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Connecticut housing authorities say they’re starting to reach more troubled sub-prime borrowers with their mortgage rescue plan but they’re still urging more families to come forward.

The Connecticut Housing Finance Authority has been operating the Connecticut Families program since last November, and so far 21 borrowers have been approved for a state sponsored loan.  But officials say that number doesn’t tell the whole story. 45 more loans are in the works, nearly 700 families have received counseling, and almost 600 sub-prime loans have been modified by the original lenders.  Another 16,000 modifications are in progress.
 
There are around 71,000 outstanding sub prime loans on properties in the state, more than 10% of them are known to be seriously delinquent.  Although Connecticut’s foreclosure rate has slowed somewhat since the beginning of the year, the state is still 19th in the nation in terms of foreclosure activity.  The authority has been holding a series of housing fairs around the state. The next begins Friday (May 30th) at the Omni Hotel in New Haven.