MA House passes home equity legislation

The Massachusetts House of Representatives unanimously passed legislation to ban municipalities and private companies from taking the entire equity of a home in the event of a tax lien foreclosure.
 
Under the House bill, municipalities and private companies would only be allowed to take what is owed to the municipality from the tax lien, not the entire value of the home. The bill, An Act relative to municipal tax lien procedures and protections for property owners in the Commonwealth, also aligns current Massachusetts statute with recent court decisions, including the U.S. Supreme Court finding on a Minnesota tax lien takings law.

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