Connecticut is a judicial foreclosure state. Foreclosure is judicial and often runs about a year, using strict foreclosure or foreclosure by sale. In strict foreclosure the court sets 'law days' by which the borrower must redeem, after which title vests in the lender without a sale. Because a lender absorbs carrying cost and risk for that entire period, a cash note sale today often beats carrying the credit through foreclosure.
Connecticut uniquely permits strict foreclosure, in which the court can vest title directly in the lender after set redemption 'law days,' as well as foreclosure by sale. Either path is a court process that runs months to a year, with carry throughout.
Compare the foreclosure path to a cash sale with the loan-sale-vs-foreclosure calculator, using the timeline above.
A note sale transfers the loan to a buyer for cash, removing the timeline, the legal cost, and the risk of ending up as the owner of the property. Standing Bid Capital is a direct principal buyer of CRE loans, discounted payoffs, and REO — $250K–$25M, all-cash, no re-trade, confidential. Request a confidential review.
Foreclosure is judicial and often runs about a year, using strict foreclosure or foreclosure by sale. Timelines vary with the property, court or trustee schedule, and any borrower defenses; confirm with local counsel.
Yes — a note can be sold at any stage; the buyer steps into the lender's position and continues or resolves the process. Send the current legal status with the loan tape.
Standing Bid Capital buys nationwide, directly and all-cash, $250K–$25M. Request a confidential review.