BOSTON—Secretary of State William Galvin says he plans to submit a bill that would require Massachusetts mortgage lenders to get court approval before foreclosing on homes.
Galvin says he will revive a proposal state lawmakers rejected two years ago because of new questions about the validity of titles for foreclosed properties.
He tells The Boston Globe the issue is hindering the state's housing market, which is critical in helping the economy recover. He says he proposal will protect homeowners.
Massachusetts is one of 27 states that do not require foreclosures to be reviewed by a judge.
Lenders and some real estate lawyers say mandating judicial approvals would just create another level of bureaucracy that would slow the process and thwart the housing market's recovery.
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Information from: The Boston Globe, http://www.boston.com/globe
