Mayor James J. Fiorentini > Press Release

Press release:

MAYOR INTRODUCES ORDINANCE TO REGULATE FORECLOSED PROPERTY

Faced with a rising number of foreclosures nationwide and statewide, Mayor James J. Fiorentini today introduced a new ordinance to allow the City to better regulate and control foreclosed properties.

Under the Mayor’s proposed ordinance, banks and mortgage companies which take over foreclosed properties would be required to register them with City Hall and allow for periodic inspections.  The City would regularly inspect the property to make sure that any properties which were abandoned were properly boarded and safe from intrusion.  The law, which is modeled after similar ordinances in Fall River and Methuen, would allow the Community Development Block Grant Office to board up abandoned properties and bill the cost to the owner.

Mayor Fiorentini said that the law was necessary in order to prevent abandoned and foreclosed properties from becoming a blight on the community:

“We cannot allow mortgage companies to simply abandon property in our community.  One abandoned or blighted property can bring down an entire community.

“This law is another tool in our arsenal.  It requires the owners of foreclosed properties to register them with the City so that we are able to send out our inspectors and make certain the property is safe and secure.”