April 2019

NEW FORECLOSURES IN TRUMBULL FALL WHILE HOMES LOST TO FORECLOSURE REACH 2ND HIGHEST RATE IN FIVE YEARS

Second quarter 2018 new Trumbull, CT foreclosures are down by more than 27% from second quarter 2016. While the number of new foreclosures has fallen by almost 20% since the 2nd quarter at 2017, the number of homes lost has stayed steady with 13 homes lost in the same 90 day period. Despite 10 years of available foreclosure mediation in Connecticut, Trumbull homeowners are losing more than twice the amount of homes lost in 2014.

TORRINGTON, CT FORECLOSURE MEDIATION FAILS HOMEOWNERS

New Foreclosures Down While Homes Lost Hit Record High

With 23 new foreclosures and 46 lost Torrington homes in the second quarter of 2018, Torrington continues to lose savable homes at an unacceptable rate. In the 2nd quarter of 2018, Torrington homeowners lost twice as many homes than the amount of new foreclosures – with 46 homes lost during the 90 day period, more than one Torrington home was lost every two days.

SHELTON NEW FORECLOSURES HIGH AND STEADY FOR PAST THREE YEARS

Shelton Home Loss Even With 2014

Foreclosure rates in Shelton, CT remained at the past two years’ high levels for the second quarter of 2018 with 29 new foreclosures in the same 90 day period of 2016, 2017, 2018. Shelton continues to be plagued by excessively high foreclosure rates that remain unimproved by the state foreclosure mediation program.

NEW HAVEN, CT LOST HOMES RISES IN THE 4th QUARTER OF 2018 NEW HAVEN HOMEOWNERS IN FORECLOSURE LOST 18% MORE HOMES THAN 2015

New foreclosures in New Haven, CT have fallen from 185 in 2015 to 116 in 2018- a 37% decrease. Of higher importance was the increase in homes lost to foreclosure, 77 homes were lost in only 90 days- more than two New Haven homes lost every 3 days. The increase in homes lost while new foreclosures fall is a sign that the New Haven foreclosure mediation system is failing New Haven homeowners. Despite more than 10 years of available foreclosure mediation, the number of homes lost to foreclosure remains incredibly high.