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February 23, 2024 Clouds | 39°F
The 193rd General Court of the Commonwealth of Massachusetts

Section 67: Reverse mortgage loans on residential property; requirements

Section 67. No mortgagee shall make a reverse mortgage loan on residential property except in accordance with sections 7 and 7A of chapter 167E. For the purposes of this section, the term ''residential property'' shall mean a 1 to 4 family dwelling owned and occupied in whole or in part by the mortgagor and located in the commonwealth.