Investment Property Mortgages
Do you own an investment property? Now you can get away from the high rates at the banks and bring your investment property mortgage to the credit union.
- Part II - Real and Personal Property and Domestic Relations
- Title I - Title to Real Property
- Chapter 184 - General Provisions Relative to Real Property
- Section 17B - Mortgage Loan Application; Real Estate Consisting of a Certain Dwelling House; Required Statements and Information
Section 17B. Every application for a mortgage loan on 1 to 4 family residential property and occupied or to be occupied in whole or in part by the obligor on the mortgage debt shall be made on a printed form which shall contain the following 2 statements in type of at least 2 points larger than the other type used on the application:
- The responsibility of the attorney for the mortgagee is to protect the interest of the mortgagee.
- Mortgagors may, at their expense, engage an attorney of their selection to represent their interests in the transaction.
A printed copy of the above statements shall be given to the mortgagor at the time of making the application.