Tagged: foreclosure

A New York state Senator will be in Poughkeepsie today to talk about his good neighbor bill.

In the first quarter of 2013, the foreclosure crisis affecting Western Massachusetts and the Berkshires appears to be worsening despite national trends of an improving housing market.

As a result of a $25 billion national settle with major lenders over their foreclosure practices, the Massachusetts Attorney General’s Office over the past year has partnered with community organizations to offer assistance to those who face foreclosure in a campaign called HomeCorps.

City councilors in Springfield Massachusetts have voted to reject a settlement with several banks over a foreclosure ordinance.

The vote means the city can implement the ordinance even if the banks continue to challenge its legality in the federal appeals court.  The ordinance, passed in 2011, and upheld by a federal judge last year requires banks to post a$10,000 bond to maintain and secure vacant foreclosed property.  City councilor Melvin Edwards said city taxpayers will no longer have to pay to eradicate the blight that results from foreclosure.

Community activists in several US cities are calling for changes in housing policies. They point to a shortage of affordable housing in the midst of a surplus of vacant, bank-foreclosed properties. One of  the cities where anti-poverty activists point to what they see as a housing crisis is Springfield Massachusetts.