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 Homeowner's Bulletin Alert |
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 Are you behind on your mortgage? |
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Are you worried you will lose your home? |
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Is your lender refusing to accept your payments? |
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Are you concerned about having a foreclosure on your credit? |
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Have you tried to obtain funds to bring your loan current without success? |
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If you have answered yes to any of these question Contact Us! |
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Attorney General's Office
One Ashburton Place, Room 2010
Boston, MA 02108
Ph: (617) 727-2200
Fax: (617) 727-5768
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Summary:
Judicial Foreclosure: Yes
Non-Judicial Foreclosure: Yes
Security Instruments: Deed of Trust, Mortgage
Right of Redemption: Yes, in foreclosure by possession
Deficiency Judgments: No
Time Frame: Usually 90 days
Judicial foreclosure: In Massachusetts, in the absence of a power of sale clause in the loan document requires the lender to first obtain a court order to foreclose and then take possession of the property peaceably with the proper consent of the borrower. If the lender maintains possession for three years, the borrower’s right of redemption is exhausted at that point.
Non-judicial foreclosure requires that a power of sale authorizing the lender to sell the property to satisfy the loan balance exists in the loan document, and that a notice of sale be served upon the borrower via registered mail at least 30 days prior to the date of sale, and be published weekly in a newspaper of general circulation in the town where the property is located for three consecutive weeks beginning at least 21 days prior to the date of sale.
The sale is conducted as a public auction at the place and time designated. The borrower has no right of redemption in non-judicial foreclosure. |
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Mass Foreclosure Laws
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| In Massachusetts, in the absence of a power of sale clause in the loan document requires the lender to first obtain a court order to foreclose and then take possession of the property peaceably with the proper consent of the borrower. |
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Contact US Today!
Adress:
Elite Consulting Services, Inc.
293 Bridge St., Suite 328
Springfield, MA 01103
E-Mail: info@elitehelps.com
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Laws
