A high-cost home mortgage loan shall not contain a provision that increases the interest rate after default. This section shall not apply to interest rate changes in a variable rate loan otherwise consistent with the home loan documents provided that the change in the interest rate is not triggered by the event of default or the acceleration of indebtedness.
Mass. Gen. Laws ch. 183C, § 7
Interest rate increases
Known as the Predatory Home Loan Practices Act
The act spans §§ 183–183 (19 sections).
Official source: Massachusetts Legislature. Reproduced from public-domain Massachusetts statutes; confirm against the official source for the current text. Not legal advice.