Foreclosure Filings Drop in Connecticut

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Real Estate Agent with RE/MAX Professionals, CT 203-206-0754 REB.0759001
http://actvra.in/CyD

Foreclosure Filings Drop in Connecticut

The trend for foreclosure filings in Connecticut is down and it has been falling for over a year. The number of Foreclosures was down 10 per cent from April and down 16 per cent from April of 2011.

This placed Connecticut 36 nationally for foreclosure filings, which include default notices, auction sale notices and bank repossessions.

Nationally, the rate of foreclosures was up 9 per cent over the April rates, but down 4 per cent for the same period last year. According to Realty-Trac, foreclosure filings have decreased on a year over year basis for 20 straight months.

Banks have softened their positions on foreclosures, and have been more favorable to working with home owners to complete short sales. This has kept families in their homes longer; has preserved values in the homes as they do not sit vacant; and with the HAFA program, have worked with underwater and distressed home owners including providing stipends at closings to assist them with their next moves.

Keeping neighborhoods and home values stable is a positive. Helping people resolve their home ownership issues with short sales has been most productive and the banks have put together resources to make it easier than it used to be.

If you, or someone you know are in danger of losing their home the loss mitigation department of your lender and discuss your options. If you are looking for a short sale specialist in Central Connecticut to help you with the sale of your home and get the bank to accept the short sale then you need to call me soon.

Helping families avoid foreclosure in Central Connecticut is what I do.  

Foreclosure Filings Drop in Connecticut

 

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Do you know somebody who is behind on their mortgage and doesn't know what to do? I may be able to help them, especially if they are facing foreclosure!

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Whether looking to buy or sell, we service the Greater Waterbury towns of Beacon Falls, Bethany, Cheshire, Naugatuck, Middlebury, Southington, Thomaston, Waterbury, Watertown and Wolcott 

Ed Silva  RE/MAX Professionals,  www.edwardsilva.com  203-206-0754

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connecticut foreclosures
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Ambassador
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George Souto
Your Connecticut Mortgage Expert
George Souto NMLS #65149 FHA, CHFA, VA Mortgages Connecticut

Ed it is good to here the foreclosures have been down this year, but I keep on hearing about reports that say that the major banks are getting ready to release a boat load of foreclosures that they have been hanging on to.  I hope all those reports are wrong.

June 15, 2012 04:33 PM
Rainmaker
1,141,597
John Pusa
Your All Time Realtor With Exceptional Service
Sellstate Pacific Realty

Ed - This is very good news. Thanks for detailed information about foreclosure filings drop in Connecticut.

 

June 15, 2012 05:02 PM
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Ed Silva
Central CT Real Estate Broker Serving all equally
RE/MAX Professionals, CT 203-206-0754

George, I do know that REO listings in our area are down so the banks haven't blown the top off their holdings as yet. I am listing a short sale that has been vacant so that bank could have pulled the plug a long time ago.

John with the banks being more tolerant and sensitive of the distressed home owners our reccovery can get a toehold., Thanks for stopping

June 15, 2012 06:07 PM
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Debbie Laity
Your Real Estate Resource for Delta County, CO
Cedaredge Land Company

We are still seeing a lot of foreclosures in my area. I hope we drop off soon. Good for you guys. Let's hope your trend continues.

June 15, 2012 06:46 PM
Rainmaker
706,271
Juli Vosmik
Scottsdale/Cave Creek, AZ real estate 480-710-0739
Dominion Real Estate Partners, LLC, Scottsdale, AZ

Ed, that's great news for the central Connecticut real estate market.  It looks like a positive trend. It seems to be heading east - great news!!  It will be surprising how quickly your central Connecticut real estate market will start to recover - it will be like a switch was literally turned on.  That's how quickly our market turned.  Here's hoping it's the same in the Connecticut real estate market. 

June 15, 2012 08:59 PM
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John McCormack
AlbuquerqueHomes.com
Albuquerque Homes Realty * www.AlbuquerqueHomes.com

Good morning Ed -

Excellent news in the fact that Foreclosure Filings Drop in Connecticut!  I'm always happy to hear good news.  Our area is too is seeing fewer Foreclosures and thankful for it!  I see light at the end of the tunnel now to hold our breath and pray good days are here to stay! 

Enjoy a great weekend my friend.

June 16, 2012 06:06 AM
Rainmaker
980,819
Nick T Pappas
Madison & Huntsville Alabama Real Estate Resource
Assoc. Broker/Broker ABR, SFR, e-Pro, @Homes Realty Group, Huntsville AL

Ed, overall that's great news to here.  I'll need to run the latest stats for my area, but in general I've noticed the same trend.

June 16, 2012 04:40 PM
Rainmaker
1,051,776
Ginny Gorman
Homes for Sale in North Kingstown RI and beyond
Phillips Post Road Realty ~ 401-529-7849~ RI Waterfront Real Estate

Ed, interesting stats but I was on a webinar last month that had all the new england states with huge backlogs on foreclosures and MA & CT were the 2 largest states...so that remains to be seen what comes at you...again it is localized for the most part.  I do hope this improves for your area soon!

June 17, 2012 04:46 AM
Rainmaker
1,226,725
Al & Peggy Cunningham Brokers, Brampton Ontario Homes For Sale 905-450-5500
RE/MAX Realty Services Inc.
This is really good news Ed. Let's hope the 'drop' keeps 'up'! Happy Fathers Day!
June 17, 2012 04:26 PM
Rainmaker
980,819
Nick T Pappas
Madison & Huntsville Alabama Real Estate Resource
Assoc. Broker/Broker ABR, SFR, e-Pro, @Homes Realty Group, Huntsville AL
Hey Ed, just back to wish you a HAPPY FATHER'S DAY...hope you managed to get in a quick 18...what am I thinking...of course you did!
June 17, 2012 05:33 PM
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Ed Silva

Central CT Real Estate Broker Serving all equally
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