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Foreclosure and short sales in the Greater New Milford, Connecticut area.

New Milford CT short salesForeclosures and short sales are happening all over, not just in the greater New Milford, CT area. People are unable to pay their mortgages, homes have lost a significant amount of value in the area, owners are frozen, unable to decide what to do. Notices are piling up from lenders, your phones are ringing with demands for payments, life is getting harder to deal with. Then the dreaded thing happens, a notice from the courts that foreclosure action has been filed.

If you get one of those dreaded notices the lender intends to foreclose, don't stick your head in the sand. You still have time! Time to try and sell your house in a short sale. I suggest you contact a real estate attorney immediately who is familiar with short sales and foreclosures. If that is not something you can do for whatever reason, there are people in the courthouse who can actually help you fill out the paperwork.

RESPOND! Respond by the date requested. You can be assigned a mediator by the court who will assist you with the mediation process. During this period you will have to appear in front of the judge with your mediator, the purpose to determine if there is any chance you can keep the home with your current financial conditions. Then, call a real estate agent who is experienced with short sales. Don't wait for the courts to tell you that you can't afford the house, do this right away! (They will probably even ask you if you have tried to sell your home, or are in the process of trying.) Because this mediation process will extend the time it will take the lender to foreclose, it may just give you the time needed to sell your house short.

What exactly is a short sale? It is where you are attempting to sell your home for less than what you owe. I can tell you that it is not always an easy process. Some lenders are better than others. Some homes are more "saleable" than others. The goal of a short sale is to get your house sold and, we hope, get the lender to forgive the difference between what the house sells for and what you owe. You may end up having to negotiate for the difference between the two, you may end up having to sign a promissory note to pay, you might even end up with a 1099 from the lender for the difference. There is not one set scenario, not one set of rules. But it is possible to get the lenders to agree to the short sale and negotiate a positive outcome for you.

Foreclosures and short sales are not specific to any demographic, to any area. More and more home owners in this area are finding themselves unable to pay their mortgage for whatever reason, from the smallest homes to the largest estates. Each of these home owners has a right to try and sell their homes "short", for help through the foreclosure and or short sale process. The process is not specific to any one type of home, and group of people, it is non discriminatory and it can be devastating to all concerned.

Please, don't stick your head in the sand if you are unable to pay your mortgage any longer. If you live in the greater New Milford CT area and are experiencing difficulty paying your mortgage, give me a call. Or call an experienced real estate attorney who knows about both foreclosures and short sales.

Want to read more about short sales? Check out my interview with short sale guru Bill Gassett, Realtor. Short Sales, New Milford, CT Real Estate Talk.

Andrea Swiedler, Realtor, Southern Litchfield County Real Estate

2017 President, Greater New Milford Board of Realtors

2017 Connecticut Magazine 5 Star Realtor


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Coldwell Banker Residential Brokerage

Litchfield County Regional Office,375 Danbury Rd, New Milford, CT 06776


© Andrea Swiedler 2009 - 2017

 Always do right. This will gratify some people and astonish the rest. - Mark Twain

Comment balloon 11 commentsAndrea Swiedler • May 19 2011 06:30PM


Andrea - the folks in your area that might in upside down would be smart to call you sooner rather than later.  If we could only get that word out so many more families could not go through a nasty foreclosure and ruin their credit for a long time.

Please, don't stick your head in the sand if you are unable to pay your mortgage any longer.

Please, don't stick your head in the sand if you are unable to pay your mortgage any longer.

Needs repeating over and over.............

Posted by Anna Banana Kruchten CRB, CRS 602-380-4886, Arizona's Top Banana! (Phoenix Property Shoppe) over 7 years ago

Andrea.. Very well thought out blog, and full of useful information for the seller.  Now if only they would read and ACCEPT this would be great.  As you stated and so did Anna... PLEASE, DON'T STICK YOU HEAD IN THE SAND IF YOU ARE UNABLE TO PAY YOUR MORTGAGE ANY LONGER!  There are ways to work around it if you DON'T wait too long.

Posted by Valerie Osterhoudt, ABR, Cromwell, CT Real Estate ~ 860.883.8889 (Johnson Real Estate, Inc.) over 7 years ago

I wonder why they wait... and do nothing.  As an agent who lists foreclosed homes for several banks I find it very emotional at times.  I admit, sometimes I roll my eyes and wonder how someone could trash a house so bad.  Other times it is so evident the family loved and cared for the home.  I find myself in tears.  I think you've inspired a blog of my own...

Posted by Tammy Lankford,, Broker GA Lake Sinclair/Eatonton/Milledgeville (Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668) over 7 years ago

Andrea, too many home owners feel such shame when they are not able to pay their mortgage.  They hide from their trouble until they can no longer escape the consequences.  Great post.  There shouldn't be any shame..... it is our job to educate these people and to help them before it's too late.

Posted by Vickie Slade, Service You Can Trust ~ Someone You Can Depend On (Colorado Landmark, Realtors) over 7 years ago

Anna Banana, that is the hardest thing, the shame and fear people have. Hard to overcome.

Valerie, thank you. I just wish they would call someone right away, seriously.

Tammy, I know how hard that is. We see such suffering when we walk into a foreclososed home, don't we.

Vickie, there is no shame in it. None at all.

Posted by Andrea Swiedler, Realtor, Southern Litchfield County CT (Berkshire Hathaway HomeServices New England Properties) over 7 years ago

Andrea it is amazing how many people don't know they have options and just let their home go to foreclosure.

Posted by Bill Gassett, Metrowest Massachusetts Real Estate (RE/MAX Executive Realty) over 7 years ago

Andrea, well done. There are so many people that are so wrapped up in their despair and don't understand that doing nothing and waiting to be thrown out is not an option. People can salvage their lives is they just hear the message and take the time to call someone that knows how to help them.

Posted by Ed Silva, Central CT Real Estate Broker Serving all equally (RE/MAX Professionals, CT 203-206-0754 ) over 7 years ago

Bill, not only amazing, but heartbreaking.

Ed, thank you. There are options, they need to take them.

Posted by Andrea Swiedler, Realtor, Southern Litchfield County CT (Berkshire Hathaway HomeServices New England Properties) over 7 years ago

Andrea - great advice for those who may be behind their payments. Not many of them realize there are options for them. I hope they read your post.

Posted by Elizabeth Byrne, Arlington Virginia Real Estate (Keller Williams Realty) over 7 years ago

Andrea, most important is that the home owner needs to get started with someone well versed with short sales.  The process varies so much from one lender to another it's easy to be overwhelmed...great post.

Posted by Nick T Pappas, Madison & Huntsville Alabama Real Estate Resource (Assoc. Broker/Broker ABR, CRS, SFR, e-Pro, @Homes Realty Group, @HomesBirmingham & Providence Property Mgmnt, LLC Huntsville AL) over 7 years ago

Elizabeth, it is so sad when home owners listen to the wrong advice, or are too scared to do anything. We see that on a regular basis.

Nick, oh boy does it! And the rules can change mid stream too. Thank you!

Posted by Andrea Swiedler, Realtor, Southern Litchfield County CT (Berkshire Hathaway HomeServices New England Properties) over 7 years ago