How to Purchase a Foreclosure

In Connecticut, there are two kinds of foreclosures: a strict foreclosure and a foreclosure by sale. A strict foreclosure involves a creditor regaining control of a home with no equity. The original homeowner has up to five months to pay their outstanding debt before the lender obtains control of the Greenwich foreclosure.

Tagged as: creditor-regaining, debt-before, Greenwich, lender, much-greater, original-homeowner, outstanding, pay-their, situation, strict-foreclosure, the-lender, the-property, the-value