Springfield Passes Tough Anti-Foreclosure Legislation
SPRINGFIELD, Mass. (WGGB)– The Springfield City Council takes strong action to reduce the number of foreclosures in the city.
On Monday night, the council passed a measure which supporters say gives Springfield the toughest anti-foreclosure legislation in Massachusetts.
The strong anti-foreclosure vote by the Springfield City Council had supporters like Destry Sibley of the “No One Leaves” coalition celebrating. “I think it’s a great vote, I think it’s a huge success for us and I think it’s going to be a really important step in the anti-foreclosure struggle,” says Sibley.
The two ordinances that were passed increase requirements for foreclosing institutions.
The first requires that foreclosing banks pay a $10,000 cash bond to assist the city in securing and maintaining vacant properties. “This is way to level the balance sheets and essentially making the banks pay for the costs they’re incurring on the city,” says Destry Sibley.
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Wait i vent, let me make meself a wittle clear,,do i think they wouldnt throw me under the bus? No no no i know they would prblem is they cant see the invisible tripping rod i got 4 them:) i thin they would shit on their mother!
Right Maggie, the truth, is the indivisible tripping rod…Without the we have nothing…and they know that…they will destroy you with what you do not know………………That is why there is Foreclosuregate…………………….. covering up the truth to hide the lies with MASS DECEPTION…………Lies like, People bought homes they could not afford…….. The world will perish if the crooks who set us up to fail and robbed us don’t get bailed out……… America is broke…….the selling of unsecure notes is not fraud, that is what they did!!!!!!………. somebody is owed this money ………. the banks don’t have to publicly assign and record….The democrats did this, no, the repubicans did this…….and on and on and on….9/11 was another tool they used ……to divert attention from the terrorists hiding from within and all of their evil NWO plans for our demise as a free nation….
ooops, i meant to say, INVISIBLE TRIPPING ROD……………….
Ojos que no ven,,,,,,,,,,,,,,corazon que no llora!
While what Springfield is trying to do may feel good, the awful truth is that voluntary arbitration by the mortgage holders/servicers just does not work and there can be no help for homeowners until (1) Massachusetts law requires notice to the homeowner and an opportunity to be heard before a Court (Judicial Foreclosure) and (2) the Bankruptcy Code is amended to once again allow the cradown of a residential first mortgage.
The public should not tolerate greater rights being extended to corporstions than to homeowners, i.e. the right to notice and a hearing before repossession/foreclosure and the right to cram-down a secured debt. It is preposturous that the mortgage bankers and their allies are able to forsytall the legislative reform that could have avoid this foreclosure crisis and that even now would aleviate the continuing crisis….and all in the best interests of both the homeowner and tha banks.
Let us stop trying to placate the holders of the mortgages aqnd demand real reform that will bring some sence of justice to this troubling situation.
/s/ Eugene B. Berma, J.D.
THESE MORTGAGES ARE _UNSECURED DEBTS_………………………THE LAW REQUIRES THE OWNER OF THE MORTGAGE AND THE NOTE, TO SECURE THE COLLATERAL LIEN BY PUBLICLY ASSIGNING AND RECORDING THEIR LIEN TO OUR DEED AT THE RECORDER OF DEEDS……….THEY DID NOT…..THAT IS THE ORIGINATION FRAUD, SIR………………..THAT CANNOT BE PERFECTED AT THIS LATE DATE……………………..THEY ALSO SOLD UNSECURE NOTES AS SECURITY INSTRUMENTS AND COMMITTED MASSIVE SECURITIES FRAUD…………………….DO YOUR HOMEWORK!!!!!!!!!!!!!!!!!!!!!!!!!!!!
I DREAM……………U DO HOMEWORK,,,,,,,,,,,,I be honet i never liked homework!
Come on Maggie, I think you know people can’t get to the truth if they don’t do their homework. Foreclosuregate is the weapon they are using to cover up the truth…..The politicians deceived the Tea Party and now the Tea Party is being blamed for the U.S. downgrade by the S&P…..DO NOT TRUST, VERIFY, IN OTHER WORDS DO YOUR HOMEWORK….IF YOU DON’T THEY WILL SCREW YOU AND THROW YOU UNDER THE BUS….
One must understand the true reason for the foreclosure of these homes and until that is addressed, there simply is not going to be an opportunity to mediate a reasonable workout with the bank. I havve worked on hundreds of these cases and have won most of them as a homeowner’s advocate and that has only been because I have had about 40 years in the mortgage industry, more specifically the loan servicing technique that is needed to assure a satisfactory result – that of keeping the homeowner in his home while the current circumstances prevailing with the banks, the investors and their record keeping, together with standing issues all come into play. To simply say that each foreclosure must be mediated is simply not going to work because of these underlying issues.
Your agency was correct to require the mediation and for that, I think it is a move in the right direction and meets the foreclosure at the 1/2 way mark. But a comprehensive review of the individual’s situation, coupled with that of the bank’s existing problems associated with their record keeping, etc., must be addressed and you know what, the mediation can work because bank’s will not be able to rubber stamp the loan for foreclosure without filing an affidavit that supports the bank’s decision. I want both parties to win at this time because the whole foreclosure situation with the banks is out of control and on one has a plan that can resolve it. I had one in 2006-07 but could not get anyone to listen. Had we put it up with proper scrutiinezation by parties such as myself that had been working in the trenches, understood the effects this would have on loans that had been securitized, we would have had a very different outcome for all: loans would have continued to perform with no harm to individua’s credit rating thereby making a refinance possible, kept the mortgage industry work force in place (no loss of jobs ) and no loss of jobs in the retail business, no depreciation of property values and a great deal of personal wealth put up by portfolio investors (401’s etc.)and writing down of loan values which has created total chaos.
Most importantly, foreclosure inventory would have been contained, values remained longer than what we h ad experienced which allowed for refinance capabilities and without the devastating trickle down effect of the foreclosure path, the plan would have bought us some time to resolve all of the issues now facing the industry, the people and our economy. We know there are tremendous legal issues as a result of the robo signing, fraud on the courts (which has infected our justice system) which is deplorable for the American people and our reputation abroad as we have now shown the rest of the world we don’t mind corrupting the people so that and I said this a million times “in the hands of a few go the rewards of many” and I am not just talking about money considerations. I am talking about the control of this nation by a few who would be able to control those key areas of what America was founded on: Justice and liberty for all, a strong economy, the ailitity to help other nations as is required, the on going building of strong communities in which to grow our families. Without the rule of law, I don’t even want to go down that path.
Yes Massachusetts, you have put your state on the right path, but you must find knowledgeable people that know what is necessary to make your mediation process a success. Thank you.
Kudos to you for your succinct and spot on writing on this issue. It is so important that we do not add to the cadres of homeless people by needlessly (illegally) evicting people from their homes, putting holes in neighborhoods etc etc. My contracting business did do or rather – {did} older home renovations in Somerville and surrounding areas, rebuilding 2 and 3 families into energy efficient, fire sprinkler dwellings that people were proud to own – but now no longer as the banks killed us with bad loan practices and not loaning to qualified buyers of our properties after the 2008 fiasco. Sad……
Anyway good work, We now host biweekly meetings as the Foreclosure Defense League and have another meeting this Saturday @ 15 Crescsnt St. Newton. Would love for you to come and speak and or be part of us if you have the time.
David and John
See the Bloomberg interview with Chris Whalen entitled “Foreclosure is a Cancer.” The states will go bankrupt if fraudclosures continue because of huge loss of tax revenue…
https://4closurefraud.org/2010/10/20/foreclosuregate-video-bloomberg-interview-of-chris-whalen-foreclosure-issue-is-a-cancer/
masshole?