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.