What are the foreclosure statutes in my state?

The foreclosure statutes in Massachusetts are outlined in Chapter 244 of the Massachusetts General Laws. Under these statutes, lenders have the right to foreclose on a borrower who is delinquent on their mortgage payments. The foreclosure process starts with the lender filing a complaint in court to acquire a court order to foreclose on the property. The lender must attempt to contact the borrower to discuss their options, such as selling the property or entering into a repayment plan. If the borrower fails to respond or does not enter into an agreement, the court can issue a foreclosure judgment that allows the lender to proceed with foreclosure on the property. The foreclosure process in Massachusetts is judicial, meaning that the borrower has the right to appear in court to defend themselves and argue against the foreclosure. If the court rules in favor of the lender, the court will set a public auction date for the sale of the property. If the property is sold at a public auction, the proceeds will be used to pay the mortgage and other fees, such as legal costs. If the sale of the property does not produce enough money to pay off the mortgage, the lender can pursue the borrower for the remaining balance. It is important to note that there are certain protections in place for borrowers in Massachusetts, and if foreclosure is threatened, borrowers should seek legal advice as soon as possible to protect their rights.

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What are the foreclosure statutes in my state?

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