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Massachusett Foreclosure Law and Procedure

Here is a summary of foreclosure laws and rules for the State of Massachusetts:

  • 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.
  • 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.
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.
Posted by Ralphmcd3 on Sat, 02/23/2008 - 16:16

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