What happens if the mortgage is not paid?

If the mortgage is not paid in Massachusetts, the homeowner may face foreclosure. Foreclosure is a legal process in which the lender that holds the mortgage takes possession of the property and forces the homeowner to leave. This is done intentionally to force the homeowner to pay off the debt they owe on the mortgage. The foreclosure process usually begins when the mortgage payments have been behind for three months or more, although it may depend on the lender. Once the foreclosure process has begun, the lender will serve the homeowner with a notice of foreclosure, which will give them 90 days to either pay off their mortgage debt or enter into a payment plan. If the homeowner is unable to pay the debt, then the lender can proceed to sell the property at an auction to pay off the debt. The homeowner will then be responsible for any remaining balance once the property is sold.

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