Massachusetts Foreclosure Proceedings

Every state has different legislation on how foreclosures are treated. If you are a Massachusetts resident then you should make yourself aware of how foreclosures are handled. People do not plan on having their homes foreclosed on when they purchase a home, so even if you think that it could never happen to you, it is always better to be prepared. Massachusetts is a title theory state. This means that, as opposed to lien theory states, a mortgage acts as a transfer of legal title in order to secure a debt. With a lien theory, the party giving the mortgage does not retain the equitable title but they do with title theory. A home or property will then be considered "in trust" until all the payments are complete.

Foreclosures also follow specific guidelines for each state, and in Massachusetts they follow a non-judicial foreclosure. As it sounds, this type of proceeding does not involve court involvement but does require a sale. If you are thinking about buying a home in Massachusetts, your mortgage paperwork will contain what is known as a "power of sale clause." Upon signing this, you are agreeing that your mortgagor has the authority to sell your home if you default on your loan. These proceedings may not involve court appearances, but attorneys are still needed in order to guide the process along. The entity you are paying your mortgage to has the power of sale and also has the responsibility to notify the tenants of the approaching foreclosure proceedings.

Contact a Boston Bankruptcy Attorney

All of this does not mean that you are without a voice in the matter. If you default on your home loan and your mortgagor begins foreclosure proceedings, you still have a right to contest them. Contesting on your own without representation is difficult and you may not exactly know how to go about it. It would be wise to consider speaking with a Worcester bankruptcy lawyer from the Law Office of Robert W. Kovacs, Jr. in order to find out exactly how you can be helped. There is no need to feel ashamed about the possibility of bankruptcy or foreclosure. Attorneys at the Law Office of Robert W. Kovacs, Jr. understand and exist to help you.

Contact a Worcester foreclosure attorneyfromthe Law Office of Robert W. Kovacs, Jr.today if you want help fighting your foreclosure.