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Massachusetts Amends Nonjudicial Foreclosure Statute - Bulkley

Massachusetts Amends Nonjudicial Foreclosure Statute - Bulkley 2025

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The document discusses the amendments made to Massachusetts' nonjudicial foreclosure statute through House Bill No. 4323, signed into law on August 3, 2012. The new law introduces significant procedural requirements for mortgage servicers, including the necessity to record all mortgage assignments before proceeding with foreclosure and mandates that creditors attempt to modify certain mortgage loans before initiating foreclosure. It also incorporates legal precedents from the Eaton case regarding the authority of foreclosing entities. The changes aim to protect borrowers and may lead to increased litigation related to foreclosures.

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Is Massachusetts a non judicial foreclosure state?

Massachusetts laws Note: In Massachusetts, a lender may foreclose using a judicial method (foreclosure by entry, MGL c. 244, 1, 2) and/or the nonjudicial method (foreclosure by power of sale, MGL c. 244, 14). The usual foreclosure procedure is by entry and then by exercise of the power of sale.

What is the new law in Massachusetts for foreclosure?

Pursuant to the new law, a lender can opt to send a 90-day notice instead of a 150-day notice if it can certify that it has engaged in a good faith effort to negotiate a commercially reasonable alternative to foreclosure.

What is the 120 day rule for foreclosure?

The rule says the first notice or first filing under a states foreclosure law cant occur until youre more than 120 days delinquent. Your delinquency begins on the first day your mortgage payment is due and not paid.

How long does it take to foreclose on a property in Massachusetts?

Foreclosure Petition: If the homeowner fails to cure the default (meaning pay what is owed and bring the loan current) typically within 150 days of receiving the Right to Cure Notice, the lender can file a foreclosure petition in the county where the property is located.

How many missed payments before foreclosure in Massachusetts?

Under federal law, the servicer usually cant officially begin a foreclosure until youre more than 120 days past due on payments, subject to a couple of exceptions. (12 C.F.R. 1024.41 (2025).)

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