Providence Approves 2 New Anti-Foreclosure Laws

This morning, Providence Mayor David Cicilline signed two city ordinances intended to mitigate the harm of rampant foreclosures facing city residents.  The ordinances require lenders – starting 30 days from now – to meet with homeowners before foreclosing on a property and also require them to give adequate notice before evicting tenants of landlords in foreclosure.  The city’s leverage is that the city will not file a deed of ownership for mortgage holders failing to comply with the requirements.  The Providence City Council approved the two ordinances last month, despite opposition from the local banking industry.

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