The Massachusetts State Legislature has extended a series of relief measures related to the COVID-19 pandemic, adding an additional six months to allow for phone and video-based reverse mortgage counseling. A more permanent measure is under consideration.
The Massachusetts state Division of Banks has issued new industry guidance related to the in-person counseling requirement for reverse mortgage loans as a result of the outbreak of the COVID-19 coronavirus. The guidance stems from recent legislation signed into law by Governor Charlie Baker last week, which features a provision permitting telephone or video counseling […]
The Massachusetts House of Representatives and state Senate passed a bill late last week providing a statewide moratorium on foreclosures and evictions during the COVID-19 coronavirus emergency, which also features a provision permitting telephone or video counseling for reverse mortgage transactions for the duration of the current emergency. The bill was then signed into law […]
A new piece of emergency legislation in the Massachusetts state Senate aimed at providing relief to the housing sector during the COVID-19 coronavirus pandemic would relax the state’s stringent face-to-face housing counseling requirement, which would have the effect of allowing stalled reverse mortgage business within the state to continue. The recently-submitted bill, sponsored by the […]