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springfield approves anti-foreclosure laws


Posted on Aug 23, 2011

The Boston Herald Reports:

Anti-foreclosure advocates are declaring Springfield's approval of new foreclosure laws the toughest in the country. Once the laws are signed by the mayor and pending the survival of legal challenges, the new ordinances would require mortgage lenders to engage in mediation with homeowners facing foreclosure. Failure to comply will result in a $300 per day fine. 

Advocates claim that the new ordinances will help more homeowners stay in their homes and protect them from predatory lenders.  

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