What deeds of trust can a lender use in a foreclosure process?

A deed of trust is a legal document used by a lender as security for a loan. In Massachusetts, a lender can use a deed of trust in a foreclosure process if the borrower defaults on their mortgage payments. The deed of trust allows the lender to take possession of the property if the borrower does not make their payments. A deed of trust typically includes the amount of money borrowed, the interest rate, payment terms, and other loan terms. The deed of trust will also specify if the lender has a lien (a legal claim) on the property, which gives them the right to take possession of it if the borrower cannot make their payments. The lender can also use a deed of trust to initiate a foreclosure in Massachusetts. If the lender initiates a foreclosure, they will serve the borrower with a notice to accelerate the loan. This gives the borrower a specific amount of time to bring their payments current or surrender the property to the lender. If the borrower does not comply, the lender can begin the foreclosure process. The lender will then file a Complaint to Foreclose to begin the process. The lender must also record a notice of the foreclosure in the public record. Once the property has been foreclosed, the deed of trust will be used to transfer possession to the lender. Ultimately, the deed of trust is an important document in a foreclosure process. It allows the lender to take possession of the property if the borrower defaults on their payments, and it is used to begin and record the foreclosure process.

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What deeds of trust can a lender use in a foreclosure process?

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