 Massachusetts pre-payment penalty law?
What is the name of your state?What is the name of your state? Massachusetts, I'm trying to find out if it is true that Mass. has a law that makes pre-payment penalty's illegal. I sold my second house and lost out on almost $8,000 dollars of the procedes to Countrywide home loans. I was told about this law after the fact and I am wondering if it covers only loans signed after the law was past or if it is a general law. We would like to re-finance this new house now, as the value/ equity has gone up but again we face a penalty unless we wait till Nov. of 2006. Any help on this matter would be greatly appreciated. Please also include the law number on the books, and the date that it went in to effect, if this law does indeed exist | 
09-12-2005, 10:27 PM
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