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In Connecticut, the lenders go to court in what is known as a judicial foreclosure proceeding. Connecticut has two (2) versions of judicial foreclosure one is known as "strict foreclosure" and the other is known as foreclosure by sale where the court must issue a final judgment of foreclosure. In the foreclosure by sale the property is sold as part of a publicly noticed sale. A complaint is filed in court along with what is known a lis pendens. A lis pendens is a recorded document that provides public notice that the property is being foreclosed upon.
A strict foreclosure is a summary proceeding that usually involves a property with little or no equity. Basically all parties in interest to the mortgage
are given a set timetable to make full payment or redeem at the conclusion of which title to the property will pass directly to the lender without a sale if the conditions for redemption are not met.
A "strict foreclosure" is a foreclosure proceeding in which the lender is entitled to take possession of the property directly upon default of the mortgage agreement.
Strict foreclosure is very similar to a deed in lieu of foreclosure, except the borrower does not have the option to refuse. Their only course of action if they wish to fight the proceeding is to take the matter to court.
In simple terms, the mortgage agreement states that the lender owns the property until the mortgage has been paid in full. If the borrower breaks any of the conditions of the mortgage before it is paid in full, they will lose any right to the property and the lender will take possession of it. The borrower forfeits any equity they have built in the property through repayment of principal or increase in property value.
However, in your case the city is foreclosing because the property taxes weren't paid for the property correct?