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29 Nov Why Are Connecticut Foreclosures So Weird? – (Pt 1)

Foreclosures in Connecticut are unlike foreclosures in 48 other states. (Connecticut and Vermont share this weirdness.) In most cases, aforeclosure does not result in an auction. Usually, the lender will just come to own your property without an auction. How does that happen? Read on.

Connecticut is a Title Theory state. That means that every time you grant a mortgage on your home, you are actually transferring ownership of the home to the lender. All you retain is the Equity of Redemption. That is the right to regain ownership of the property when you pay off the mortgage.

All foreclosures in Connecticut are judicial.

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