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November 15, 2024 Clouds | 32°F
The 193rd General Court of the Commonwealth of Massachusetts
  1. General Laws
  2. Part II REAL AND PERSONAL PROPERTY AND DOMESTIC RELATIONS
  3. Title I TITLE TO REAL PROPERTY
  4. Chapter 183C PREDATORY HOME LOAN PRACTICES
  5. Section 8 Limitation on scheduled payments

Section 8

Section 8: Limitation on scheduled payments

Section 8. A high-cost home mortgage loan shall not contain a scheduled payment that is more than twice as large as the average of earlier scheduled payments. This subsection shall not apply when the payment schedule is adjusted to the seasonal or irregular income of the borrower.