Foreclosures in Connecticut

Connecticut is one of the New England states. It lies just east of the New York metropolitan area and many residents of the southwestern corner of the state commute daily to jobs in Manhattan. To the east, the Connecticut River flows southward through a beautiful valley and empties into Long Island Sound.
If home prices seem out of reach, one option for a less expensive purchase is looking into foreclosures in Connecticut. These homes become the property of the lender when homeowners default on their mortgages. The lenders, usually banks, don’t want the responsibility of caring for unoccupied houses and offer them at lower prices, so repossessed homes are a good source of affordable housing.

Connecticut has not been hit as hard as some states by the housing crisis of the past few years, ranking 26th in the nation in December, 2011, in the number of new foreclosures. As of the end of February, 2012, RealtyStore.com listed 13,221 foreclosures in Connecticut. Most of these occurred in New Haven County. A search by city showed that Waterbury, Bridgeport, Hartford, and New Haven have the largest numbers of Connecticut foreclosure listings. Prospective property buyers looking for cheap homes in Connecticut might find what they need in a real-estate owned (REO) property.

This state’s history stretches back to the colonial era and many of its homes reflect this heritage in their architecture and décor. Yet up-to-date pursuits abound from sailing in Long Island Sound to artists’ colonies to winter sports at Mohawk Mountain or Mount Southington. No one will want to miss any of the stops on the Connecticut Chocolate Trail.

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