Connecticut Bankruptcy Law Blog

NEW BRITAIN FORECLOSURE RATES INCREASE FROM 2ND TO 3RD QUARTER IN 2017

Third Quarter New Britain Foreclosure Rates up 22% from 2017 Numbers

The third quarter of 2017 saw another increase in foreclosure rates as 54 New Britain homes went into foreclosure in the 90 day period from July to September 2017 – an increase over the 2nd quarter of 2017 and up 22% from the similar third quarter period in 2016.

NEW BRITAIN NEW FORECLOSURE RATES DECREASE IN 2ND QUARTER 2017

First and Second Quarter 2017 Foreclosure Rates Reported Lower

The second quarter of 2017 foreclosure rates in New Britain saw a decrease over the same 90 day period in 2016 with 50 new foreclosures in the second quarter of 2017. Unfortunately, 43 New Britain homes were lost to strict and sale foreclosures in the same 90 day period - nearly one lost family home every other day in the second quarter of 2017.

THIRD QUARTER 2017 NAUGATUCK FORECLOSURES DECREASE FROM 2016

2017 Third Quarter Lost Homes Rates Decrease from 2016

Naugatuck homeowners who have been struggling with record high foreclosure rates saw a noticeable clear case in the third quarter of 2017, down nearly 50% to 21 in the 3rd quarter 90 days of 2017 from 40 in 2016. Homes lost to foreclosure by sale and strict foreclosure also decreased with 15 lost homes in the past 2017 third quarter.

NAUGATUCK, CT FORECLOSURE MEDIATION 2ND QUARTER 2017

2017 Naugatuck Foreclosure Rates Continue Constant with 2016 Rates

The second quarter of 2017 saw a slight 6.5% adjustment from the rates for the same period in 2016 with 30 new foreclosures commenced in Naugatuck in the 90 day period from May-June 2017. Homes lost in foreclosure continued to remain at unacceptable levels as 21 Naugatuck homes were lost in the same 90 day second quarter of 2017.

THIRD QUARTER 2017 MIDDLETOWN FORECLOSURE RATES HIGHEST IN FIVE YEARS

Following an increase in Middletown foreclosure rates for the 2nd quarter of 2017, third quarter rates increased again up over 200% from the third quarter of 2016 with over 90 new foreclosures in April-June 2017. The recent 92 new Middletown foreclosures represent the highest third quarter rate in the past 5 years up 48% from rates in the third quarter of 2013.

MIDDLETOWN, CT FORECLOSURE RATES – SECOND QUARTER 2017

Second Quarter 2017 Middletown Foreclosures Highest in Four Years

Middletown residents faced the highest second quarter foreclosure rates in over four years with 68 new foreclosures in the 90 day period from April-June 2017. This second quarter increase followed a decrease between the first quarter of 2017 and the first quarter of 2016. While the second quarter real estate sales increased over 2016, the average price of a Middletown home was down 5% from last year and over 10% from the average price five years ago.

THIRD QUARTER 2017 MANCHESTER FORECLOSURE RATES AND MEDIATION

Making the Foreclosure Mediation System Work For You

Third Quarter Manchester foreclosures reached a five-year low in 2017. These lower foreclosure rates are a welcome reduction from the 3rd quarter of 2016 with 49 new foreclosures in 2016 and 40 new foreclosures in the same period for 2017. Homes lost in the foreclosure by sale process increased over 70% from last year and 50% from the same period 5 years ago, despite the option of foreclosure mediation.

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