Search Connecticut Foreclosure Listings

Connecticut Foreclosure Listings

The eastern United States state of Connecticut contain the towns of Bridgeport, Hartford and New Haven, which are the largest three metropolis areas in the entire state.

The area of Connecticut is one that is rich in the tradition that actually formed our country and there is a heritage here that makes it a very good place to live and feel like you are an actual piece of history. It is fairly centrally located as far as states in this part of the country so it is easy to get to a lot of places in a fairly short amount of time. For that reason it is a state that has become increasingly more desireable for folks looking to relocate.

Property values here run a little higher than places in states slightly west of Connecticut and the cost of living is still somewhat low for the eastern portion of the country so you can still live here and afford to actually live.

Buying a Connecticut foreclosure listing can be a rather lengthy and complicated undertaking and the time to do so can vary greatly from 60 to as long as 150 days or even longer in some instances. The state offers what is called strict foreclosure in which there is no sale and the property simply reverts to the lender. This generally happens in a situation where there is no equity in the property. We are finding situations like this a lot lately with homes being upside down and loans being underwater. This is situation where the person owes more on the home or property than it is worth.

In cases like this the owner is notified or the notice is placed in the newspaper, a period of time is allowed for the borrower to correct the default and if that is not done, the title reverts to the lender without a public sale.

The court may offer an additional right of redemption and the lender has the ability to file for a deficiency judgement against the borrowers. Confirmation of any sale takes at least 30 days through the courts here.