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Does actual loss equal proceeds received in foreclosure sale?
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Court Report
Monday, May 11, 2020
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In reviewing an appeal of an award in a foreclosure case, the Appellate Court of Connecticut looked to decisions from New York and Ohio state courts over using the foreclosure sale price to determine the actual loss suffered by an insured mortgagee under an insurance policy when that loss resulted from a superior encumbrance. Read on for details of the analysis.
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