Five Questions With: Michael Morin

Rep. Michael Morin, D-Woonsocket, the House Deputy Majority Leader, is one of the authors of recently approved legislation that tightens the process for filing of foreclosure deeds.

For various reasons, when a property is foreclosed, the lender does not always promptly file the deed, which leaves communities unable to send outstanding tax bills or otherwise identify the current owner. The amendment to existing law, co-sponsored by Sen. Ana B. Quezada, D-Providence, requires the filing of a deed within 45 days or the imposition of fines. 

PBN: What is the current status of the bill, given the budget impasse?

MORIN: It’s been approved.

- Advertisement -

PBN: What problem does this try to correct?

MORIN: Currently, there’s a $40-a-month fine to the lender for not recording the foreclosure deed within 45 days of the foreclosure. What happens, particularly in Woonsocket, which I represent, is the city is having an extremely hard time locating the current owner of record. We’ve had properties that have gone more than two years, it took them that long [to file the foreclosure deed].

PBN: How much of a problem is this in Woonsocket?

MORIN: Because of the economic conditions in Woonsocket, the city has a large number of vacant properties and abandoned properties. It’s unfair for the homeowners who live next to these properties.

PBN: How does the legislation address noncompliance?

MORIN: The fine went from $40 a month to $300 a month, with a cap of $2,000.

PBN: Does the bill also narrow the window for filing the foreclosure deed?

MORIN: I wanted to. Financial institutions [opposed that]. They felt as if the fine was enough.

Mary MacDonald is a PBN staff writer. Email her at MacDonald@PBN.com, or you can follow her on Twitter @MaryF_MacDonald.