Generally the lender must record a notice of foreclosure sale in newsprint as well as within the county courts of where the property is located. Newsprint must be published one time a week for three consecutive weeks prior to date of sale. The first should go public at least 21 days prior to sale. The borrower must be served with intent papers at least 14 days before the foreclosure sale date. The property must be sold to the highest bidder.

If a lender chooses the route of foreclosure by entry or action, the property is sold by the sheriff as part of a public notice sale. The lender is still required to file a complaint with the court of borrower default as well as an alis penden which is a court recorded document that provides a public notice that the property is being foreclosed.

In Massachusetts, a lender can file for a deficiency judgment but it is possible that by doing so it can open the way for the borrower to obtain right to redemption as well. Also, when filing for a deficiency judgment, the lender can only sue for the difference between the balance of the loan in default minus the foreclosure sale proceeds.

If you live in Massachusetts and are facing foreclosure, 1st Foreclosure Prevention can help you work with you lender to stop the foreclosure process and help you to save your home.