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IS CONNECTICUT A RECOURSE STATE?
Tuesday, November 29th, 2011 at 2:08pm. 1289 Views, 0 Comments.
YES, CONNECTICUT IS A RECOURSE STATE
An internet search for the answer to this question, will frequently give the COMPLETELY INACCURATEanswer that CT is an anti-deficiency/non-recourse state.
This is a widely spread incorrect fact. If you live in Connecticut and your home forecloses - the lender absolutely has the right to sue you for a deficiency judgement.
In CT, a deficiency judgement may be pursued by the mortgagee in both a strict foreclosure, and foreclosure by sale.
Per Connecticut Mortgage Law:
Sec. 49-14. Deficiency judgment. (a) At any time within thirty days after the time limited for redemption has expired, any party to a mortgage foreclosure may file a motion seeking a deficiency judgment. Such motion shall be placed on…