Connecticut Foreclosure, Motion For Possession is a legal action taken by a creditor or a lender to reclaim a property that was used as collateral for a loan that has gone into default. It is the process of taking back property from a borrower who has failed to make payments on the loan. There are two main types of Connecticut Foreclosure, Motion For Possession: judicial and non-judicial. Judicial Foreclosure is a court-ordered process in which a court issues a judgment against the borrower and orders the sale of the property to repay the loan. The court may also issue a Writ of Possession, which allows the lender to take possession of the property. Non-judicial Foreclosure is a process in which the lender does not need to involve the court. This type of foreclosure is typically used when the borrower has not made payments on the loan for more than three months. The lender can then initiate the foreclosure process through a Notice of Default and a Motion for Possession. The Motion for Possession allows the lender to take possession of the property without having to go through the court system. Both types of Connecticut Foreclosure, Motion For Possession, require the borrower to vacate the property within a certain amount of time. If the borrower fails to do so, the lender can then proceed with the foreclosure process.
Connecticut Foreclosure, Motion For Possession is a legal action taken by a creditor or a lender to reclaim a property that was used as collateral for a loan that has gone into default. It is the process of taking back property from a borrower who has failed to make payments on the loan. There are two main types of Connecticut Foreclosure, Motion For Possession: judicial and non-judicial. Judicial Foreclosure is a court-ordered process in which a court issues a judgment against the borrower and orders the sale of the property to repay the loan. The court may also issue a Writ of Possession, which allows the lender to take possession of the property. Non-judicial Foreclosure is a process in which the lender does not need to involve the court. This type of foreclosure is typically used when the borrower has not made payments on the loan for more than three months. The lender can then initiate the foreclosure process through a Notice of Default and a Motion for Possession. The Motion for Possession allows the lender to take possession of the property without having to go through the court system. Both types of Connecticut Foreclosure, Motion For Possession, require the borrower to vacate the property within a certain amount of time. If the borrower fails to do so, the lender can then proceed with the foreclosure process.
