Boston City Council Considers Plan To Force Lenders To Rent Back Foreclosed Homes To Its Occupants

In Massachusetts, an editorial in the Boston Herald opines on a proposal being considered by the Boston city council:

• Boston city councilors are jabbing at a wasp’s nest of problems with a plan that would force lenders to rent foreclosed properties back to previous occupants. [...] The proposal, sponsored by six city councilors in a home-rule petition to the Legislature, would require that mortgage holders allow not just renters, but delinquent borrowers themselves, to stay in a home until it is sold to a third party - or until the measure expires in 2014.

For more, see Rental plan overreaches (when link expires, try here). equity skimming unwittingly digamma