Secretary of State Bill Galvin plans to submit a bill that would fundamentally change foreclosures in Massachusetts. Right now, court approval is not required for foreclosures to proceed, but Sec. Galvin plans to change that. Currently 27 states do not have court-based procedures. Talk of changing the Mass. foreclosure process has been mentioned on Beacon Hill before, but no doubt the “foreclosuregate” crisis sped up the urgency of the issue.
According to reports, a judicial-based process could slow down foreclosures in Mass. significantly.