Boston Real Estate for Sale

Our elected officials are falling over themselves to propose new legislation intended to protect borrowers from overzealous lenders (and, borrowers from themselves, perhaps?).

* State Attorney General Martha Coakley urged a key State House committee to consider making subprime mortgage fraud a criminal offense. Currently, mortgage fraud involving lenders other than banks is considered a civil offense.

* [Secretary of State William Galvin] suggests that mortgage companies get permission from the courts before seizing a home from delinquent borrowers. Massachusetts is one of 20 states that do not require court approval when homeowners default on mortgage payments.

* State Senator Jarrett Barrios (D-Fluffernutter) currently has a bill under consideration that would mandate the licensing of loan officers, pre-closing reviews of mortgage terms by third parties and a 30-day period for delinquent borrowers to make up any past-due amounts without penalty.

All of these sound good to me. I worry that people are moving a little fast on this whole thing, but whatever.

Source: Greater Boston Real Estate Board (3rd item)

Back to Boston condos for sale homepage

Contact me to find out more about Boston condos for sale or to set up an appointment call/text 617-595-3712.

Boston condos

Boston condos for sale

SEARCH FOR CONDOS FOR SALE AND RENTALS

For more information please contact one of our on-call agents at 617-595-3712.

Updated:  1st Q 2018

Call Now