There is a bill pending in the Massachusetts Legislature called H-04083 that is designed to provide more requirements that lenders work with borrowers to provide real loan modifications before they can commence foreclosure and to hold lenders accountable where they unlawfully foreclose. Unfortunately, the bill suffers from some substantial weaknesses which I have tried to remedy with edits and amendments.
The bill is scheduled to be voted on – THIS WEDNESDAY MAY 16, 2012 – so your immediately action is needed.
I would ask that you take the time to immediately contact your state representative and state senator, ask them to stand up for the homeowners and borrowers of the commonwealth and request that they amend H-04083 to include these changes and amendments. You can email the edits and comments directly to your state rep and state senator.
Working with island attorney Jamie Ranney, state Representative Tim Madden has sponsored a bill that would address a number of controversial issues surrounding contested foreclosures cases, including the valid recording of assignments of securitized loans, so-called “robo-signing” by lenders and their agents, and perceived abuses by Mortgage Electronic Registration System, or MERS.
This is a very important bill to start cleaning up the mess created by the banks in the foreclosure crisis that is sweeping MA and the rest of the country.
Highlights include the elimination of MERS’s ability to “hide” transactions and avoid recording fees, defining what a mortgagee is in MA, requiring that all notary acknowledgements be completed in accordance with the requirements for notaries laid down by the Governor and others.
PLEASE forward this to as many people as you know that can contact their MA state Senator AND Rep. and send in written support for it.
Recent Comments