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HOW LONG DOES A FORECLOSURE TAKE FROM START TO FINISH? On average, three to six months. 7. CONNECTICUT USES BOTH STRICT FORECLOSURE AND FORECLOSURE BY SALE.
One way to attack a foreclosure is to argue that the foreclosing party does not have standing to foreclose. If the foreclosing party cannot produce the promissory note on which the loan is based, the court likely will dismiss the case.
Reinstating a loan (bringing it current by paying all past-due amounts) stops a foreclosure because the borrower catches up on the defaulted payments. Some states have a law permitting a delinquent borrower to reinstate the loan by a specific deadline.
Foreclosure Prevention/Loan Modification Assistance Homeowners can also call the Foreclosure Assistance Hotline at (877) 472-8313. The Obama Administrations Making Home Affordable Program includes opportunities to modify or refinance your mortgage to make your monthly payments more affordable.
In foreclosure mediation, the homeowner and foreclosing lender (or servicer) meet with an impartial facilitator (the mediator) to discuss the borrowers financial situation and explore options to avoid a foreclosure, such as a modification, short sale, deed in lieu of foreclosure, repayment plan, or something else.
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Notice of Default: The federal law generally allows a 120-day grace period after missing the first mortgage payment before the lender can file for foreclosure. Under Connecticut law, the lender must send a written notice to the homeowner at least 30 days before filing a foreclosure complaint.
Foreclosure Mediation Program. The Foreclosure Mediation Program was established pursuant to P.A. 08-176 and its purpose is to assist homeowners and lenders achieve a mutually agreeable resolution to a mortgage foreclosure action through the mediation process.
Foreclosure Prevention/Loan Modification Assistance Homeowners should visit the Department of Bankings website, which has valuable information on avoiding scams, applying for loan modifications, and navigating the foreclosure process. Homeowners can also call the Foreclosure Assistance Hotline at (877) 472-8313.

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