Here is a summary of foreclosure laws and rules for the State of Massachusetts:
- In Massachusetts foreclosure law requires lenders to foreclose with non-judicial (trustee sale) foreclosure.
- The foreclosure begins with filing the complaint.
- The borrower is entitled to any surplus if the property sells for more than the loan amount.
- If the foreclosure sale proceeds are not enough to pay off the lender, then the borrower is liable for any deficiency.
- In Massachusetts there is no right of redemption after a sale, but there are procedures for using the redemptive right prior to publication of the first notice of sale.
Much more information is available throughout this website, but for definitive advice ask a Massachusetts lawyer.
If you are interested in reading the actual statutes relevant to mortgage and foreclosure in Massachusetts those laws are available online.
Learn more about what the above procedures and rules mean. Review the homeowner foreclosure guide on this website.