Bill > S653

This bill establishes a Massachusetts Foreclosure Prevention Program that requires creditors and eligible borrowers to engage in good faith conferences to explore options for avoiding foreclosure. The program provides for supervised conferences where the parties must make a good faith effort to consider all available foreclosure prevention alternatives. The bill defines key terms, outlines the conference procedures, and authorizes courts to impose sanctions if creditors fail to participate in good faith. The program is funded through a fee charged to creditors filing Servicemembers Civil Relief Act cases, and the funds are used to administer the program and conduct outreach to homeowners at risk of foreclosure.

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https://malegislature.gov/Bills/193/S653