Massachusetts has three types of foreclosures:
- Judicial Foreclosure: The least common type of foreclosure in Massachusetts, a mortgagee can go to court and get an order allowing it foreclosure. Doesn’t happen very often.
- Foreclosure by Entry: A foreclosure by entry is when a mortgagee makes an “open and peaceful” entry on the premises and records a certificate in the land records. The mortgagor has three years from the date of recording to oppose it, or foreclosure loses the right to challenge foreclosure. Foreclosure by entry serves as a backup option for mortgagee; many times a mortgagee will start a foreclosure by entry at the same time if begins a non-judicial foreclosure. If, for any reason the non-judicial foreclosure is unsuccessful, the mortgagee can rely on the foreclosure by entry (assuming the mortgagor fails to oppose the entry). More on this to come . . .
- Non-Judicial Foreclosure: A non-judicial foreclosure, as known as a foreclosure by power of sale, is the most common type of foreclosure in Massachusetts. A non-judicial foreclosure has extensive notice requirements and procedural requirements, including publication in a local newspaper and a public foreclosure auction.