There currently are 18 multifamily houses available on cmls. One is bank owned and the others are traditional sales. The lowest is $229,000 and the highest is $500,000. If you are looking at Town hill 26 & 76 is available. Email me if you want more information. email@example.com or call me at 203-733-2814... more
In CT the bank can and usually will pursue a deficiency judgement, which is one of many reasons why anybody facing foreclosure can and should retain an experienced agent to market and sell the home as a short sale.
A home that has been foreclosed on is usually not maintained well, and deteriorates rapidly in value.
While it is legal for a bank to pursue a deficiency judgement in a short sale, an experienced agent can negotiate that away, or at least drastically reduce it.
The "worst" I ever personally negotiated had the owner responsible for 30% of the HELOC, 10% of which was covered by the first lien holder in the transaction, which left 20% payable over 5 years with no interest, which is a much better situation than having the full amount due.
In most cases, in a short sale the full amount gets waived and the lien noted as "paid in full".... more