Secretary of State William Galvin said he plans to submit a bill that would require Massachusetts mortgage lenders to get court approval before foreclosing on homes.
Galvin said he will revive a proposal state lawmakers rejected two years ago because of new questions about the validity of titles for foreclosed properties.
He told The Boston Globe the issue is hindering the state’s housing market, which is critical in helping the economy recover. He said the proposal will protect homeowners.
Massachusetts is one of 27 states that do not require foreclosures to be reviewed by a judge.
Lenders and some real estate lawyers said mandating judicial approvals would just create another level of bureaucracy that would slow the process and thwart the housing market’s recovery.
So far this year, lenders in the Bay State have filed almost 23,000 petitions for foreclose, according to The Warren Group, publisher of Banker & Tradesman. More than 11,300 homeowners have lost their homes to foreclosure.





