Spfld. proposes anti-foreclosure rule

SPRINGFIELD, Mass. (WWLP) - Springfield Municipal leaders are taking steps to manage the foreclosure crisis and keep people in their homes.

Close to one hundred people rallied on city hall steps before Monday night's city council meeting.

They're supporting proposed ordinances that would have banks post a 10-thosuand dollar bond to help the city maintain empty foreclosed properties.

It would also create a city-run mediation program to negotiate with banks.

Malcolm Chu of No One Leaves Coalition said, "This ordinance will require that they play a role in helping to solve this crisis here in Springfield."

Amaad Rivera of Springfield City Council, Ward 6, said, "This will become precedent setting legislation that will actually make Springfield known for its pro-active stance in dealing with its problems that federal government hasn't been able to tackle."

Springfield's proposed anti-foreclosure ordinance still needs to pass two more steps before final approval by the city council.