An Act to establish a moratorium on non-judicial residential foreclosure
By Mr. Collins, a petition (accompanied by bill, Senate, No. 952) of Nick Collins for legislation to establish a moratorium on non-judicial residential foreclosure. The Judiciary.
Bill Information
Bill Information
- Presenter:
- Nick Collins
Emergency Preamble
Whereas, The deferred operation of this act would tend to defeat its purpose, which is to facilitate forthwith the just, expeditious and final resolution of cases involving the recent crisis in foreclosures of mortgages on real property, including determinations of real estate title if necessary; whereas, Massachusetts non-judicial foreclosure laws have permitted the foreclosure of tens of thousands of owner-occupied homes where the foreclosing entity falsely purports to have authority and jurisdiction to foreclose, yet the homeowner has no day in court beforehand; and whereas the deferred operation of this act would tend to defeat its purpose, which echoes that of the 1692 Massachusetts Statute of Frauds, in a period of comparably high percentages of foreclosure, whose preamble set forth the mischief it sought to halt as: “For prevention of many fraudulent practices which are commonly endeavored to by upheld by perjury and subornation of perjury", therefore it is hereby declared to be an emergency law, necessary for the immediate preservation of the public convenience.
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