Massachusetts Foreclosure Law

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Massachusetts Foreclosure Laws

Typical Massachusetts Foreclosure Time Frame – Typical foreclosure period is 90 days.

Judicial Foreclosure – Yes

Non-Judicial Foreclosure – Yes

Types of Security Instruments – Mortgage and Deed of Trust

Right of Redemption Period – No

Massachusetts foreclosure laws allow for both judicial and non-judicial foreclosures to be sought by lenders seeking to remedy a default on a property.  Using the non-judicial foreclosure process in Massachusetts involves a Power of Sale stipulation or clause in the mortgage contract or deed of rust that allows the lender to be pre-authorized to sell the property to satisfy the mortgage amount due in the event of a default.

A Massachusetts judicial foreclosure involves the absence of a Power of Sale clause and also requires that the lender seek an order from the court to acquire an Order to Foreclose.  Once the order to foreclose has been issued by a Massachusetts court, the lender is able to take possession of the property peacefully with the consent of the borrower. 

According to Massachusetts foreclosure law, non-judicial foreclosure requires that the lender serve a notice of sale upon the borrower at least 30 days before the sale date by United States Postal Mail registered mail.  In addition to serving the borrower a copy of the notice, it must also appear in the public newspaper at least once a week for a minimum of three consecutive weeks.  This must begin no later than 21 days before the sale date as well.

In Massachusetts, the actual sale of the property is to occur at a public auction.  The date and time as well as the location must be set forth in the notice and must be a public location.
Lenders are not allowed to seek deficiency judgments in a default situation.  Borrowers are not allowed any rights of redemption in a non-judicial foreclosure, the rights of redemption in a judicial foreclosure vary depending upon the order of the courts.

For more information on Massachusetts foreclosure laws click here.

 

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The information found on this site is not intended to be legal advice. The foreclosure process is highly case specific and laws vary throughout the United States. Please seek professional legal counsel before entering into any contract regarding any real property or stopping the foreclosure on any real property. By using this site you consent to the terms posted here.