BOSTON – Senator John Kerry will join State Representatives Barry Feingold, David Torrisi and William Lantigua, State Senator Susan Tucker at a Foreclosure Prevention Strategy Session in Lawrence on Monday. Lawrence Housing Manager Andrea Ryan will also be present, along with representatives from Lawrence Community Works.

The meeting aims to develop a game plan in how to address Lawrence’s growing foreclosure problem and how to help residents avoid losing their homes.

This year Massachusetts is again on pace to have a record number of foreclosures. A new study estimates foreclosures will increase by at least 15-25% about the history highs reached last year. With nearly 700 foreclosure filings in 2007, Lawrence ranks sixth in the state with the number of foreclosures. In 2007, mortgage companies foreclosed on more than 7,500 homes in Massachusetts, almost nine times as many foreclosures as 2005 and almost three times the number recorded in 2006.

Kerry has introduced legislation to stop the spread of foreclosures by providing options to obtain safe, fair mortgages. Under current law, state and local governments may issue bonds to finance new mortgage loans to first-time homebuyers. The Kerry-Smith provision would temporarily expand the use of this program to include refinancing of subprime loans.

WHO: Senator John Kerry
State Representative Barry Feingold
State Representative David Torrisi
State Representative William Lantigua
State Senator Susan Tucker

WHAT: Lawrence Foreclosure Prevention Workshop

WHEN: Monday, March 31, 2008
1:30pm


WHERE: Lawrence Community Works
168 Newbury Street
Lawrence 

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