MA bans foreclosures

[ShebaPoe]

State of Massachusetts imposes foreclosure moratorium. Of course, banks can keep booking interest payments or capitalizing interest, I'm sure.

It would be nice to see some state pension fund money invested in the subprime sector. A$$holes.




MA Declares Moratorium On Foreclosures
Move Against Predatory Lenders Is Unprecedented

BOSTON -- Massachusetts has become the first state in the country to declare a moratorium on foreclosures stemming from predatory lending.

Homeowners will now be able to submit a complaint to the Division of Banking.

The division will then call the lender and ask them not to forclose.

The move comes after dozens of homeowners marched on the State House last week, demanding a meeting with Gov. Deval Patrick.

The state secured 60-to-90-day freezes on foreclosure for most of the protesters.

Homeowners having trouble will also be provided with housing counselors.

If you need help, you can contact Neighborhood Assistance Corporation of America at (617) 250-6230. You can also find more information on their website: Neighborhood Assistance Corporation of America

Source:
http://www.thebostonchannel.com/news...76/detail.html