New England Conference of the NAACP President Juan Cofield, Boston City Councilor Tito Jackson and prominent lawyer Charles Ogletree are among a group of community leaders that are asking Gov. Deval Patrick to veto or amend a foreclosure bill on his desk that they say would "codify illegal, racially discriminatory lending practices which differentially harmed communities of color."

The bill would limit the time that could pass before people who lost homes in foreclosure could seek to regain the title. Supporters of the bill, including real estate lawyers, say people who buy foreclosed properties where the paperwork was improperly handled fall into a legal limbo where they are unable to sell their homes or refinance. Opponents say the bill (S 1987) would allow improprieties by banks to stand and prevent people from reversing illegal foreclosures.

"The finance industry must not be absolved of accountability for their unjust practices," said the Aug. 7 letter.

The House had adopted a Rep. Denise Provost amendment that lengthened the period of time when a title could be in dispute, but both branches stripped that before passing the bill in the finals minutes of the last formal session of the year. Activist Grace Ross said Patrick has taken an interest in the criticisms of the bill, and called a lawyer at Greater Boston Legal Services to talk about it.

If Patrick vetoed the bill, the House and Senate would need to take the rare step of calling members back to override the action. If Patrick amends the bill diligent opponents could show up at the lightly attended informal sessions to block attempts to pass versions they dislike. Patrick has until Monday to take action.

Group Urges Patrick To Change Or Veto Foreclosure Bill

by Banker & Tradesman time to read: 1 min
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