Relates to registrations of residential mortgages in default
SUBSTITUTED BY S7933A
Summary
The bill changes state law so that any city or town that registers a residential mortgage in default may charge a registration fee of no more than $300 per year. Mortgage lenders and their agents are prohibited from shifting that fee onto the homeowner who is in default. The measure seeks to protect borrowers from extra costs while still allowing municipalities to collect a modest fee.
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