Massachusetts Foreclosures and Foreclosed Homes for Sale

While Massachusetts has provisions for both judicial and non-judicial foreclosures, the majority of foreclosures are processed out of court. The ease in using an out of court system allows most foreclosures to be completed within three months, which is one of the quickest periods of time in the United States.

Even in non-judicial foreclosures, a ruling must be handed down from the land court stating the borrower is not protected by the Soldiers' & Sailors' Civil Relief Act, which is primarily used to stop the foreclosure of a home owned by an active member of the U.S. Military. After this judgment is received, however, the lender is free to pursue a non-judicial foreclosure.

Once the lender schedules a date for the foreclosure sale, a notice of sale must be printed in a local newspaper once a week for three weeks. Massachusetts law requires the first of these notices to appear no less than 21 days prior to the scheduled auction date, which means investors looking for a deal may have little time to decide whether to attend an auction.

Foreclosure sales are conducted on the property site, using a licensed auctioneer. The highest bidder must pay a deposit, which will be determined in advance, with the rest of the payment due within 30 days. Any funds in excess of the default amount are paid to the original borrower, who does not have a right to redemption under Massachusetts law. After full payment has been received, the county will transfer the deed to the property to the winning bidder within 30 days of the auction date.

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