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ARTICLE · 30 JULY 2012

Massachusetts Legislature Passes Compromise Foreclosure Prevention Legislation

Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.
Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.
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Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.

Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.

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Yesterday, after several weeks of negotiations, the Massachusetts Legislature’s six-member conference committee on foreclosure prevention legislation filed House Bill Number 4323, "An Act Preventing Unlawful and Unnecessary Foreclosures."

United StatesFinance and Banking
George Atanasov
George Atanasov
Julie Cox
Julie Cox
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Yesterday, after several weeks of negotiations, the Massachusetts Legislature's six-member conference committee on foreclosure prevention legislation filed House Bill Number 4323, "An Act Preventing Unlawful and Unnecessary Foreclosures." The House of Representatives then unanimously passed the measure, and the Senate today accepted it 35-0. The act would take effect immediately upon signature by Governor Deval Patrick; however, the provisions that govern the foreclosure process specifically will apply to any person receiving notice of a right to cure after November 1, 2012. Legislative leaders say that with this legislation Massachusetts has taken an important step to reforming the foreclosure market by simplifying, restructuring and regulating the existing market. See prior MLS Alerts on Foreclosure Legislation here.

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