6) A modification of a requirement for maintaining an escrow or reserve account for payment of an obligation, including taxes and insurance premiums;

(7) A modification of a requirement for acquiring or maintaining insurance;

(8) A modification of an existing condition to advance funds;

(9) A modification of a financial covenant; and

(10) A modification of the payment amount or schedule resulting from another modification described in this subsection (b).

Source: L. 2026: Entire article added, (HB 26-1089), ch. 76, p. 301, § 1, effective August 12.