How to Buy Connecticut Foreclosures

Connecticut follows two kinds of judicial foreclosure for mortgages; foreclosure by sale and strict foreclosure.

It can take more than two months for a property to sell at a public foreclosure sale after the owner is given the notice of default, during which period it can be bought through the owner.

With a foreclosure property usually selling for lesser in preforeclosure than after becoming Real Estate Owned (if it does not sell at the auction), it is best to be bought during preforeclosure.

Connecticut also follows a system where a lender is provided with a deficiency judgment in the case of the property ends up selling for lesser than the primary mortgage amount at the public auction of foreclosure sale.