Six Mass. banks fight foreclosure ordinances

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SPRINGFIELD, Mass. (AP) – A federal judge on Tuesday upheld two Springfield anti-foreclosure ordinances, ruling against six banks that sought to overturn the regulations. Six Mass. banks fight foreclosure ordinances United States Court of Appeals. For the First Circuit.

Guess how many bank CEOs made Glassdoor’s list of the highest rated ceos? 3 reasons to support 3% down payments Six Mass. banks fight foreclosure ordinances The Mass. Alliance Against Predatory Lending (MAAPL) is a coalition of approximately 70 housing counseling agencies, legal services groups, social service agencies, and community-based.

Six western Massachusetts banks, with Easthampton Savings Bank as the lead plaintiff, challenged the ordinances. A U.S. District court judge upheld the ordinances. However, on appeal, the U.S. Court of Appeals issued a stay preventing Springfield from enforcing them.

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"The ordinances are invalid as they are preempted in whole or in part by Massachusetts foreclosure statutes. The institutions suing are Eastern Bank, the largest locally owned Massachusetts bank,

"This is a serious problem in Woodbury, and we’re trying to hold people accountable," said Councilman Dave Swanson, after the ordinance was introduced during last Tuesday’s city council meeting. "This.

The Massachusetts Supreme Judicial Court ("SJC") recently issued another decision affecting the foreclosure of mortgages in Massachusetts. In Easthampton Savings Bank v. City of Springfield, No. 11612, slip op. (mass. dec. 19, 2014), the SJC struck down two mortgage ordinances adopted by the City of Springfield ("City") in 2011, holding.

foreclosure ordinances promise to help to reverse this trend. “The Springfield City Council has given residents real, tangible tools to fight back against the damage banks have done to our city and our country as a whole,” says Sellou Diaite of Springfield No One Leaves .

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FORECLOSURE Foreclosure does not mean the bank can evict you The Massachusetts Just Cause Eviction Law was passed in August 2010. It protects tenants in bank-owned foreclosed properties. In most cases, a bank cannot evict you or pressure you to leave unless it has “just cause.” Published by Massachusetts Law Reform Institute October 2010

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BOSTON – A group of Western Massachusetts banks argued before the state’s highest court on Thursday that the city of Springfield’s anti-foreclosure ordinances should be overturned.

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