Category Archives for "Foreclosure"
All about the Connecticut foreclosure. Learn about the process and alternatives to foreclosure.
March 7, 2022
Foreclosures start to creep back into the Connecticut real estate market…
In March 2020 as part of the CARES ACT a moratorium on foreclosures on all federally backed loans in the USA due to the covid-19 pandemic. The moratorium was subsequently extended multiple times until its final expiration 17 months later in July 2021. August 2021 marked the return of most foreclosures. the CT foreclosure market […]
Continue reading
October 8, 2021
Connecticut home sale prices continue to fall and short sales and foreclosures return to market!
Its been a great year for Connecticut sellers, but are things about to take a nosedive? While 2021 overall has seen record sale prices and marketing times, a look at the last few months tells a different story!THE GOOD NEWS: The average sale price of a CT home in 2021 is currently $306,000 – an […]
Continue reading
February 2, 2021
CT distress shadow inventory looms behind a raging sellers market…
Connecticut sellers can celebrate another year of drastic price increases and a strong sellers market! Despite the massive economic losses caused by the governors coronavirus lockdowns, the Connecticut housing market continues to boom! But…for how long?2021 sets off with a new record median sales price of $287,000! Home sale prices jumped 15% year over year […]
Continue reading
January 11, 2021
- in Foreclosure by Minna Reid
- |
- 2 comments
When do forbearances end and foreclosures resume?
When do the CARES Act protections end?The CARES Act (Coronavirus Aid, Relief, and Economic Security Act) was enacted in March 2020 and contains provisions to help borrowers with federally backed mortgage loans get through pandemic related financial challenges. But 9 months and many extensions later, the various federal agencies are taking a piecemeal approach to […]
Continue reading
August 25, 2020
- in Foreclosure , Short Sales by Minna Reid
Mortgage forbearance ending? Know your options!
Mortgage Forbearances are coming to an end. Millions of home owners opted to take a few months off their mortgage during the shutdowns, but now it’s time to pay up!YOUR OPTIONS FOR GETTING BACK ON TRACK WITH YOUR MORTGAGE! Pay the back due amount and resume normal payments.If you have the funds and wish to […]
Continue reading
April 13, 2020
- in Foreclosure by Minna Reid
What to do when you can’t make your mortgage payment.
Facing a mortgage default can be daunting, but you have options! Find out what they are and make an informed decision! Your options for when you can’t pay the mortgage! Pay LaterSimply missing a payment is an option. By federal law your lender can’t take any action towards foreclosure until you are 120 days behind. […]
Continue reading
January 21, 2020
- in Foreclosure , Short Sales by Minna Reid
- |
- 1 comments
I am behind on my mortgage payments. Should I modify my loan?
If you’ve fallen behind on your mortgage payments, your lender may be offering you the chance apply for a loan modification. In a loan modification the lender makes permanent changes to the terms of your mortgage resulting in a more affordable payment. Keep in mind that while a mortgage modification will reduce your payment, it […]
Continue reading
May 21, 2019
- in Foreclosure , Short Sales by Minna Reid
JUST 4 WEEKS FROM FACING FORECLOSURE TO SHORT SALE SUCCESS!
After years of failed efforts to keep her home, and with less than 2 weeks away from her foreclosure law day, this Branford, CT homeowner reached out to me for a last minute attempt to avoid the foreclosure with a short sale.Short sales generally take 4-5 months or even longer at times so the clock […]
Continue reading
May 8, 2019
Hamden, CT foreclosures and short sales JUMP in 2019!
Hamden, CT Distress Market Report 2019Despite several years of gains in the marketplace, Hamden year to date home sales show a massive increase in the rates of foreclosed homes and short sales. After dropping down to an 8 year low of 14% of all homes sold, The current rate of distress sales is currently at […]
Continue reading
February 4, 2019
- in Foreclosure by Minna Reid
I am in foreclosure! How long do I have to sell my home?
Facing foreclosure can be a very stressful time, but the good news is, here in Connecticut, time is on your side! The Connecticut foreclosure process can take months or in some cases – years. As a homeowner, you have many options to avoid foreclosure. If you’ve run into financial trouble, the earlier you take action – the […]
Continue reading