In 2014, Connecticut law was changed to permit a “foreclosure by market sale.” 

Several things to note, the law only applies to

1.         A first mortgage

2.       The mortgage must be on a residential real property for a loan made primarily for personal, family, or household purposes (not made primarily as a commercial loan).

3.       The motion to the court must be made by the mortgagee, who is the owner or the servicer of the loan

4.       The motion is made with the consent of the mortgagor, who is the owner occupant of the property – who must be the owner of the residence located in this state

5.         First mortgage loans in which the amount due, plus liens which are prior in right to the first mortgage (such as real estate taxes) must be greater than the appraised value of the property. 


     Not surprisingly, I have never seen this statute used.   In many cases the law will not apply because the value of property is less than the amount of the first mortgage and real estate tax liens. 

In addition, the mortgagor and mortgagee need to agree to the foreclosure by market sale.    Many borrowers do not want to agree to a sale of their home, through the foreclosure process.    Borrowers have the right to sell their home during the foreclosure process, without the need to get approval by the court.  

If you are having problem paying your mortgage, please feel free to contact Attorney Singer at 203-248-8278, or

Attorney Robert M. Singer

Law Offices of Robert M. Singer, LLC

2572 Whitney Avenue

Hamden, CT  06518


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