Pursuant to Chapter 206 of the Acts of 2007 (Chapter 206)(See SECTION 10.), An Act Protecting and Preserving Home Ownership, as of May 1, 2008 all financial entities with a benefit or interest in a Massachusetts residential mortgage will be required to submit an electronic filing for all foreclosure petitions and foreclosure sales involving one-to-four family, owner-occupied properties.
In addition to the foreclosure petition filing information, the Division will require information for the 90-Day Notice of Right to Cure which is required to be mailed to delinquent borrowers prior to the filing of the foreclosure petition (See SECTION 11 of Chapter 206.). Be advised, the information under the 90-Day Notice of Right to Cure must be electronically submitted to the Division within five business days of filing the petition for authority to foreclose under the Servicemens’ Civil Relief Act in the Land Court or Superior Court. Mailed copies will be returned to a filing company.
The DOB will track developments and trends of mortgage foreclosures on residential property in the Commonwealth. This includes but is not limited to an analysis of the pre-foreclosure notices submitted to the Commissioner and the final foreclosure notices. The data will also be used for tracking trends or patterns relative to the geographic location of the residential properties and interest rates. The report shall be available to the public upon request, and the Commissioner shall make it available in any other manner that he may choose.
No. The Division will not accept copies sent via facsimile, or mailed. All information must be submitted electronically through the Foreclosure Petition website.
Yes.
No. Each loan holder can only access its own foreclosure petitions.
Simply click the Forget Your User Name of Password? link located on the Login page. You will be asked to enter your Federal Tax ID number. After receiving this information, DOB will email you your user name and password.
You cannot edit Borrower, Filing Entity, Previous Loan Assignees, or 90 Day Right to Cure information after you select Commit. You also cannot edit Foreclosure Sale information after selecting Commit Petition Sale.
Foreclosure petitions cannot be deleted from within the application. Therefore, it is important to review the Print Summary page to ensure that you are filing accurate information before clicking Commit.