SECTION 1.  Chapter 167E of the General Laws is hereby amended by adding the following section:-

Section 17.  Banks and financial institutions that foreclose on properties shall ensure the proper upkeep and maintenance of such properties.  Failure to maintain a property includes but is not limited to, permitting excessive foliage growth that diminishes the value of surrounding properties, failure to winterize a property, failing to take action to prevent trespassers or squatters from remaining on the property, failing to take action to prevent mosquito larva from growing in standing water, or failing to remove rubbish that may attract vermin.  Cities and towns shall have the option to impose civil fines of up to $1,000 per day per violation for failure to maintain the property.  Cities and towns that choose to impose fines and penalties pursuant to the bill to give notice of the claimed violation, including a description of conditions giving rise to the claim of violation, give the legal owner an opportunity to remedy the violation at least 14 days prior to imposing fines and penalties and allow the legal owner an opportunity to contest any fines and penalties imposed.