Massachusetts Law About Reverse Mortgages
- MGL c.167E, s.7: Reverse Mortgage Loans
- MGL c.167E, s.7A (Counseling portion effective 2/7/2012)
- MGL c.171, s.65: Real Estate Mortgage Loans
- MGL c.171, s.65C-1/2 (Counseling portion effective 2/7/2012)
- MGL c.183, s.67: Reverse Mortgage Loan Prohibition
209 CMR 32.33: Requirements for Reverse Mortgages
Approved Reverse Mortgage Lenders and Loan Programs, Mass. Div. of Banks. Lists approved lenders in Massachusetts.
Industry Guidance on Reverse Mortgage Loans, Mass. Div. of Banks. "Information for banks, credit unions, and lenders seeking to make reverse mortgage loans in the Commonwealth."
Reverse Mortgage Book: Everything You Need to Know Explained Simply, Atlantic Publishing, 2008. Detailed coverage of the various types of reverse mortgages. Requires Library Card for access.
Reverse Mortgage for Seniors: Home Equity Conversion Mortgage, US Dept. of Housing and Urban Development. Provides links to detailed information for seniors and lenders.
Reverse Mortgage Loans: What Borrowers Need to Know, Mass. Div. of Banks. Provides information on issues to consider and steps that must be taken to get a reverse mortgage loan.
Reverse Mortgages, AARP. Discusses the advantages and disadvantages of reverse mortgages, how they work, and other options to consider.
A Risky Lifeline for the Elderly is Costing Some Their Homes, NY Times, October 14, 2012. Outlines the pitfalls of reverse mortgages.
Taking Care of Your Future: A Legal Checkup, Chapter 5: Reverse Mortgages. Mass. Bar Association, 2012. Chapter 5 of this 70-page guide covers reverse mortgages.
The New Reverse Mortgage Formula, Wiley, 2005.
Reverse Mortgages and your Senior Client, Mass. Bar Institute, 2006.