Connecticut Decree of Foreclosure — No Redemption is a court order granting a lender the right to sell a borrower’s property in order to pay off the debt. The lender can take steps to foreclose on the property without the borrower being able to redeem the property by paying off the debt. There are two types of Connecticut Decree of Foreclosure — No Redemption: Judicial Foreclosure and Non-Judicial Foreclosure. Judicial Foreclosure requires the lender to petition the court for a Decree of Foreclosure, which is then entered as a Final Judgment. After the Final Judgment is entered, the borrower has no right to redeem the property. Non-Judicial Foreclosure is commonly known as “power of sale” foreclosure. Under this type of foreclosure, the lender must file a complaint to initiate foreclosure proceedings and obtain a Decree of Foreclosure. The lender then publishes a notice of sale and the foreclosure sale is conducted without court oversight. After the sale, the borrower has no right to redeem the property.
Connecticut Decree of Foreclosure - No Redemption
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