The courts have inherent power to restrain the sale of mortgaged premises in foreclosure proceedings, but are reluctant to exercise such power except where it is shown that particular circumstances, extrinsic to the instrument, would render its enforcement in this manner inequitable and work irreparable injury, and that complainant has no adequate remedy at law. Furthermore, a party must show a probable right of recovery in order to obtain a temporary injunction of a foreclosure action.
Massachusetts Petition or Complaint to Enjoin Nonjudicial Foreclosure Sale and for Declaratory Relief
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FAQ
If you default on your loan payments in Massachusetts, your mortgage servicer (on behalf of the loan owner, called the "lender" in this article) will eventually begin the foreclosure process. The procedure will most likely be nonjudicial (out of court), although judicial foreclosures are also allowed.
The lender or company who manages the mortgage account (the servicer) must contact you (or at least try to) to discuss ways to avoid foreclosure before starting the process. The servicer must give you one person to contact during the foreclosure process.
Lenders must first send a notice of a foreclosure to the homeowner. The notice must be sent at least 14 days prior to the foreclosure sale date. A foreclosure sale will take place at the date, time, and place specified in the foreclosure notice. The foreclosure sale will be conducted by a licensed auctioneer.
The law now requires that lenders send a 150-day right-to-cure notice rather than a 90-day notice in any case where the property sought to be foreclosed is the borrower's principal residence and is collateral for a residential loan.
How to Stop a Foreclosure in Massachusetts Paying Off the Owed Debt. The obvious way of stopping a foreclosure is simply to pay off the owed debt on the mortgage loan. ... Loan Modification. ... Bankruptcy.
Nonjudicial foreclosures occur if your mortgage has a power of sale clause, and allow your mortgage company to auction off your home after a warning and waiting period. Nonjudicial foreclosures can be a faster process than judicial foreclosures as they do not involve having to go to court.
In a Massachusetts nonjudicial foreclosure, the lender will likely file a lawsuit, often called a "servicemember's case," in the Superior Court Department or the Land Court Department of the Trial Court for a determination as to whether the homeowner is entitled to protections under the federal Servicemembers Civil ...