Foreclosure Filings Down for FY 2011

According to statistics from the Judicial Branch, the number of foreclosures filed in FY 2011 decreased significantly from the prior fiscal year. Between July 1, 2010 and June 30, 2011, 15,614 foreclosure cases were filed, compared to 26,510 cases filed between July 1, 2009 and June 30, 2010. There was also a slight increase in the percentage of foreclosure mediation certificates filed in eligible cases from 47% in FY 2010 to 50% in FY 2011.

The state’s Foreclosure Mediation Program, which began July 1, 2008, provides homeowners and lenders with the opportunity to resolve mortgage foreclosure actions through mediation. It applies to foreclosure actions against homeowners of one-to-four family owner-occupied residential properties. The foreclosure action must have a return date of July 1, 2008 or later and the property must be the homeowner’s primary residence.

As of May 31, 2011, 10,781 foreclosure cases have completed mediation with 65% resulting in the homeowners remaining in the property either through (1) loan modification, (2) forbearance or a repayment plan, or (3) reinstatement or a partial claim.

Chart Source: State of Connecticut Judicial Branch,

available at: http://www.jud.ct.gov/statistics/FMP/FMP_pie.pdf