GRP Candidates Unanimously Support Bill and Decry Legislative Inaction
The Green-Rainbow Party calls on the Massachusetts Legislature to adopt, without delay, “An Act to stabilize neighborhoods” (H 4595, a.k.a. “the foreclosure bill”). As summarized by City Life/Vida Urbana & MAAPL, the bill
“…would prevent foreclosing banks from evicting tenants `no-fault’ in buildings banks own after foreclosure. The law would only affect foreclosing banks, not subsequent owners. The proposed law would not require state funding. It will help homeowners facing foreclosure by making banks make a good faith offer for a loan modification to prevent foreclosure or the bank will have to wait an additional 60 days up to a total of 150 days before it can foreclosure. This will provide incentives for more good faith negotiation by banks.”
The legislation will also make mortgage fraud a criminal action and assist localities in rehabilitating foreclosed properties.
Continue reading Green-Rainbow Party Urges Passage of Foreclosure Bill, Endorses Vigil Action