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Foreclosure Survival Guide
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Foreclosure Survival Guide (1st Edition)
| Topic | State Rule |
|---|---|
| Common type of foreclosure process | Judicial: optional strict foreclosure—court can transfer title directly to foreclosing party without ordering a sale. |
| Time to respond | After the foreclosing party files the foreclosure lawsuit, homeowner has 20 to 30 days to respond. |
| Reinstatement of loan before sale | No |
| Redemption after sale | If court orders sale, may also set redemption period |
| Special protections for foreclosures involving high-cost mortgages | No laws regarding high-cost mortgages. But certain homeowners who are underemployed or unemployed can ask the court for protection from foreclosure and modification of mortgage terms to give relief from paying of arrearages. |
| Special state protections for service members | Conn. Gen. Stat. § 36a-737 |
| Deficiency judgments | May be obtained within 30 days after the redemption period expires. |
| Cash exempted in bankruptcy | About $11,000 for one person, $22,000 for a married couple under federal bankruptcy exemptions |
| Notice to leave after house is sold | None. Judge can order immediate physical removal of former owners. |
| Foreclosure statutes | Conn. Gen. Stat. §§ 49-1 to 49-31 |