By Neil Crane of The Law Offices of Neil Crane LLC posted in Mortgage Modification on Tuesday, November 26, 2013.

Waterbury, CT Foreclosure Rates Remain at Record High Numbers

With 250 new foreclosures in the second quarter of 2013 and over 125 homes lost to auctions or foreclosure deeds in the same period, more than half of the foreclosures in Waterbury ended with a lost Waterbury, CT home. Despite promises of government assistance and bank modification, completed foreclosures in Waterbury, CT remain at record high levels. Once a foreclosure action is commenced, mediation success is the only option to prevent another home lost to a Waterbury, CT foreclosure lawsuit.

Foreclosure rates in Waterbury exceeded sales for the second time in more than ten years. The Waterbury sales rate for the second quarter was the lowest in over six years with sales rates dropping from 401 to 214, a decrease of over 45%. Median sales prices dropped from $128,000 to $101,515, for a decrease of over 20%.

With the large increase in homes lost to foreclosure, mediation success has become mandatory for Waterbury, CT homeowners seeking to save their homes from loss to foreclosure. Successful mediation is the only alternative available to homeowners facing foreclosure actions throughout the Waterbury, CT court system. Experienced legal representation is the best path to mediation success. Foreclosure is a lawsuit to repossess your home. You need to obtain specialized counsel and fight back to save your home. Waterbury's mediation process works if you engage experienced mediation attorneys who can make it work for you.

Seek prompt legal solutions for you, your home and your family. At the Law Offices of Neil Crane, we've been saving Waterbury homes since 1983. We are a steady presence in the Waterbury Courts where we have a strong reputation for diligence and success. Our experienced mortgage mediation attorneys know how to save your home from foreclosure. We are available by phone for a free consultation at 203-230-2233 or toll free at 1-888-249-3027. Speak directly with an experienced Waterbury foreclosure defense attorney by calling now. We never use voicemail. Or fill out our online Contact Form for a prompt response to your questions and concerns.