An Act to facilitate alternatives to foreclosure
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Overview
This bill aims to strengthen the Massachusetts Foreclosure Mediation Program, providing more resources and support to homeowners facing foreclosure. It seeks to encourage and facilitate alternative solutions to foreclosure proceedings, potentially preventing unnecessary evictions and financial hardship for struggling homeowners. The bill intends to improve the program’s effectiveness in assisting individuals navigate the foreclosure process and explore options like loan modifications or short sales. Ultimately, the goal is to reduce the number of foreclosures in Massachusetts.
Key provisions
- Expands the scope of the Massachusetts Foreclosure Mediation Program.
- Provides additional funding for the program.
- Enhances the program’s outreach and education efforts.
- Streamlines the process for homeowners to access mediation services.
- Supports the development of resources for homeowners facing foreclosure.
- Promotes collaboration between lenders, homeowners, and mediators.
Who is affected
- Homeowners facing foreclosure
- Lenders
- Massachusetts residents
- Judiciary
- Massachusetts Foreclosure Mediation Program
Notable changes
- The bill focuses on strengthening an existing program rather than creating a new one.
- It emphasizes mediation as a key tool for resolving foreclosure disputes.
Bill text
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Sponsors
Official sponsors from legislative records.
2 on record
Primary sponsor
Cosponsor
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