Mass. Gen. Laws » Part II Title I Chapter 183
Massachusetts General Laws

Mass. Gen. Laws ch. 183, § 61 (2026)

Payment of interest by mortgagee; request for exemption

✓ text as last checked Sept. 2026 (this copy records no edition or section history)
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Section 61. A mortgagee holding a first mortgage or lien on a dwelling house located in the commonwealth of 4 or fewer separate households occupied or to be occupied in whole or in part by the mortgagor who requires advance payments, deposits or other security by the mortgagor for the payment of real estate taxes on mortgaged property, shall pay interest to the mortgagor on any amount so paid or deposited in advance. Interest shall be paid at least once a year at a rate and in a manner to be determined by the mortgagee. Mortgagees showing a net loss from the investment of the amounts so paid or deposited may file with the commissioner of banks a request for an exemption from the requirement that the interest be paid to mortgagors.

Notes of Decisions
Cited in 5 cases (1 in the last 5 years), 1976–2022 · leading case: Boyd v. Jamaica Plain Co-Operative Bank, 386 N.E.2d 775 (Mass. App. Ct. 1979).
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Boyd v. Jamaica Plain Co-Operative Bank, 386 N.E.2d 775 (Mass. App. Ct. 1979). · cites it 4× “g banks in their discretion to pay interest 4 ), that the bank had been unjustly enriched because its “leave” to mingle the advance payments with its own funds was due to “coercive force inherent in the [bank’s] position as a lender,” and sought interest to be paid on the…”
Carpenter v. Suffolk Franklin Sav. Bank, 346 N.E.2d 892 (Mass. 1976). · cites it 3× “But the substantive problem is resolved for the future by G. L. c. 183, § 61, inserted by St. 1973, c.”
Larkin v. Charlestown Sav. Bank, 386 N.E.2d 790 (Mass. App. Ct. 1979). · cites it 3× “The plaintiff appeals from the allowance of the defendant’s motion to dismiss, based on the ground that the complaint seeking to test the meaning and validity of G. L. c. 183, § 61, does not set out a matter appropriate for declaratory relief under G.”
Greenwald v. First Fed. Sav. & Loan Ass'n of Boston, 446 F. Supp. 620 (D. Mass. 1978). “Mass.Gen.Laws.Ann. ch. 183, § 61 (West 1977) provides: A mortgagee doing business in the commonwealth and holding a first mortgage or lien on a dwelling house of four or fewer separate households occupied or to be occupied in whole or in part by the mortgagor who requires…”
Cantero v. Bank of Am., N.A., 49 F.4th 121 (2d Cir. 2022). “Law § 12-109; Mass. Gen. Laws ch. 183, § 61 ; Minn. Stat.”
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