Division of Banks Releases Q&A on New Foreclosure Legislation - August 10, 2010

On Saturday, August 7, 2010, Governor Patrick signed into Law An Act Relative To Mortgage Foreclosures (the “Act”) as Chapter 258 of the Acts of 2010. The Act has fourteen SECTIONS which address six separate and distinct purposes relating to foreclosures and mortgages. SECTION 7 of the Act completely rewrites the 90-Day Notice of Right To Cure A Default law that was passed in 2007. It does so by striking out the existing provisions of section 35A of Chapter 244 of the General Laws and inserting a new section 35A (“Section 35A”). The Act and particularly SECTION 7 should be read in their entirety.

To view the full Q&A, click here.