Massachusetts General Laws ch. 171 sec. 66 – Person obligated to make payments under mortgage to be member of credit union
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Section 66. Prior to making mortgage loans on real estate pursuant to sections 65 to 65E, inclusive, a credit union shall require a person obligated from time to time to make payments under a mortgage, whether as the original borrower or as a subsequent owner of a mortgaged property, to be or become a member of the credit union.
Terms Used In Massachusetts General Laws ch. 171 sec. 66
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.