Massachusetts Foreclosure Laws

Foreclosure Laws in Massachusetts

While Massachusetts allows both judicial foreclosures and non-judicial foreclosures, the primary method of foreclosure proceedings are conducted out of court. Generally, a foreclosure in Massachusetts takes three months to complete.

Before a foreclosure in Massachusetts can occur, a ruling must be made by the local land court approving the default and foreclosure to make sure that the property is not subject to special law protecting members of the military from foreclosure.

Once this is cleared, a lender can proceed with scheduling a foreclosure sale and following the foreclosure process. While no law in Massachusetts requires that the lender notify homeowners of the beginning of a foreclosure, many do so anyway. Depending on the stipulations of the mortgage, the homeowner may avoid foreclosures by paying off the debt owed before the sale occurs.

In order to properly advertise Massachusetts foreclosure homes, the lender must post a Notice of Sale on the property in question and also publish it in a local newspaper for three consecutive weeks leading up to the scheduled date of the foreclosure sale. The lender must also serve the homeowner and any junior lien holders with a copy of the Notice of Sale at least 14 days before the sale occurs, so that the homeowner may seek foreclosures help if needs be.

On the day of the sale, a licensed auctioneer will oversee the foreclosure auction and determine the highest bidder to be the winner. Upon the sale's conclusion, the winning bidder must submit a deposit and make arrangements today off the rest of the winning bid amount within 30 days. The sale may be postponed any number of times by announcement at the scheduled time of the sale. The winning bidder is entitled to a Certificate of Sale, and ownership of the property will be transferred to them within 30 days after the sale concludes.

While the original homeowner is entitled to any surplus proceeds the sale generates, Massachusetts law allows them no redemption period.