Colli Real Estate

Foreclosure in Connecticut?

I can’t find any straight answers on this… Is CT a recourse or non-recourse state? I’ve found sites that say both. I owe $200,000 on a house that is worth just over $100,000. I can’t make my payments and am considering just not sending them in anymore. If they foreclose on my house, will they be able to come after me for what I owe?

Put your house on the market and try to sell it as a short sale. When you put it on the market for what is a fair market value and get an offer make sure to have your agent put in the contract that the bank will accept the offer with no recourse. If you can afford the payment in the time being this is the best way to go . If you just want to not lose any money from the market loss then you should really stay in the house cause if you could afford it a couple years ago and still have the job then you should pay the mortgage and wait for the price of your place to rise.

Colorado Springs Real Estate HUD Foreclosure 5543 Denmark Ct 80918

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