When a person is struggling with large amounts of debt and facing the prospect of filing for bankruptcy, one of their biggest fears may be losing their home. Indeed, debtors who own their homes are often behind on their mortgage payments and are worried about foreclosure, and even those who own their homes outright may worry that selling their home is the only way they’ll have the cash to pay creditors. While losing your home is a possibility during bankruptcy, there is protection via the Massachusetts Homestead Act. To learn more about the Homestead Act in Massachusetts and for help with your bankruptcy case, call Deborah Gold-Alexander Attorney at Law today.
The coronavirus pandemic that has swept the world has left many unemployed, led to a country-wide recession, and affected many people’s ability to work and earn an income. As a result, many homeowners have faced anxiety regarding their ability to make their mortgage payments on time or in full. Recognizing the potential catastrophe, the Massachusetts legislature passed a law on Monday, April 20, 2020 temporarily banning nearly all eviction and foreclosure proceedings throughout the state. Here’s what you need to know about the legislation and the state of foreclosure law in Massachusetts today: