Establishes a Massachusetts foreclosure prevention program with supervised conferences to avoid foreclosure.

The bill establishes a Massachusetts foreclosure prevention program. It mandates supervised conferences between creditors and borrowers to explore options to retain homes. The program requires creditors to make good-faith efforts to reach agreements. Borrowers can participate if they receive a notice of right to cure or are referred by a judge. The program includes a Foreclosure Prevention Program Administrator to oversee the process. If a borrower declines to participate or fails to appear, foreclosure can proceed.

Establishes a Massachusetts foreclosure prevention program with supervised conferences to avoid foreclosure.

The bill establishes a Massachusetts foreclosure prevention program. It mandates supervised conferences between creditors and borrowers to explore options to retain homes. The program requires creditors to make good-faith efforts to reach agreements. Borrowers can participate if they receive a notice of right to cure or are referred by a judge. The program includes a Foreclosure Prevention Program Administrator to oversee the process. If a borrower declines to participate or fails to appear, foreclosure can proceed.