Massachusetts Governor Deval Patrick

Massachusetts General Laws c, 244 section 14
Foreclosure under power of sale; procedure; notice; form

Preforeclosure Notice To Borrower

• Number of Notices - One: Notice of Sale to owner no later than 14 days before the sale date, and by publication
  for 3 successive weeks.
  
  
• Content of Notice -
  a) Date, Time, Place, and Terms of the Sale;
  b) Name othe the Mortgagor (lender), and;
  c) Description of the Property.
  
  
• Method of Service - By registered or certified mail, or by publication.
  
  
• Right to Cure Default / Reinstate - None
  
  
• Redemption - None after the sale, if sold pursuant to the power of sale in the mortgage deed, or if a buyer in possession of land for 3 years.
  
  
• Deficiency - A deficiency judgment is obtainable. Notice of intent to seek a deficiency must be given in the Notice of Sale. Notice of Sale must be served 21 days prior to the sale, if a deficiency judgment is to be sought.
  
  
• High Cost Home Loans - Under the Predatory Home Loan Practices Act (Mass. Gen. Laws ch. 183C sec. 1-19), before accelerating a loan for default, a lender must notify the consumer in writing and offer a reasonable opportunity to pay any outstanding balance.. Mass. Gen. Laws ch. 183C sec. 9, A High Cost Home Loan made without compliance with counseling requirements is unenforceable M.G.L. 183C sec 3. COURT THAT FINDS VIOLATION OF HOME LOAN STATUTE HAS THE POWER TO RESCIND THE HIGH COST HOME LOAN, BAR THE LENDER FROM COLLECTING, ENJOIN THE FORECLOSURE OR ANY OTHER ACTION, REFORM THE TERMS OF A HIGH COST HOME MORTGAGE ENJOIN OTHER PROHIBITED CONDUCT, AND PROVIDE ANY OTHER NECESSARY RELIEF. M.G.L. 183C sec 18. Borrower in foreclosure may raiseviolations of the statute against an assignee of the mortgage (unless assignee exercises due diligence and takes other precautions to avoid accepting assignment of high-cost home loans) as a defense or counterclaim, or in an action to enjoin foreclosure or preserve or regain possession. M.G.L. 183C sec 15.
  
  
• Miscellaneous - Notice of postponement of the sale, if any, is not required. Most foreclosure sales are held after a judicial process in the Land Court to determine that the borrower is not a soldier or sailor on active duty oversees, No other defenses may be raised in this judicial proceeding.