Massachusetts S833 aims to protect equity in real estate transactions by regulating shared appreciation mortgages.
Massachusetts S833 seeks to safeguard equity in real estate transactions by introducing regulations for shared appreciation mortgages. This bill mandates that entities must provide written notice to individuals before offering a shared appreciation mortgage. The notice must include details about the mortgage and the requirement for third-party counseling. The mortgage becomes due upon the sale, refinancing, or other specified events. The entity is not liable for relief if the individual receives full disclosure.
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- Legal Framework
- Critical Issues
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