Massachusetts Foreclosure Law
Massachusetts is primarily an out-of-court foreclosure state.
The foreclosure process can take less than three months after
the lender schedules a foreclosure sale.
Pre-foreclosure Period
Before any foreclosure can begin in Massachusetts, a ruling
from the land court must be obtained to ensure the borrower is
not subject to protection under the Soldiers' & Sailors' Civil
Relief Act, which may postpone foreclosure action for active
members of the U.S military. Once a judgment authorizing the
foreclosure is obtained from the land court, a lender may
proceed with a foreclosure sale. The mortgage may require the
lender to notify the borrower of any default before scheduling a
sale, but Massachusetts does not require this.
Notice of Sale / Auction
The lender publishes a notice of sale in a local newspaper
where the property is located. The notice appears once per week
for three weeks, and the first notice occurs no less than 21
days prior to the sale date. The lender also sends a notice of
sale at least 14 days before the sale to the borrowers and any
other affected parties. A licensed auctioneer conducts the sale
at the property, which is sold to the winning bidder. The
winning bidder must pay a deposit and deliver the remaining
funds within 30 days. A foreclosure sale may be postponed by
auctioneer announcement, and there is no limit to the number of
allowable continuances. Within 30 days after the sale, the sale
is recorded and the ownership is transferred to the winning
bidder. The borrower is entitled to any surplus in the sale
proceeds, but has no right of redemption after the foreclosure
sale.
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