Senator Sal Didomenico Co-sponsors Legislation Aimed at Reducing Foreclosures

January 19, 2012
By

Senator Sal DiDomenico submitted written testimony in support of several foreclosure related bills at a hearing held Wednesday before the Joint Committee on the Judiciary. These bills, which are aimed at reducing the amount of foreclosures in the Commonwealth, include S. 865, “An Act to establish a foreclosure mediation program,” S. 673, “An Act to establish mandatory foreclosure mediation with judicial review,” and S. 684, “An Act to enable judicial clarification of ownership in evictions.”

“As a Senator representing a district with a high rate of foreclosures, I fully understand the importance of these pieces of legislation,” said Senator DiDomenico. “Foreclosures have an adverse impact on families, communities and the state economy and, for these reasons, it is important that we work together to prevent unnecessary evictions.  In these uncertain economic times, ensuring Massachusetts residents are allowed to keep their homes and keeping our neighborhoods stable should be a top priority.”

These bills co-sponsored by the Senator would give borrowers the option of participating in mediation before foreclosure can begin, as well as access to judicial review if a mutually acceptable mediation agreement cannot be reached by the parties involved. By utilizing third party mediation, satisfactory resolutions can be reached so that more residents can keep their homes.

These bills are currently pending before the Joint Committee on the Judiciary, awaiting the Committee’s final report.