99- 346 C.M.R. ch. 1, § 7

Current through 2024-51, December 18, 2024

Section 346-1-7 - New Mortgage

A Mortgagor may not have an existing mortgage on the residence securing the Mortgage Loan prior to closing of the Mortgage Loan unless:

(i) the mortgage was for land alone, a construction loan, or a bridge loan or similar temporary initial financing; or

(ii) the Mortgage Loan is for Qualified Rehabilitation.

99- 346 C.M.R. ch. 1, § 7