CONNECTICUT FORECLOSURE DEFENSE- FREQUENTLY ASKED QUESTIONS
Q: How will I know when a foreclosure has started?
A: Unlike many states, Connecticut requires foreclosures go through the courts; therefore you must be served with a summons and complaint to start the action. NOTE: it is not necessary to be served "in hand." Leaving papers at your residence is sufficient. Too often, people ignore such service to their detriment. A mortgage lender will generally first send a letter a month before starting the foreclosure.
Q: Can I be allowed to pay the arrearage on my mortgage after a foreclosure has started?
A: The answer is almost always YES. Nearly all mortgages on a principal residence give the homeowner the right to stop a foreclosure by paying past due monthly payments plus foreclosure expenses before a judgment enters. There are also methods to negotiate gradual repayment plans and place the foreclosure on hold (typically referred to as "forbearance plans").
Q: How long does a foreclosure take?
A: The answer depends mainly on what actions the homeowner takes to oppose the foreclosure. The process can be as short as 2-3 months or in excess of a year. If you want to save your home, ACT QUICKLY. Your rights and options could be limited if you procrastinate.
Q: If a foreclosure judgment enters, will there be a public auction?
A: Not necessarily. Connecticut has two types of foreclosures: a foreclosure by sale, in which there IS an auction, and a strict foreclosure, in which there IS NOT an auction. The extent of equity in the property is the primary factor in determining which type of judgment will enter. NOTE: A strict foreclosure is typically much quicker process than a foreclosure by sale.
Q: What is a "short sale."
A: When the total debt exceeds the value of the property, you have to pay the excess in order to sell. Sometimes, a secured creditor will accept less than what they are owed to allow the sale to occur. This is commonly referred to as a "short sale." Care must be taken, however, as to how the excess amount of the debt is handled.
Q: What remedies do I have against a condominium foreclosure or mechanics lien foreclosure?
A: These types of foreclosures are often hotly contested. In a mechanic's lien foreclosure, you may can challenge whether the work was properly performed and the propriety of the amount. Mechanic's liens are also subject to some technical rules that, if properly raised, can defeat the claim. In a condominium foreclosure, you have the right to argue, for example, that the condominium association did not perform its obligations.
Q: Can I be foreclosed upon for delinquent taxes?
A: Yes. For several reasons, tax foreclosures often proceed differently than other types of foreclosures. Also, real estate taxes may be collected pursuant to a" tax warrant" procedure that does not involve the courts. Just like any other foreclosure, however, you should take prompt action to protect your rights.
Q: What is a foreclosure of a judgment lien?
A: If someone obtains a money judgment against you, he/she can file a judgment lien at the town clerk's office and, under certain circumstances, bring a lawsuit to foreclose. Due to state homestead exemptions these foreclosures are not frequent, but CAN be brought: and you generally CANNOT challenge the underlying debt
When faced with a foreclosure, you may have more options than you realize. PROTECT YOUR RIGHTS! CONTACT THE LAW OFFICES OF MICHEAL J. AUGER TO DISCUSS FORECLOSURE DEFENSE AND FORECLOSURE ASSISTANCE.
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From our law office in Farmington, we are ready to answer all your questions regarding your slip and fall injury. We offer weekend and evening hours by appointment, in addition to traveling to meet with clients throughout Connecticut. Contact us today for a free initial consultation.
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Law Offices of Michael J. Auger
76 Batterson Park Road
Farmington, CT 06032
Phone: 860-676-8118
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