New Haven Ordinance Now Requires Registration W/In Seven Days Of Starting Foreclosure Action; Lenders To Be Clipped $250/Day For Non-Compliance

In New Haven, Connecticut, the New Haven Register reports:

• Banks and institutions foreclosing on local properties are now required to register with the city or they will soon face fines of up to $250 per day, under a recently passed ordinance. [...] approved the plan last week. The registration requirement went into effect immediately.(1)

For more, see Entities foreclosing on local properties must register first.

(1) Under the ordinance, all foreclosing entities must register with the Livable City Initiative within seven days after initiating foreclosure. The entity must provide a current phone number and mailing address (not a post office box) and certify the property has been inspected. If the property is abandoned, the entity must designate a local caretaker or property management company responsible for security and maintenance, and also provide a name, phone number and mailing address for the caretaker.