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Session Laws

1987

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CHAPTER 145 AN ACT RELATIVE TO THE PREPAYMENT OF MORTGAGE LOANS.

Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:

Paragraph 9 of section 6 of chapter 167E of the General Laws, as appearing in the 1984 Official Edition, is hereby amended by striking out the first paragraph and inserting in place thereof the following paragraph:-

Any loan secured by a mortgage on real estate improved with a dwelling designed to be occupied by not more than four families and occupied or to be occupied in whole or in part by the mortgagor, may be repaid at any time in full or in part subject to such anticipatory charges as may be provided, subject to applicable law, by the mortgage note.

Approved June 16, 1987.