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Most people in Connecticut will experience a financial emergency at least once in their lives. Whether a financial crisis leads to foreclosure can depend on a variety of factors, including a person's other debts, income and even savings. Some researchers say that the type of neighborhood a person lives in could also affect one's risk of losing a home to foreclosure.
Can your neighborhood type predict your foreclosure risk?
What happens during a foreclosure?
Buying a home is a momentous achievement for which many people in Connecticut strive. Upon reaching the level of home ownership, few people ever expect to leave their homes. Unfortunately, financial troubles can complicate even the best-laid plans. Foreclosure is a legal tool that mortgage holders can use to kick out property owners who are behind on their payments, and to subsequently sell the property to recover financial losses.
Facing foreclosure: Assistance and guidance is available
Purchasing a home is a goal of many Connecticut residents, and one that often takes years of planning and sacrifice to achieve. Faced with losing a home through foreclosure, many people go through a great deal of stress. It's important to understand that there is help available. Choosing the right path out of financial turmoil is important and can make all the difference between success and failure.
Distressed homeowners should be wary of foreclosure scams
Purchasing a home is an achievement that many Connecticut residents cherish. For some, a home purchase is the culmination of years of planning, and the end result is a property where children are raised, milestones are reached and memories are built. When financial troubles arise, the risk of losing their home to foreclosure can lead people to do many things that they might otherwise avoid. That can leave them at risk of scams, of which there are many.
Company penalized for consumer foreclosure actions
When an individual or a family is faced with serious financial problems, few things are more stressful than the risk of losing their home. In many cases, home ownership was a long-held goal, and achieving that goal was a significant source of pride, and a realization of the American Dream for Connecticut residents. When it appears that foreclosure is imminent, many people will go to great lengths to avoid that outcome. Unfortunately, that leaves them vulnerable to a number of questionable business actions in addition to downright scams.
