Senate Bill Seeks To Clear Titles Of Foreclosed Homes In Massachusetts
BOSTON (AP) — The state Senate has approved a measure that supporters say will help clear up the titles of previously foreclosed homes in Massachusetts.
The legislation that passed Thursday is in response to recent court rulings and would require lawsuits challenging the validity of foreclosure proceedings to be filed in three years.
Backers say it will help purchasers of foreclosed homes as third-party buyers, but ran into problems selling or refinancing the properties years later because of uncertainty surrounding the titles.
Critics of the legislation argue it will unfairly limit the legal choices of those who believe they lost their homes to illegal foreclosure.
The bill now goes to the House.
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