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In Connecticut, all foreclosures take place through the court system. Typically, it takes about 2 or 3 months to foreclose on a property in Connecticut. However, that time frame can be extended by the court.
In a strict foreclosure, the court sets the redemption period, which is the time between the judgment and the Law Day. The Law Day can be as soon as 21 days after the court enters a judgment of strict foreclosure, but it's typically between 45 and 90 days after the judgment.
HOW LONG DOES A FORECLOSURE TAKE FROM START TO FINISH? On average, three to six months. 7. CONNECTICUT USES BOTH STRICT FORECLOSURE AND FORECLOSURE BY SALE.
Put your name, address, phone number, loan number, and date on the top of the letter. List the name and address of your lender. information about any money you have saved for a workout agreement. Tell the lender you are working with a foreclosure counselor and include their name and agency.
In Connecticut, mortgage and other foreclosures fall into one of two categories; either Strict Foreclosure (no equity-debt greater than value of property) or Foreclosure by Sale (enough equity to justify auction considering costs of sale- debt less than value of property).
Under federal law, the servicer usually can't officially begin a foreclosure until you're more than 120 days past due on payments, subject to a couple of exceptions.