Redemption and Deficiency Judgments in Massachusetts
Whether you can buy back your home after a foreclosure sale in Massachusetts, and whether the lender can sue for what's still owed.
Short answer: After a default, the owner may redeem the mortgaged property unless the lender has held possession after an entry for 3 years, or unless the property has been sold under the mortgage's power of sale. Mass. Gen. Laws ch. 244, §§ 1, 18
| Redemption after the sale | After a default, the owner may redeem the mortgaged property unless the lender has held possession after an entry for 3 years, or unless the property has been sold under the mortgage's power of sale. In other words, the right to redeem ends at a power-of-sale foreclosure sale; the statute does not provide a redemption period after that sale. |
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| Deficiency judgments | A lender may sue for a deficiency after a power-of-sale foreclosure, but only if it mailed the borrower a notice of intention to foreclose with a deficiency warning, by registered mail, at least 21 days before the sale, and signed an affidavit of that mailing within 30 days after the sale. The deficiency lawsuit must generally be filed within 2 years after the foreclosure sale. |
More Massachusetts foreclosure & homeowner law
- How Foreclosure Works in Massachusetts
- HOA Liens and Foreclosure in Massachusetts
- Getting Your Home Back After a Tax Sale in Massachusetts
- All Massachusetts foreclosure & homeowner law rules
FAQ
Is there a right of redemption after foreclosure in Massachusetts?
After a default, the owner may redeem the mortgaged property unless the lender has held possession after an entry for 3 years, or unless the property has been sold under the mortgage's power of sale. In other words, the right to redeem ends at a power-of-sale foreclosure sale; the statute does not provide a redemption period after that sale.
Can the lender come after you for the rest of the loan after foreclosure in Massachusetts?
A lender may sue for a deficiency after a power-of-sale foreclosure, but only if it mailed the borrower a notice of intention to foreclose with a deficiency warning, by registered mail, at least 21 days before the sale, and signed an affidavit of that mailing within 30 days after the sale. The deficiency lawsuit must generally be filed within 2 years after the foreclosure sale.
General legal information, not legal advice. Laws change and local rules can differ; check the linked official source or talk to a lawyer about your situation.