HOUSE DOCKET, NO. 4845        FILED ON: 6/8/2016

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No.         

 

The Commonwealth of Massachusetts

_________________

PRESENTED BY:

Carlos Gonzalez

_________________

To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General
Court assembled:

The undersigned legislators and/or citizens respectfully petition for the adoption of the accompanying bill:

An Act to require banks, lending institutions, mortgage companies or sub lenders  to file with the registry of deeds in each county within thirty days of mortgage sales and/or foreclosures of property.

_______________

PETITION OF:

 

Name:

District/Address:

Date Added:

Carlos Gonzalez

10th Hampden

6/8/2016

Gailanne M. Cariddi

1st Berkshire

6/15/2016

Tackey Chan

2nd Norfolk

6/20/2019

Carole A. Fiola

6th Bristol

6/15/2016

Frank A. Moran

17th Essex

6/15/2016

Denise Provost

27th Middlesex

6/16/2016

Jose F. Tosado

9th Hampden

6/15/2016

Timothy R. Whelan

1st Barnstable

6/16/2016


HOUSE DOCKET, NO. 4845        FILED ON: 6/8/2016

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No.         

By Mr. Gonzalez of Springfield, a petition (subject to Joint Rule 12) of Carlos González and others relative to lending institutions filing with the registry of deeds.  House Rules.

 

The Commonwealth of Massachusetts

 

_______________

In the One Hundred and Eighty-Ninth General Court
(2015-2016)

_______________

 

An Act to require banks, lending institutions, mortgage companies or sub lenders  to file with the registry of deeds in each county within thirty days of mortgage sales and/or foreclosures of property.

 

Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
 

An Act to require Banks, Lending institutions, mortgage companies or sub lenders to file with the registry of deeds in each county within thirty days of mortgage sales and/or foreclosures of property

The legislation seeks to avoid allowing the houses to “become so dilapidated, deteriorated, abandoned and/or decayed so as to present a danger to the health, safety and welfare of the public.

The mortgage meltdown and many foreclosed properties are having a ripple effect in low income and residential neighborhoods caused by foreclosures and the lack of mortgage holders and banks not filing with the registry of deeds in order not to identify themselves as the responsible party when they have foreclosed or sold the mortgage of the property.

The homes are abandoned, neighborhood property values are falling and blight is spreading. Already cash strapped cities are left to address the many resident complaints with little recourse if they are not able to locate legal ownership of mortgage owners who have either sold of foreclosed on property owners.

This is creating a huge economic crisis on our local municipalities.  Local and State Housing code violations go unresolved and fines uncollected because the banks are failing to record with County registry of deeds transactions. 

Abandon properties that go unrepaired will potentially be required for demolition, it is estimated demolition costs are $16,000 per property and maybe greater than $40,000 if fire occurs.