Under MGL Chapter 244, a lender conducting a non-judicial foreclosure by power of sale in Massachusetts must publish notice of the foreclosure sale in a newspaper. How many consecutive weeks must this notice be published before the sale can take place?
Correct Answer
C) Three weeks
Under MGL Chapter 244, Section 14, the mortgagee must publish notice of the foreclosure sale once a week for three consecutive weeks in a newspaper published in the county where the property is located. The first publication must be at least 21 days before the sale date.
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Related Topics & Key Terms
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Related Concepts
Closing costs are the fees and expenses paid by the buyer and seller at the closing of a real estate transaction, beyond the purchase price. They typically range from 2-5% of the purchase price.
A conventional loan is a mortgage that is not insured or guaranteed by a government agency such as the FHA, VA, or USDA. It is originated and funded by private lenders and may be conforming or non-conforming.
The debt-to-income ratio (DTI) compares a borrower's monthly debt obligations to their gross monthly income. It is used by lenders to determine how much mortgage a borrower can afford.
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