Connecticut Foreclosure

Connecticut is one of only three states that uses strict foreclosure. A strict foreclosure does not involve a judicial sale of the property. Instead, each of the individuals or entities that holds an interest in the property being foreclosed are assigned Law Days. Law Days are assigned in inverse order of priority.

Lenders will seize the home, which is typically used as collateral for the loan and will put the property up for sale to try and recoup losses. The foreclosure process from beginning to end typically takes a lender about 18 months to foreclose on a property during normal times.

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.

A decade ago, a home in Connecticut could be sold to another party about 12 months after a borrower stopped paying a mortgage. These days, it's more like five years. The national average for liquidation timelines in 2016 reached 48 months.

In Connecticut, all foreclosures take place through the court system. Typically, it takes about 2 or 3 months to foreclose on a property in Connecticut. However, that time frame can be extended by the court.

Connecticut is one of only three states that uses strict foreclosure. A strict foreclosure does not involve a judicial sale of the property. Instead, each of the individuals or entities that holds an interest in the property being foreclosed are assigned Law Days. Law Days are assigned in inverse order of priority.

Generally, homeowners have to be more than 120 days delinquent before a foreclosure can begin. If you're behind in mortgage payments, you might be wondering how soon a foreclosure will start. Generally, a homeowner has to be at least 120 days delinquent before a mortgage servicer starts a foreclosure.