If you received a Massachusetts foreclosure order of notice in the mail and want to know what it means, keep reading.
A Massachusetts foreclosure order of notice is a document that has to be filed by a lender to start the process of foreclosure.
The foreclosure order of notice must be sent to anyone who has an interest in the property (any other loans, lenders, or even contractors who are owed money for work done to a property will get a copy).
The foreclosure order of notice must also be published in a newspaper and physically posted in a prominent place on the property itself.
Although this can be really embarrassing to someone going through foreclosure, it’s actually a very important protection for consumers.
Back before US law required an order of notice people were sometimes foreclosed on without any warning.
In fact, it’s happened even in the past few years – at least one bank has accidentally foreclosed on the wrong property and kicked people out of their house without due process or warning. Massachusetts has put several procedures in place to protect homeowners from foreclosure without proper notice.
The order of notice is a very important step within the foreclosure process that gives people with an interest in the property a chance to step forward and claim their rights – before it’s too late.
If you’ve received a order of notice, don’t wait. Time is definitely of the essence, and you should take action.
Here are a few key steps you should take:
1) Don’t Panic
Most people believe there is nothing they can do when they receive the order of notice. Anyone in foreclosure is dealing with a lot of stress beyond just the property. These situations don’t happen overnight, and they take a while to solve. You’ll get through it by practicing good coping techniques and taking good care of yourself and your family. Panic leads to bad decisions, so stay cool and take action
2) Educate Yourself On The Next Steps
Learn everything you can about the foreclosure process in Massachusetts so that you know what’s happening and what’s coming up next. You don’t want to be blind sided again.
3) Gather Your Resources
There are many resources available out there to help you during these stressful times. You’ll want professional legal and tax advice along the way. You do not want to try and resolve this by yourself as this stuff is very complicated with a lot rules involved. One mistake and you can find yourself trapped.
4) Find Out Your Options
We’re here to help you avoid foreclosure in Massachusetts. We Buy Houses Here specializes in purchasing homes with cash and we can close fast! We can help you with short sales and even rent-back situations so you may be able to keep living in your home. You have options as long as you take action.
5) Open Communication
Your bank does not want to foreclose on your property in Massachusetts. They just want to get paid, and what you say matters a lot. You can slow down or stop the foreclosure process if you take the appropriate actions immediately. It is very costly for a bank to foreclose on your property and they are willing to work with you.
Do you want to learn more about your options?