When used in this article, unless a contrary intention clearly appears, the following terms shall have the following meanings:
DAYSConsecutive calendar days.
FORECLOSINGThe process by which a property, placed as security for a real estate loan, is prepared for sale to satisfy the debt if the borrower defaults.
INITIATION OF THE FORECLOSURE PROCESSTaking any of the following actions:
[Amended 10-9-2012]
A. Taking possession of a residential, commercial, or industrial property pursuant to MGL c. 244, §
1;
B. Commencing a foreclosure action on a property in either the Land Court or Middlesex Superior Court.
LENDERAny lender, servicer, mortgagee, foreclosing entity, or creditor, including but not limited to service companies, lenders in a mortgage agreement and any agent, servant, or employee of the mortgagee, or any successor in interest and/or assignee of the mortgagee’s rights, interests, or obligations under the mortgage agreement.
[Amended 10-9-2012]
LOCALWithin 20 driving miles of the property in question.
OWNEREvery person, entity, service company, property manager or real estate broker who alone or severally with others has legal or equitable title to any property or has care, charge or control of any property in any capacity, including but not limited to agent, executor, executrix, administrator, administratix, trustee or guardian of the estate of the holder of legal title; or is a mortgagee in possession of any such property; or is an agent, trustee or other person appointed by the courts and vested with possession or control of any such property; or is an officer or trustee of the association of unit owners of a condominium. Each such person is bound to comply with the provisions of these minimum standards as if he/she were the owner. However, this article shall not apply to a condominium association created pursuant to MGL c.
183A to the extent that such association forecloses on or initiates the foreclosure process for unpaid assessments due or owing to the association. "Owner" also means every person who operates a rooming house or is a trustee who holds, owns or controls mortgage loans for mortgage-backed securities transactions and has initiated the foreclosure process.
PROPERTYAny real residential, commercial, or industrial property, or portion thereof, located in the City of Lowell, including buildings or structures situated on the property. For purposes of this article, "property" does not include property owned or subject to the control of the City or any of its governmental bodies.
SECURINGMeasures that assist in making the property inaccessible to unauthorized persons.
VACANTAny property not legally occupied in the preceding 90 days and not the subject of an active valid building permit.
[Amended 10-9-2012]