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National Report Finds Connecticut's Foreclosure Laws Protect Homeowners
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A national consumer advocacy group has released a report that examines foreclosure laws across the country. 

Connecticut is one of two states that offer homeowners protection against so-called fast track foreclosures according to the National Consumer Law Center in Boston.

Study co-author and attorney with the Law Center, John Rao says there are 30 states who do not  offer homeowners due process protections, something he says that renters are often afforded.

"A homeowner could lose their property rights, on a property they may have owned for 10-20 years, and there is never a court proceeding where a neutral party would determine whether or not they should lose their home."

Rao says Connecticut fared better than most states in the report. He called many of the foreclosure laws "antiquated" including almost all states have no requirement to help property-owners find alternatives.

"In some of the judicial foreclosure states like Connecticut there is a diversion or mediation kind of program where homeowners can try to resolve and perhaps reach an agreement on a settlement or a loan modification to avoid foreclosure."

The state also got strong marks for having an emergency assistance fund for families facing foreclosure but Ra-o cautioned the report couldn't analyze how effective the program is and whether it's adequately funded.

Earlier this week, officials with Connecticut's Housing Finance Authority told the legislature's Banks Committee that the fund has helped more than 15,000 families since the program was created last year.

Rao says the ultimate goal of the  the National Consumer Law Center's report is to encourage states to stem the foreclosure crisis by strengthening laws without waiting for court challenges on a   case by case basis.