Massachusetts Agencies

Second Mortgage


G.L.c. 244, §35A provides:

Chapter 140 section 90B needs to be considered when foreclosing certain mortgages. If the mortgage is not a first mortgage, but is for more than $15,000 and is on property having an assessed value of no more than $40,000, a special 15-day notice must be given to the borrower before foreclosure. The statute provides that "[f]ailure of the lender to comply with the provisions of this paragraph shall suspend his rights until such time as he complies with said provisions."