Massachusetts Foreclosure Laws
Attorney General's Office
One Ashburton Place, Room 2010
Boston, MA 02108
Ph: (617) 727-2200
Fax: (617) 727-5768
Foreclosure Laws in Massachusetts
Judicial Foreclosure: Yes
Non-Judicial Foreclosure: Yes
Security Instruments: Trust Deed / Mortgage
Right of Redemption: No
Deficiency Judgments: Certain Circumstances
Time Frame: 90 Days
Public Notice: Complaint
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.
Laws:
Commentary: