When to Provide the Right to Cure Notice

(1) 90-Day Right to Cure Notice. A mortgagee must provide a 90-Day Right to Cure Notice to the borrower in accordance with 209 CMR 56.04 at least 90 days prior to accelerating maturity of the unpaid balance of the mortgage obligation or otherwise enforcing the mortgage because of a default consisting of the borrower’s failure to make a required payment as provided in the mortgage or note. (2) Borrower Eligibility. The right to cure a mortgage default shall be granted to a borrower once during any five year period, regardless of the mortgage holder. (3) Delivery. (a) Pursuant to M.G.L. c. 244 § 35A(b), the mortgagee shall deliver the Right to Cure Notice to the borrower by: 1. Hand-delivery; or 2. First-class and certified mail or similar service provided by a private carrier to the borrower at the borrower’s address last known to the mortgagee or anyone holding thereunder. (b) The Right to Cure Notice may be provided to a borrower in default with the written notice issued pursuant to 12 CFR 1024.39(b), if included as a separate document and delivered in accordance with 209 CMR 56.03(3)(a). (4) Authorization to Send the Right to Cure Notice. A mortgagee may not send the Right to Cure Notice under 209 CMR 56.03(1), unless it has been authorized to collect on the default. (5) Authorization to Accelerate, Foreclose or Seize the Home through Foreclosure. The mortgagee, or anyone holding thereunder, may take steps to terminate the borrower’s ownership in the property by acceleration of the mortgage, a foreclosure proceeding or other action to seize the home, if the borrower does not cure the default by the date specified on the Right to Cure Notice. Furthermore, in accordance with M.G.L. c. 244 § 35A(e), the mortgagee, or anyone holding thereunder, shall file a copy of the Right to Cure Notice and an affidavit demonstrating compliance with M.G.L. c. 244 § 35A, in any action or proceeding to foreclose on such residential property.