Realistic timeframe to FC in CT?

[Alex Stepanov]

Hello everyone!

My question to those of you working in Connecticut: as of now, what is the realistic average timeframe to foreclose in CT (start to finish)? Assuming no stalling and no unusual circumstances, just to go through all required motions, filings, court backlogs etc. etc.

You help is much appreciated!

Cheers
Alex

[Edward Schenkel]

Originally posted by @Alex Stepanov:

Hello everyone!

My question to those of you working in Connecticut: as of now, what is the realistic average timeframe to foreclose in CT (start to finish)? Assuming no stalling and no unusual circumstances, just to go through all required motions, filings, court backlogs etc. etc.

You help is much appreciated!

Cheers
Alex

 Alex, I have extensive experience in foreclosure law (both bank work and defense) in Connecticut and have seen it all. I can give you the honest answer with no bs when I say it depends on a number of things. If the defendant does not fight it and you get a default judgment, it could take just a few months. You will get the judgment and then either get a law date or a sale date. The sale date is an auction date essentially and the law date is the last day for the borrower to pay off the loan if there is no equity. Message me privately if you have questions about sale v. strict foreclosure. 

To get back on topic, there are many things that can delay a foreclosure. First, a borrower has the option to enter into foreclosure mediation. If the borrower does this, it will typically add a couple months. 

Next, a clever borrower or his attorney can file various motions to delay for months. Moreover, a clever attorney can come up with defenses and force discovery which can cause months more of delay. Once you finally get the judgment, a borrower can also take an appeal or file bankruptcy which can delay it more. You can move the court to continue the foreclosure during appeal or bkcy but it is tricky. 

In short, it can take weeks or years depending on what the borrower decides to do. I think the best strategy is to have an open conversation with borrower about the foreclosure and try to get them to agree to a judgment date if you give them X amount of months in the house. Foreclosure law in Connecticut is tricky and complicated. If you have a case in CT and have more specific questions, please feel free to message me here or privately.

Regards,

Ed Schenkel, Esq