Foreclosure in Connecticut is a far different beast from that found in other jurisdictions
/433 Stanwich Road has finally sold, and above the asking price, at that: $2.425 million, on the bank’s ask of $2,227,500.
I’d say everyone made out here: the former owner, who owed $3,000,000, but never paid a dime on the debt while living there for 13 years after foreclosure proceedings began in 2009; JP Morgan, which picked up the debt for pennies on the dollar after the originating bank Washington Mutual failed; and, of course, the lawyers on each side, who fought this case up to the Appellate Court twice, through a bankruptcy filing, and spent years seeking and avoiding ejectment of the debtor in possession even after “final” judgment entered in 2018.
If you’d like to see what a Connecticut foreclosure suit looks like, compared to the 90-day process in many other states, here’s the docket sheet.