Bill > H2143

This bill authorizes municipalities in Massachusetts to establish foreclosure mediation programs. The key provisions include: - Requiring mortgagees to participate in the mediation program prior to foreclosure of residential properties in participating municipalities. The mediation aims to negotiate commercially reasonable alternatives to foreclosure. - Establishing guidelines for the mediation program, including requiring good faith participation by both the mortgagor and mortgagee, providing access to housing counseling, and issuing certificates of mediation completion. - Allowing municipalities to charge a reasonable registration fee to the mortgagee for the mediation program, but prohibiting any costs to be charged to the mortgagor. - Requiring the certificate of mediation completion to be filed with the registry of deeds prior to or at the time of foreclosure. - Imposing fines on mortgagees for non-compliance with the mediation requirements. The goal of the bill is to provide an opportunity for homeowners facing foreclosure to work with their lenders to find alternatives and avoid losing their homes.

Government Affairs

https://malegislature.gov/Bills/192/H2143