Connecticut Foreclosure Law Summary

In Connecticut, only judicial foreclosure isForeclosure by sale
conducted.In strict foreclosure, there is no actual sale of
What is the processing period for foreclosure inproperty. Lender has to go to court and obtain
Connecticut?court order mentioning that the borrower is in
Normally processing period is of two months indefault. If he succeeds in that, the property is
Connecticut.transferred in his name automatically. But court
Is there any right of redemption in Connecticutalso give some time to borrower for the
for foreclosure?payment, if he fails in doing so, it goes to lender
No, there is no right of redemption.automatically. Then the lender has to record a
Are deficiency judgments permitted incertificate of foreclosure within 30 days which
Connecticut?should have description of property, the
Yes, deficiency judgments are permitted inforeclosure proceedings, the mortgage and the
Connecticut.date the title became absolute.
Which law provision governs foreclosure inIn foreclosure by sale, the court decides time and
Connecticut?manner of the sale, appoints a committee for said
The laws which govern Connecticut foreclosuressale and also appoints three appraisers to
are found in Title 49 (Mortgages and Liens),determine the property value. The borrower has
Chapter 846 (Mortgages), §49-1 toright to stop the sale by giving balance payment
§49-31j of the General Statutes ofany time. Generally sale occurs on the property
Connecticut.on a Saturday. A deposit of 10 percent of the
What happens during Judicial Foreclosure inproperty's value is required from the winning
Connecticut?bidder, unless the lender is the winning bidder.
There are two types of foreclosures followed inThis is legal information; it should not be treated
Connecticut.as legal advice.
Strict foreclosure