Connecticut Foreclosure
Allowed options under Connecticut Foreclosure are: judicial foreclosure and deficiency judgment. Non judicial foreclosure and right of redemption are not allowed. So only the mortgage is the security instrument and typically timeline is 60 days. There are two types of judicial foreclosures here. One is strict foreclosure the other is decree of sale. If the court holds up default the title is straight away transferred to the lender. Court allows the borrower to redeem his property in a definite period failing which the lender has to record the certificate of foreclosure in 30 days. In a decree of sale court sets the time frame and procedures, appoints a committee to sell and three appraisers to evaluate the value of the property. By paying the due balance borrower can stop the foreclosure at any point of time. Lender can obtain deficiency judgment.
More on foreclosure law
Search Foreclosure Listings for the major cities in Connecticut
Buying Foreclosure? 