Mass. stops foreclosures on homes during loan modifications

10/21/2013 | MassLive.com

Rules filed by the Massachusetts Division of Banks will keep lenders from foreclosing on homeowners if a loan modification is in progress. The regulations complement rules enacted in 2012 that require mortgage servicers to look into options other than foreclosure and require that certain loans be modified if the cost to modify is less than the cost of foreclosure.

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