Connecticut Foreclosure Process. A broad overview follows: Foreclosures are equitable actions and the court retains a great deal of leeway to fashion a fair solution. However, usually, the foreclosing party is entitled to a judgment absent some type of mistake, fraud or duress. The action is started by a Summons and Complaint being served on the owner(s) of the property and all those having a right subsequent or junior to the lien being foreclosed- including tenants or any later judgment lien holder, etc. A title search before the filing is therefore required and a .
If an eligible mortgagor elects to participate in this system the process of obtaining a judgment can be delayed many months. Assuming that none of the mortgage signers or subsequent lienors have any fraud/duress/invalidity defense the case proceeds to defaults. Defaults for Failure to Appear (with military affidavits for individual defendants) are filed and granted, or Demands for Disclosure of Defense (when attorney appears for a defendant) are filed. Subsequently, Motions for Default for Failure to Disclose Defense or Failure to Plead are filed and granted.
Frivolous answers or denials are met with Motions for Summary Judgment with appropriate original documents and affidavits being presented to the court. When all defaults are entered or summary judgment is granted the case is ready to move to judgment. An appraisal is then required and a list of all prior and subsequent debts is submitted with an Affidavit of Debt regarding the obligation foreclosed upon. The court will examine the original loan/judgment lien documents at the hearing and order Foreclosure by Sale or a Strict Foreclosure, depending on the value of the property and amount of debt being foreclosed including the amount of debt ahead of the plaintiff.
Plaintiffs are usually allowed to fax their bids to the Committee. At the time of sale on site the high bidder, if not the plaintiff, must post a deposit with the Committee (1. Committee after the sale is approved by the court.
The Committee promptly delivers the deposit to the clerk of court and submits a report of his/her activities to the court along with a deed and a request for approval of the sale and of his fees and expenses, which is usually granted. Committee fees and expenses can range from $2,5. The plaintiff must pay these approved fees and expenses.
The successful bidder must deliver the balance of the sales price to the Committee about a month after court approval in return for a Committee Deed. Such a sale is subject to outstanding taxes and prior liens. Failure to come up with the balance of the sales price may result in forfeiture of the deposit. Any excess on hand is then available for subsequent lienors, or to the owner to apply for payment by way of Motions for Further Supplemental Judgment.
If the plaintiff is the high bidder, (usually after bidding its debt) upon court approval of the sale (and waiting out the twenty- one (2. The owner of the equity of redemption may redeem the property up until a short time before the sale by paying the plaintiff its debt, fees and costs. If a bonifide buyer is obtained and a valid contract of sale entered into, the court often opens the judgment and postpones the sale upon proper motion. Any filings of Bankruptcy along the way delay the sale and change the process to some degree, with steps required to obtain relief from the Bankruptcy stay (in a Chapter 7 proceeding), etc. Sale dates are often cancelled and rescheduled for this reason. Any successful bidder or plaintiff takes the property upon passing of the title subject to those liens ahead of its debt, such as property taxes or water/sewer liens or prior mortgages for example.
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If the debt is higher than the value of the property then a judgment of Strict Foreclosure will be entered by the court and Law Days set- usually four to six weeks after the entry of the judgment. All defendants (in the inverse order of their priority) have a right to redeem the property by their law date assigned by paying the plaintiffs debt fees and costs, etc. When all assigned law dates pass the plaintiff obtains title by filing a Certificate of Foreclosure in the land records and may proceed to seek a deficiency judgment upon appropriate motion (unless precluded by Bankruptcy). Most foreclosures follow similar predictable patterns but each action has a life of its own and many proceedings have legal and factual twists and turns that cannot be addressed here. Readers are directed to Connecticut Foreclosures Fifth Edition 2. Richard Caron and Geoffrey Milne for more detail.
Connecticut Judicial Branch Mortgage Foreclosure Mediation Program Evaluation!!! The Connecticut Foreclosure Mediation Program is a free program that helps homeowners and lenders work out a negotiated agreement to a mortgage foreclosure action. By state law, a representative of your lender must participate. Foreclosure Mediation Program. Aba Moot Court Mediation Cedr Solve Mediation Divorce Mediation Mesa Fordham Law School Mediation Clinic Margaret Barry is a professor of law here at Vermont Law School. Find her contact information and biography here.
AN ACT CONCERNING THE FORECLOSURE MEDIATION PROGRAM. AN ACT CONCERNING THE FORECLOSURE MEDIATION PROGRAM. The property must be located in Connecticut. Connecticut's Mandatory Mediation Process Slows The State's Foreclosure Rate — Is That Too Good To Be True? Connecticut’s mandatory foreclosure mediation program. Foreclosure Mediation Programs by State. Connecticut Foreclosure Mediation Program Materials, Attorney and Homeowner FAQs. State of Connecticut Notice Regarding Foreclosure Mediation Program (addressing amended. State Foreclosure Mediation Programs. About half the states have foreclosure mediation programs. Some are state-wide and others are only available in certain cities or counties. Connecticut's Foreclosure Mediation Program.