Springfield ForeclosureMassachusetts Foreclosure Attorneys
Foreclosure in Springfield
Springfield is a city in the Commonwealth of Massachusetts and the seat City of Hampden County. Foreclosures in Springfield are legally provided guided by Chapter 244 of the Massachusetts General Laws.
The lender cannot foreclose on the property unless they first obtain a final judgment of foreclosure from the court; the auction in this case is conducted by the county sheriff as part of a publicly sale notice and a complaint is to filed with the court along with a Lis Pendens (a record document serving as a public notice showing that the property has been foreclosed). Talk to a qualified Springfield foreclosure attorney to save your home.
Most of the foreclosures in Springfield are non-judicial foreclosures because Massachusetts is a Title theory state, in that case, the property is held in a trust until all payment for the underlying loan are made; a court judgment is not a prerequisite for the lender to foreclosure because of the power of sale clause included in the mortgage contract and signed at the time of purchase already empowers him/her to sell the property in the event the debtor no longer continues to make the monthly payments.
Default and Right to Cure Notice
After the debtor has fallen behind in his/her payments and does not take the necessary steps to be current on the payments, the lender must issue him/her with a 150 days right to cure.
If the borrower does not pay up the missed monthly payments, the lender should serve him/her acceleration notice showing that the entire debt they owe is due in lump sum, which is to be mailed through a certified or registered mailing service; along with a notice of intent to sue for the deficiency at least 21 days before the auction date.
Service Members Civil Relief Act Complaint
The lender must file this complaint with the court, indicating their intention to foreclose on you and make sure a copy gets to the hands of the debtor who has only 20 days to file a response and the only debtor’s defense here is that s/he serves in the military.
Publication of sale
The lender is to the sale the newspaper at least once a week for 3 consecutive weeks prior to the auction date indicating the type of mortgage, date of sale, the place of sale, time of sale and a description of the property(s).
Notice of Foreclosure sale
The lender must mail to the debtor this notice at least 14 days before the sale date through a certified or registered mail service.
Foreclosure sale and record of sale
The sale must take place on the date and at the venue pointed in the Notice of Foreclosure Sale with a licensed auctioneer in charge; the highest bidder wins; the parties execute the foreclosure deed; deed should be recorded at the registry of deeds.
Having a Springfield foreclosure attorney on your side gives you the ultimate chance to prevent it right on the track. We are licensed and authorized to operate Springfield, Massachusetts. We have been in operation for over 7years, our professionals are highly experienced, our services are diverse and as we seek to assist you resolve your current problems we also have strategies in place to help you avoid them in future and with a foreclosure in your credit records your future creditworthiness will be affected negatively therefore well help you also help you evaluate other means at your disposal that you can apply and avoid foreclosure or stop it from taking place.
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