Connecticut Foreclosure Laws

Attorney General’s Office

55 Elm Street
Hartford, CT 06106
Tel: (860) 808-5318
www.ct.gov/ag/site/default.asp

Type of Document: Mortgage

Types of Foreclosure:

Judicial: The court has the property appraised by three appraisers and then appoints a committee to sell the property. The only way the borrower may stop the foreclosure is by paying off the loan, unless the lender allows otherwise.

Strict foreclosure: An unusual method by which the lender obtains a court order showing the borrower to be in default. Once this order is obtained, ownership immediately transfers to the lender without a sale being held.

Deficiency: May be obtained in both types of foreclosures.

Redemption: The court decides in each separate case.

Oddities of the state: If a home owner is considered under-employed or is unemployed, special circumstances may be considered. The loan may be restructured to fit the new budget. During this time (not more than six months), the foreclosure process stops. The formula for under-employment is earning less than $50,000 and less than 75% of the normal wage of the household during the two years prior to the foreclosure. Did you get that?

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