Foreclosures Up Again in Connecticut

We just can't seem to catch a break here in Connecticut. Last week, the United States Census Bureau announced that Connecticut was one of the few states to lose population. A few months ago, General Electric (a really big company with lots of employees) began the move of its headquarters out of Connecticut to the Boston area. And now, statistics show that Connecticut now places 8th in the country for new foreclosure filings in 2016.

Foreclosure Chart

In a recent interview with the Waterbury Republican American newspaper, Gene Melchionne was asked what he thought was the case of these increased foreclosure filings. The answer is simple. To make a mortgage payment, you need to have a job that pays. To live in Connecticut, you need to have a job that pays well. Sometimes you need two or three of these jobs.

It is not cheap to live in this state. To hold on to what you have here, you need to make more than the average American. While Connecticut regularly trades places with New Jersey as one of the highest average income states in the U.S, that average is skewed by some really, really wealthy people who live here. Unfortunately, that does not help he average guys who're my clients.

With the end of the Federal programs on mortgage modification and the lowering standard of living here in Connecticut you may need help. If you re facing financial stress and the possibility of foreclosure, there are still some avenues to treat the problems. Don't wait too long to see help. My contact information is right