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Connecticut Motion for Judgment of Foreclosure by Market Sale

Connecticut Motion for Judgment of Foreclosure by Market Sale

Name: Connecticut Motion for Judgment of Foreclosure by Market Sale
Brand: US Legal Forms
Price: 59.00 USD
Rating: 4.8 (250 reviews)

Category:

Connecticut Statewide - Civil

State:

Connecticut

Control #:

CT-JD-CV-151

Format:

Instant download

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Description

Motion for Judgment of Foreclosure by Market Sale Connecticut Motion for Judgment of Foreclosure by Market Sale is a legal action taken by a lender in order to secure a loan. It is the last step the lender takes in order to secure repayment of the loan or to take possession of the property that is being used to secure the loan. A motion for judgment of foreclosure by market sale allows the lender to sell the property at a public auction to recover any unpaid balance of the loan. There are two types of Connecticut Motion for Judgment of Foreclosure by Market Sale: accelerated foreclosure by market sale and non-accelerated foreclosure by market sale. With an accelerated foreclosure by market sale, the lender can set a sale date for the property within 60 days after the motion is granted. With a non-accelerated foreclosure by market sale, the lender must wait three months after the motion is granted before selling the property.

Connecticut Motion for Judgment of Foreclosure by Market Sale is a legal action taken by a lender in order to secure a loan. It is the last step the lender takes in order to secure repayment of the loan or to take possession of the property that is being used to secure the loan. A motion for judgment of foreclosure by market sale allows the lender to sell the property at a public auction to recover any unpaid balance of the loan. There are two types of Connecticut Motion for Judgment of Foreclosure by Market Sale: accelerated foreclosure by market sale and non-accelerated foreclosure by market sale. With an accelerated foreclosure by market sale, the lender can set a sale date for the property within 60 days after the motion is granted. With a non-accelerated foreclosure by market sale, the lender must wait three months after the motion is granted before selling the property.

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FAQ

Connecticut does not have a specific statute of limitations with regard to the commencement of a foreclosure action. However, Connecticut has a unique statute which may help debtors who have very old unpaid mortgages.

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.

Stat. § 49-10a (2021). Defenses: ?...'Historically, the defenses available in a foreclosure action have been limited to payment, discharge, release, satisfaction or invalidity of a lien.

All debts, including other mortgages, liens and court judgments still remaining after a foreclosure are also discharged from personal liability.

If the court orders a foreclosure sale, you can redeem the home between the judgment and the sale date, usually lasting 60 to 90 days. You can also redeem the home during the time the court takes to confirm the sale, usually 14 to 30 days.

?Connecticut is considered a 'title theory' state wherein the mortgagor debtor pledges property to the mortgagee creditor as security for a debt and conveys 'legal title' to the mortgaged premises; the mortgagor retains 'equitable title' or the 'equity of redemption'?.

Your lender can file a motion requesting either strict foreclosure or foreclosure by sale. The court generally allows strict foreclosure if you don't have much equity in the property. If what you owe on your house is about the same as, or more than, what the house is worth, then you don't have any equity.

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654.5 Judgment — sale and redemption. 1. When a mortgage or deed of trust is foreclosed, the court shall do all of the following: a.Summary judgment" is a judgment after a borrower formally responds to a foreclosure lawsuit. Plaintiff(s),, ORDER CONFIRMING REFEREE. REPORT AND JUDGMENT OF. FORECLOSURE AND SALE. v. Defendant(s). A summary judgment motion asks that the court grant judgment in favor of the lender because the case's critical aspects aren't in dispute. A Motion to vacate a final judgment. • A Motion to vacate a sale. If a temporary resolution occurs, both parties will complete the interim provisional settlement form. State law giving borrowers the right to request the fair market value be used to determine the deficiency judgment amount owed.

Connecticut Motion for Judgment of Foreclosure by Market Sale

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How to fill out Connecticut Motion For Judgment Of Foreclosure By Market Sale?

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FAQ

Is there a statute of limitations on foreclosure in CT?

How does a foreclosure sale work in CT?

What are the special defenses for foreclosure in CT?

Are you liable after foreclosure in CT?

Is there a foreclosure redemption period in Connecticut?

Is CT a redemption state?

What is a motion for strict foreclosure CT?

How long do you have to redeem a foreclosure in CT?

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