According to the Globe:
The Patrick administration is considering a plan that would make mortgage lenders pay moving expenses as well as the first and last months’ rent of homeowners who lose their homes to foreclosure.
The proposal is part of foreclosure prevention initiative administration officials will present today at a meeting with some of the state’s biggest mortgage lenders. The plan would make lenders that foreclose on homeowners pay $5,000 for the relocation and administrative costs that nonprofit agencies would incur in finding them a new home, according to a draft obtained by the Globe.
This is the equivalent of the bank repossessing your car, but then being forced to give you a T-pass in return, or worse, having to drive you to and from work for the next couple of months!
I’m going to assume that more-reasonable people are going to get involved to quash this proposal.
Foreclosure plan would make lenders pay – By Robert Gavin, The Boston Globe
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