2016 Milford rates stayed constant with 2015 rates with 155 new Milford foreclosures in 2016. Unfortunately, homes lost to foreclosure by strict and sale skyrocketed to record high numbers with 79 homes lost to foreclosure in 2016. Strict foreclosures rose 30% from 2015 numbers and foreclosures by sale were up over 400% higher than the past 4 years combined. Milford homeowners are losing savable homes in record numbers. This is an unacceptable situation for Milford homeowners seeking to save their homes from loss to foreclosure.
Connecticut Bankruptcy Law Blog
The number of homes lost to foreclosure in Middletown, CT reached to an all-time high with 98 homes in 2016. Strict foreclosure home loss increased 100% between 2015 and 2016 with 32 homes lost to strict foreclosure in 2016 compared to 16 in all of 2015. Middletown homeowners in foreclosure are losing savable homes.
2016 foreclosures in Meriden increased over 30% from the lower rates of 2015 with 374 new foreclosures as compared with 287 foreclosures in the calendar year of 2015. Homes lost in the foreclosure process remained unacceptably high in 2016 with foreclosures by sale equal to high rates 5 years ago and strict foreclosure up to 46.3% from 5 years ago with 215 strict foreclosures in 2016. Meriden homeowners continue to lose savable homes in 2016.
The foreclosure rates in Manchester, CT showed an alarming increase in all categories as foreclosures rose 23.3% up from 164 in 2016 to 202 in 2016. Homes not saved – those lost in the foreclosure process rose dramatically with 44 foreclosure auctions in 2016 up from 30 in 2015 for a net 46.7% increase. Manchester homeowners are losing savable homes in record numbers. Homes lost to strict foreclosure rose 137% with 109 homes lost to strict foreclosure, up from 46 in all of 2015.
Hartford foreclosure rates increased nearly 20% over rates for 2015 with 424 new foreclosures in 2016. Hartford homeowners lost more savable homes to foreclosure in 2016. With an increase in foreclosures over 2015, Hartford residents need new answers and solutions well beyond foreclosure mediation. Insufficient laws and insufficient resources continue to plague the overburdened underperforming Hartford foreclosure mediation system with 294 lost homes in Hartford in 2016:
Despite a decrease in 2015 foreclosure rates, 2016 saw an increase in Fairfield, CT foreclosures with 121 new foreclosures, up 18% from the already high rates of 2015. Strict foreclosure increased in 2016, from 33 in 2015 to 42 in 2016 – an increase of just over 27%. Fairfield homeowners are continuing to lose savable homes. While foreclosure mediation with proper legal representation can vastly increase the chances for mediation success, unrepresented homeowners continue to lose savable homes in the failing Fairfield foreclosure mediation system:
New foreclosures in East Haven, Connecticut remained essentially constant with 208 new foreclosures in 2016 compared to 212 foreclosures in 2015. More importantly, the number of homes lost in foreclosure increased as strict foreclosures rose 13.7% and foreclosures by sale rose by 15.3%. Savable East Haven homes are still being lost to foreclosure.
New foreclosures in East Hartford, CT for 2016 increased over 53% from new foreclosures in 2015, with 279 new foreclosures in 2016 as compared to 182 in calendar year 2015. East Hartford homes are savable. Contrary to a somewhat better trend found elsewhere in the state of East Hartford, homeowners continue to lose at foreclosure mediation without the help of experienced legal counsel dedicated to finding proven options that work for East Hartford residents.
Foreclosure rates in Danbury, CT remained unacceptably high and steady for the first 90 days in 2017. With 70 homes entering foreclosure in just the first 90 days, Danbury has failed to see the decreased foreclosure rates experienced in some of Connecticut’s other towns and cities. Of even greater concern was the number of homes lost to foreclosure as compared with the same first quarter results for 2016. Total homes lost to strict foreclosure and foreclosure auctions more than doubled from 24 in 2016 to 53 in the first quarter of 2017.
The Danbury foreclosure courts again reported high foreclosure rates in the first quarter of 2017. Foreclosure Volume remained near the highs of 2016 and nearly twice the rate reported in the first quarter of 2015 with 70 new foreclosures in the City of Danbury in the first 90 days of 2017. Danbury homes in foreclosure are still savable. Foreclosure by sale was at its highest levels in the past 5 years, with a record 31 home auctions in Danbury in the first 90 days of 2017 up 400+% from last year’s numbers.