Heeding calls from federal and state courts, the Massachusetts Senate has agreed to legislation aimed at preventing the continuation of so-called home equity theft.
The New Bedford Democrat has sponsored similar legislation in multiple sessions. He redrafted this term's proposal before the unanimously adopted it, advancing an equity theft measure that now invites a response from the House. "It was a long process," Comerford said of their ordeal."And they prevailed. But had they failed, they would have lost $275,000 in home equity, their sweat, their pain, their joy, the things that they were saving for."In Massachusetts, a Hampden County Superior Court judge then ruled on April 18 that takings of excess equity under state law, known as Chapter 60, violate Article 10 of the Massachusetts Constitution's Declaration of Rights and the Fifth Amendment to the U.
Sen. Susan Moran co-chairs the Joint Revenue Committee and supported the Montigny amendment last week. The Massachusetts Municipal Association, which lobbies for town and city governments, did not directly address the Senate vote in a statement on Tuesday, focusing on the Revenue Committee's bill and looking ahead to"working with House leaders."
The Revenue Committee's equity theft bill was sent May 13 to the House Ways and Means Committee, a panel that can either be a direct launchpad to the chamber floor or a final resting place for bills that expire at session's end.