After issuing multiple decisions over the past several years emphasizing the importance of strict compliance with the statutory requirements for foreclosing on real estate, the Massachusetts Supreme Judicial Court has held that the strict compliance standard does not...
Foreclosure
A Brief Synopsis of Recent MA Mortgage-Related Decisions
Several mortgage-related decisions have recently issued from both the Massachusetts federal and state courts. In no particular order, here is a brief synopsis of some of the more interesting ones: In U.S. Bank National Assoc. v. Bolling, 15-P-1259 (Sept. 1, 2016),...
A New, Albeit Unsuccessful, Case Challenging Attorneys’ Authority to Foreclose on behalf of the Mortgagee
In a new decision, the Supreme Judicial Court has analyzed another provision of the mortgage foreclosure by power of sale statute, G.L. c. 244, § 14, in a challenge by a former homeowner to such a foreclosure sale. Specifically, the Court considered the difference...
To Surrender or To Vest: That is the Question
Can a homeowner who owes more on their mortgage than their property is worth force the mortgagee to take title to the property as part of a bankruptcy plan? Put more simply: can an underwater homeowner, by filing bankruptcy, force a bank to take their property off...
Third Time’s (Not) the Charm
The Appeals Court, in a recent decision, Zullo v. HMC Assets, LLC, No. 14-P-1696 (Dec. 30, 2015) (issued pursuant to its Rule 1:28), upholding a summary judgment decision by the Land Court, both reiterated the fundamentals of foreclosure law, and raised (but did not...
Foreclosure Bill Passes Senate, Moves to House
By a 31-7 vote, the Massachusetts Senate passed a bill last week that attempts solve a portion of the ongoing foreclosure crisis by giving assurances to those who purchase property after foreclosure. The proposed legislation would implement a three-year period of time...