On August 7, 2010, Massachusetts Governor Deval Patrick signed new legislation affecting mortgages, Chapter 258 of the Acts of 2010, “An Act Relative to Mortgage Foreclosures” (the “Act.”) The earliest version of the Act was Senate Bill No. 2406 (known as “An Act to Stabilize Neighborhoods”) which was passed in April 2010 by the Massachusetts Senate. On July 14, 2010, the language was replaced by House Bill No. 4934, as amended, and presented to the Governor for signature. The Act makes sweeping changes to Massachusetts foreclosure law and the required right to cure notice which must be given prior to the commencement of foreclosure. It also provides additional protections for tenants living in foreclosed properties. The Act also creates new requirements for lenders offering reverse mortgages, it creates new mortgage fraud statutes which impose criminal penalties on those who participate in the fraud, and it creates a tax exemption for non-profits that hold real estate to build affordable housing.