Connecticut Bankruptcy Law Blog

MILFORD, CT THIRD QUARTER 2018 HOMES LOST TO FORECLOSURE UP 300% FROM HOMES LOST TO FORECLOSURE IN 2014

New Milford foreclosures down 12% from 2017

Homes lost to foreclosure in Milford, CT increased by 300% from 2014 with 15 homes lost in the same 90 day period in 2018. In contrast, newly started foreclosures fell by 37% from the same period in 2014 with 38 new foreclosures. Milford homeowners in foreclosure continue to lose savable homes. Get help and stop your foreclosure. Milford. CT homes lost to foreclosure in the 3rd quarter of 2018 are up 25% from the 2nd quarter of 2018.

MIDDLETOWN, CT THIRD QUARTER 2018 LOST HOMES INCREASE SHARPLY WHILE NEW FORECLOSURES ARE STEADY

The number of Middletown, CT homes lost to foreclosure has increased significantly from 6 in 2014 to 21 in 2018 – a 250% increase in just five years. In the third quarter of 2017, Middletown had 92 new foreclosures compared to the lower number of 43 new foreclosures in 2018. Unfortunately, while new foreclosures had been reduced by nearly half, the number of lost homes was increased from 20 in 2017 to 21 in 2018. Savable Middletown homes continue to be lost to foreclosure at an unacceptable rate.

MEDIATION FAILS IN FAIRFIELD, CT HIGHEST LOST HOME RATE IN PAST FIVE YEARS

New foreclosures decreased while past Fairfield homes lost to foreclosure increased dramatically compared to past 3rd quarters.

Foreclosure rates in Fairfield, CT decreased slightly in the third quarter of 2018 when compared to the second quarter of 2018. Unlike most towns with decreasing foreclosure rates, Fairfield has seen unacceptably high rates for the past five years.

EAST HAVEN FORECLOSURE RATES REDUCED WHILE HOUSING VALUES AND SALES CLIMB IN THIRD QUARTER 2018

East Haven, CT Foreclosures Continue to Diminish

Newly commenced foreclosure and the number of homes lost to foreclosure in East Haven, CT decreased for the second quarter in a row. East Haven, CT saw 36 foreclosures started and 21 homes lost during the third quarter of 2018. The 2nd and 3rd quarter new foreclosure rates remained steady with 37 new foreclosures in the 2nd quarter and 36 in the 3rd quarter of 2018.

3rd QUARTER 2018 FORECLOSURE MEDIATION AND MORTGAGE MODIFICATION IN EAST HARTFORD, CT

Homes Lost to Foreclosure 2nd Highest in Five Years

While the number of new East Hartford foreclosures has fallen from 63 in 2014 to 39 in the third quarter of 2018 – a 57% decrease – 53 East Hartford homeowners lost their homes during the 90 day period. With 53 homes lost in 90 days, the number of lost homes is at its second highest level in five years. More than 10 years after the foreclosure mediation was implemented, lost homes in East Hartford are still far too high.

BRISTOL FORECLOSURES CONTINUE TO RISE IN 3RD QUARTER OF 2018

Newly started foreclosures rose from 47 in the third quarter of 2016, 48 in the third quarter of 2017, to 64 in the third quarter of 2018- an increase of over 33%. With 47 new foreclosures, the Bristol, CT foreclosure rate is the highest in 3 years. With one Bristol home lost to foreclosure every two days, Bristol homeowners need experienced legal representation. In fact, median home values are down 1.7% over the past 5 years.

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