279,878
6,418,799
4,319,773
630,251
4,800,132
5,312
Connecticut is the only state in the Nation that has this. It has not yet been tested here. This is what I get from it. The homeowner receives notice from their lender when the homeowner is in default. There is a sixty day window to accept this new Forcclosure by market sale. If the homeowner elects it, a judge at the superior court level oversees the file, the lender orders an appraisal. In the meantime a realtor can list it. If the lender refuses to accept the FBMS, they can not be a part of the mediation once the file goes to foreclosure. It was intended to assist in getting a house sold at FMV and the judge, lender and realtor are supposed to work together. I do not see this happening yet. If the homeowner elects to go this route and the bank agrees, the homeowner waives their right to mediation in the foreclosure process. I was reaching out to Connecticut realtors and attorneys to find out how it works. It is vague.
3,416,038
I am not sure what that is, how does CT law read or what does it allow the owner to do?
956,372
A homeowner can voluntarily elect to foreclosure as opposed to a sort sale!? Would not advise any homeowner to do that if I'm understanding this correctly.
2,443,250
How can a home owner do a foreclosure? Only the bank can do that and if it is sold on the market sometimes it is called a short sale. Then it is up to the bank whether or not they want to settle for the offer price.