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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.
In a strict foreclosure, the court sets the redemption period, which is the time between the judgment and the Law Day. The Law Day can be as soon as 21 days after the court enters a judgment of strict foreclosure, but its typically between 45 and 90 days after the judgment.
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.
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.
Connecticut does not have a specific statute of limitations with regard to the commencement of a foreclosure action. However, Connecticut has a unique statute which may help debtors who have very old unpaid mortgages.
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