At tonight’s meeting of the Providence City Council, legislation sponsored by Councilmen Kevin Jackson (Ward 3) and Luis Aponte (Ward 10) designed to help keep Providence families in their homes and avoid foreclosures.

“Over the past three years, Providence has seen foreclosures increase at an alarming rate,” said Jackson. “In 2006, just 300 foreclosures were reported in our city. Last year, there were four times that many. It is imperative that we take action to stem this tide.”

The first of the two ordinances requires that mortgage lenders meet with homeowners and a counselor from a HUD-approved independent agency. At this conciliation conference, the loan/mortgage counselor will help the two parties determine their eligibility for any federal, state, and local programs and aid them in renegotiating the loan to enable the homeowners to remain in their home.

The second ordinance calls for proper notification to any tenants living in a property that goes into foreclosure and requires successor owner to continue to provide the same essential services, such as heating, electricity, and water, that the previous landlord provided the tenants.

“Often lost in the discussion of foreclosures is the impact they have on renters,” said Aponte. “Too often, renters who have never missed a payment, who did not take on loans they could not afford – people who have done everything right – are left to suffer. These measures provide much needed relief for both homeowners and renters who are suffering in the worst economic crises since the Great Depression.”

The councilmen both stressed the importance of this legislation in light of the General Assembly’s failure to enact its own legislation protecting homeowners and renters. “Originally, we were told that cities and towns did not need to take action on these fronts because the State would,” said Aponte. “However, it is clear to us that we have an obligation to lead as both the House and the Senate have gone into recess for the summer leaving proposed legislation to languish.”

“I’m very happy that the City Council is taking these steps,” added Jackson, “not just because of the State’s lack of action, but because it shows once again how pro-active the Council is when it comes to protecting the people of Providence. Our city is now at the forefront when it comes to tackling this national problem.”

The ordinances will be come to a vote at tonight’s City Council meeting at 7 pm in the Council Chambers on the Third Floor of City Hall.