Foreclosure signifies more than just the loss of an asset. It represents the loss of security, memories, and a roof over your family’s head. If you’re facing financial difficulties, you’ll want to do everything you can to stop a foreclosure.
The question is, “When is it too late to stop a foreclosure in Massachusetts?”
Every U.S state has its processes and deadlines for foreclosure. This article will answer the main question and offer general advice about handling foreclosure.
- You have up to the 150 or 90-day right to cure period to owe just your outstanding mortgage balance, interest, and fees.
- After the bank sends an acceleration notice, they no longer have to let you catch up on missed payments. In addition, you must pay off your full mortgage.
- You can still make payment arrangements or pay the amount due between receiving the notice and the auction. After this, the foreclosure stops, and you return to your standard monthly payment.
- Five days before the scheduled foreclosure auction is your last chance to redeem your mortgage and stop the foreclosure.
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