Senate OKs bill to overhaul foreclosure laws

Photo Credit: Thinkstock
Photo Credit: Thinkstock

The Massachusetts Senate has unanimously approved a bill that would restore the titles of foreclosed properties to homeowners.

Senate leaders said the measure was approved Thursday after thousands of foreclosure sales in Massachusetts were determined to be void as the result of recent state Supreme Judicial Court decisions.

Senate President Therese Murray said some residents are without a clear title to their home because of potential procedural errors that took place years   ago.

The Plymouth Democrat said restoring the titles will help support a healthy real estate market.

Attorney General Martha Coakley said the bill is intended to provide predictability for property owners and additional consumer protections to those whose property may have been wrongfully foreclosed on.

The bill now heads to the House.

 

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