Connecticut Foreclosure Laws

The foreclosure laws for the east coast state of Connecticut are as follows. The state allows for the judicial foreclosure but does not recognize the non-Judicial method of foreclosure, which is unlike a lot of the other states in the country.

The only instrument that is used for security in the state of Connecticut is the mortgage, which is also unlike the majority of the states who also allow the Deed of Trust. A mortgage foreclosure here is typical to run the length of sixty days from start to end.

There is no right of redemption here so the foreclosed individual has no rights to repurchase the property once it has been foreclosed. On the other side of the coin, the lender is allowed to file against the foreclosed homeowner to get a deficiency judgement against them as well.

The state is very strict on foreclosures and forces the lender to file a lawsuit and obtain a court order to foreclose a property either through a strict foreclosure or a decree of sale.

In a strict foreclosure the lender petitions the court to obtain a court order showing that the borrower is in default of the mortgage. If the lender is successful, the title is immediately transferred to the lender. In this case no actual foreclosure sale is held as part of a strict foreclosure proceeding.

The court may however elect to set an established timeframe in which the borrower may redeem the property. If the borrower fails to do so during the allotted time, absolute title passes to the lender and the borrower no longer has any claim to the property.

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