Course Learning Objectives
What Is Foreclosure?
Why Do Foreclosures Happen?
The Promissory Note vs. The Mortgage
What Is Mortgage Default?
Massachusetts Foreclosure Law
Judicial vs. Non-Judicial Foreclosure
Understanding the Power of Sale
The Massachusetts Foreclosure Timeline
Massachusetts 90-Day Right to Cure
Who Is Protected by §35A?
What's in the Right-to-Cure Notice?
What Does It Mean to “Cure” the Default?
Can the Homeowner Sell Before Foreclosure?
Foreclosure Prevention and §35B
Loan Modification
Forbearance & Repayment Plans
Short Sale as a Foreclosure Alternative
Deed in Lieu of Foreclosure
Moving Toward the Foreclosure Sale
Notice of Foreclosure Sale
Publication Requirements
Can a Foreclosure Auction Be Postponed?
The Foreclosure Auction
Bidding at the Auction
Deposits & Financing
What Happens to Liens?
Property Taxes & Condominium Issues
Foreclosure Buyer Due Diligence
What Happens After the Foreclosure Sale?
Foreclosure Deed & Affidavit
The Right of Redemption
What Happens to the Former Owner?
Occupied Foreclosure Properties
Tenants After Foreclosure
REO / Bank-Owned Property
Auction vs. REO Purchase
Foreclosures & “As-Is” Condition
Inspections, Utilities & Financing
Representing a Homeowner Facing Foreclosure
Your First Meeting With the Distressed Seller
CMA & Equity Analysis
Working Against the Foreclosure Clock
Foreclosure Rescue Scams
Stay Within the Licensee's Role
10 Common Foreclosure Mistakes
FINAL CASE STUDY
10 Things Every Massachusetts Agent Should Remember
Final Review & Course Conclusion
