According to RealtyTrac – foreclosures in Connecticut are down 39% from the 4th quarter of 2010 and 65% percent from last year.
According to James J. Saccacio, RealtyTrac’s CEO, said that it was due to “weak demand, declining home prices and the lack of credit availability…..the dual threat of a looming shadow inventory of distressed properties and the probability that foreclosure activity will begin to increase again as lenders and servicers gradually work their way through the backlog of thousands of foreclosures that have been delayed due to improperly processed paperwork.”http://rcm.amazon.com/e/cm?t=debhalsey&o=1&p=8&l=bpl&asins=1413310591&fc1=000000&IS2=1<1=_blank&m=amazon&lc1=0000FF&bc1=000000&bg1=FFFFFF&f=ifr