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Advocates urge state to require pre-foreclosure mediation under S.765/H.1090
Summary
The Joint Committee on Financial Services heard more than a dozen witnesses on a bill to create a statewide foreclosure prevention program, S.765 (Senate)/H.1090 (House), that would require mortgage servicers to participate in pre-foreclosure mediation with homeowners.
The Joint Committee on Financial Services heard more than a dozen witnesses on a bill to create a statewide foreclosure prevention program, S.765 (Senate)/H.1090 (House), that would require mortgage servicers to participate in pre-foreclosure mediation with homeowners.
Derwin Gordon, a lifelong Dorchester resident, told the committee that the proposal "would make it possible for homeowners like me and my family to stay in our homes." Gordon described months of missed payments after his stepfather fell ill and a lender-initiated auction despite the mortgage being nearly paid off.
Katie McCann, community organizer at City Life/Vida Urbana, said her group…
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