05/07/2012 Annual Town Meeting - Laserfiche WebLink

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Section 7. For the purpose of the Mediation Program established by the municipality, the municipality shall receive a copy of all notices filed pursuant to G.L. c. 244 §35A(g), (h), within ten (10) days of receipt by the Commissioner of the Division of Banks pursuant to G.L. c. 244, §35A(k) that relate to residential properties in the Town of Mashpee. The municipality shall thereafter promptly notify the creditor/mortgagee and the mortgagor/homeowner of their rights and responsibilities under this Act regarding mediation. It is the intent and purpose of this Act that a mediation conference take place within forty-five (45) days of the mortgagor/homeowner receiving notice of his or her right to cure as provided in G.L. c. 244, §35A (g) and (h). The municipality shall refer the matter for mediation to an approved Mediation Program Manager who shall have the responsibility of assigning a mediator and scheduling the parties to immediately commence mediation pursuant to this Act. The mediation shall proceed with the parties' good faith effort to negotiate and agree upon a commercially reasonable alternative to foreclosure as defined in G.L. c. 244, §35A(c). The mediation conference shall continue without delay until completion,but shall in no way constitute an extension of the foreclosure process,nor an extension of the mortgagor/homeowner's right to cure period. Notwithstanding the limitation in the previous sentence, the mediation conference may be extended by mutual agreement of the parties which the mediator shall document. Section 8. The mediation program established by this Act shall include, and be limited to, the following steps: (a) the parties shall participate in a mandatory loan/mortgage mediation conference at a location mutually convenient to the parties. All parties present at said mediation conference must have authority to enter into any agreements renegotiating the mortgage that is the subject of the foreclosure, or to otherwise resolve the pending foreclosure. (b) said mediation conference shall be scheduled at a time and place to be determined by the Mediation Program Manager, but not later that forty-five (45) days following the mortgagor/homeowner's receipt of his or her statutory notice of right to cure under G.L. c. 244, §35A (g) and (h). The parties will be noticed under the mediation program by certified and first class mail at the parties' last known address(es). if any, or if none, then to the address to which the tax collector last sent the tax bill for mortgaged premises. The notice shall contain the following declaration on the first page in Spanish, in any other language which the lender knows is the debtor's primary language, and any other language deemed appropriate by the Mediation Program Manager: "This is an important notice concerning your right to live in your home. Have it translated at once." (c) prior to the scheduled mediation conference, the mortgagor/homeowner shall be assigned a municipality-approved loan counselor. If the mortgagor/homeowner is already working with a municipality-approved loan counselor, no assignment is necessary. However, such loan counselor shall work with the mortgagor/homeowner during the mediation process in accordance with the provisions of this Act. (d) the mortgagor/homeowner shall cooperate in all respects with the requirements of Mediation Program Manager, providing all necessary financial and employment information. The mortgagor/homeowner shall complete any and all loan resolution proposals and 39