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Dealing with a foreclosure in Massachusetts can be an extremely stressful experience especially when you don’t know who to call or what to do. Homeowners desperately search the internet for answers and many straight out ignore any notices they receive in the mail. When it comes to exploring your options, time is of the essence, especially when negotiating with your mortgage lender.
i want to sell my house fast

What Are the Consequences of Foreclosure?

A foreclosure can hurt you and your family financially in the following ways:

  • Drop your credit score by 100 or more points
  • Prevent you from buying a house and securing loans for 3-7 years
  • Make it difficult for you to find another place to live
  • Forgiven debt viewed as taxable income by the IRS

If you’re in a tight financial spot, you could find yourself in danger of going through the Massachusetts foreclosure process. The effects of a foreclosure extend well beyond losing your home.

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Foreclosure Timeline in Massachusetts

    Stage 01

    Right To Cure Notice

    The first day you’re late for your mortgage payment is typically the 16th day of the month. Banks and lenders usually extend a 15-day grace period. Expect to receive calls and letters from the bank, reminding you to take care of payment.

    Stage 02

    150 Day Right To Cure Notice

    After 30 days of missing a payment, the bank will send you a “Right to Cure Notice”. Depending on your mortgage guidelines, banks can give the borrower 90 days or 150 days to bring the mortgage current.

    Stage 03

    Attorney Starts The Process

    Once the 150 days expire, the bank will hand your file to an attorney who will begin foreclosure. The bank may also send you an “Acceleration Notice,” which states that you now owe the full amount of your mortgage plus any interest and fees. The bank no longer has to let you catch up on your missed payments.

    Stage 04


    The bank’s attorney will now file a “Servicemembers Civil Relief Act Complaint” with the court. If you were on active duty or just discharged, you have 20 days to respond from the date you were served. It is against the Soldier and Sailors Act to foreclose on anyone in active military or recently discharged.

    Stage 05


    After 20 days, a judgment can be given to foreclose on your property. The foreclosure auction notice will be published in the local newspaper for 3 consecutive weeks. The bank will send you a certified letter at least 14 days before the auction to notify you of the auction date. A public auction will be held on your property on the day in the notice you received and also published in the newspaper.


    Options to avoid foreclosure


    The simplest option, and the option that everyone would prefer, is reinstatement. This is when a homeowner facing foreclosure on their mortgage loan brings their mortgage current by paying off all the missed payments, fees, and other associated costs that have accrued.

    In most cases, the homeowner has a specific period (known as the reinstatement period) during which they can bring the mortgage current by paying the overdue amount in full.


    Struggling homeowners can refinance their homes to avoid foreclosure. Refinancing involves obtaining a new mortgage loan with better terms or lower monthly payments to replace the existing one. 

    Note: It’s not possible to refinance your home during the foreclosure process. 

    Sell To A Real Estate Investor

    Selling your home because of financial issues is the last thing you want when you become a homeowner. However, the consequences of foreclosure may outweigh staying in your home, awaiting the inevitable. We can help you avoid the foreclosure process and possible pay off all your debt with an all-cash offer.

    the easiest way to sell your house is to sell to New England Home Buyers

    Sell To New England Home Buyers

    I’m Shad and with my team, we will bring an offer that works for you. We pride ourselves in providing homeowners with fast and simple home selling solutions. If you need to sell a home, we’re here to help!


    5 Critical Questions To Ask A Home Buyer Before Selling

    You’re in a rush to sell your home, pay off your debt to the bank, and avoid the foreclosure process. Don’t let the emotions of this process push you to make a poor decision.

    Not all real estate investors are created equally. If you want a fast and legal sale of your home, you need to work with a real estate investor who can say “yes” to all of these questions.

    Proof of funds verified by their bank or lender showing they are making an honest offer?

    Do they have an A+ rating by the Better Business Bureau?

    Do they have video testimonials from actual local customers?

    Are they an actual business, registered as an LLC, Partnership, or Corporation?

    Do they have a physical office, staff, and systems to help you through the entire process?

    No Cleaning. No Repairs. Just an Easy Selling Process With Us!

    After we close on your property, our team goes in, cleans, and makes all the necessary repairs. You don’t need to worry about this when selling to New England Homebuyers.

    See What Sellers Say About Us

    “Communication was great and they helped each step of the way. Couldn’t imagine any easier or simpler way to sell my house. This company was a lifesaver and I would definetely recommend them to anyone. Thank you so much!”

    Bill G. Peabody Review

    Bill G. Peabody


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