An Act establishing a Massachusetts foreclosure prevention program

This bill creates a new Massachusetts Foreclosure Prevention Program designed to help homeowners facing foreclosure by requiring lenders and borrowers to attend supervised mediation conferences. The program applies to loans secured by primary residences, including small rental properties, condominiums, and cooperatives, but excludes government tax or judgment liens. During these conferences, a neutral mediator facilitates a good faith effort between the creditor and borrower to explore sustainable alternatives to foreclosure, such as loan modifications or repayment plans. A key provision mandates that the lender's representative at the conference cannot be the same person representing the lender in any subsequent court foreclosure proceedings. This legislative change aims to establish a structured, non-court process for resolving mortgage disputes before properties are lost.