Massachusetts Is First State To Impose Foreclosure Moratorium

Massachusetts has become the first state in the country to declare a moratorium on foreclosures stemming from predatory lending according to Yahoo News.

"Homeowners will now be able to submit a complaint to the Division of Banking.
The division will then call the lender and ask them not to foreclose.
The move comes after dozens of homeowners marched on the State House last week, demanding a meeting with Gov. Deval Patrick."

"The state secured 60-to-90-day freezes on foreclosure for most of the protesters. Homeowners having trouble will also be provided with housing counselors."

"If you need help, you can contact Neighborhood Assistance Corporation of America at (617) 250-6230. You can also find more information on their website here."

Is this a sign of things to come for the rest of the country? Let's hope so.

For now make sure to check out this valuable non-profit partner to see if they can help you.

-Bill Burniece