If they pay, they stay
Hub bill would ban foreclosure evictions
Warning that America is experiencing a “housing emergency,” six Boston city councilors want to force lenders who foreclose on Hub properties to rent seized houses and apartments back to occupants.
“The United States is facing a national housing emergency (and) the City of Boston is facing a serious public emergency in regards to foreclosures,” Councilors Michael Flaherty, Steve Murphy, Michael Ross, Chuck Turner, Charles Yancey and Sam Yoon write in a new home-rule petition.
The proposal would order lenders to lease foreclosed properties back to ex-owners or tenants at market rates until either third parties buy the homes or the measure expires in 2014. Violators would face fines of at least $10,000...