Connecticut Foreclosure Laws
Attorney General's Office
55 Elm Street
Hartford, CT 06106
Ph: (203) 566-2026
Fax:(203) 566-1704
Foreclosure Laws in Connecticut
Judicial Foreclosure: Yes
Non-Judicial Foreclosure: No
Security Instruments: Mortgage
Right of Redemption: Court's Discretion
Deficiency Judgments: Yes
Time Frame: 7-9 Months
Public Notice: Complaint
Judicial foreclosure: In Connecticut is a fairly complex process
with two procedures available to the foreclosing lender, strict foreclosure, and
foreclosure by decree of sale. The process begins when a lis pendens is recorded
and a complaint for foreclosure served on the borrower at least 12 days before the
complaint is filed with the court If the borrower cannot be found, multiple newspaper
publications may be ordered by the court.
In strict foreclosure, there is no sale. This usually used when there is no equity
in the property. The lender goes to court and proves default and title is conveyed
to the lender immediately. However the court usually provides a set time for the
borrower to redeem the property. If the borrower fails to do so, title becomes absolute
to the lender.
The court enters a decree of sale: If there is equity in the property
(or if there is a federal lien), and a committee appointed to conduct the sale.
The length of the redemption period between judgment of sale and the sale date is
at the discretion of the judge; Hardship cases may prolong the redemption period.
Redemption is by payment of the balance due on the mortgage plus costs.
Lenders may sue to obtain a deficiency judgment for any balance due after the sale.
Confirmation of the sale by the court takes at least 30 days.
Laws:
