Senate: Bill reported favorably by committee and referred to the committee on Senate Ways and Means
Summary
The measure changes Massachusetts law so that any lender offering a shared‑appreciation mortgage must give borrowers a written notice with key terms, require HUD‑certified counseling, and limit the lender’s share of any future appreciation to 15 percent. It applies to borrowers who are at least 90 days delinquent on a prior mortgage and who are acquiring or re‑acquiring a home. The changes aim to increase transparency and protect homeowners from potentially unfair loan terms.
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