Quick Facts

–  Judicial Foreclosure Available: Yes

–  Non-Judicial Foreclosure Available: No

–  Primary Security Instruments: Mortgage

–  Timeline: Typically 60 days

–  Right of Redemption: No

–  Deficiency Judgments Allowed: Yes

In Connecticut, lenders may foreclose on a mortgage  in default by using the judicial foreclosure process.

Judicial Foreclosure

The judicial foreclosure process in Connecticut is  carried out by either strict foreclosure or a decree of sale.

With strict foreclosure, no actual foreclosure sale  is held. Instead, the lender goes to court to try and obtain a court order demonstrating  the borrower is in default of the mortgage. If successful, the title transfers to  the lender immediately.

However, the court sets an established amount of  time in which the borrower may redeem the property, but if they fail to do so, the  title becomes absolute to the lender and the borrower has no longer has any claim  to the property. The lender then has thirty (30) days to record a certificate of  foreclosure, which must contain a description of the property, the foreclosure proceedings,  the mortgage and the date the title became absolute.

With a decree of sale, the court: 1) establishes  the time and manner of the sale; 2) appoints a committee to sell the property; and  3) appoints three appraisers to determine the value of the property.

The borrower may stop the foreclosure proceedings  at any time before the sale by paying the balance due on the mortgage. If no such  payment is made, the committee will go forward with the sale.

The lender may sue to obtain a deficiency judgment  in Connecticut.

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More  information on Connecticut foreclosure laws.

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