Governor Carcieri quietly vetoed legislation passed by the legislature in its whirlwind two-day session last month that would have extended the safeguard provisions enacted in the City of Providence to struggling homeowners and renters statewide. (more...)
The Providence ordinance calls for a slowdown in the foreclosure process to give homeowners more time in avoiding - or hopefully preventing - foreclosure. There's a lot of evidence out there right now to demonstrate that putting people out of their homes and apartments is detrimental in a lot of ways.
Carcieri reasoned that the legislation was injurious to the other side of the issue: banks, finance companies and landlords who have a contractual right to have their clients pay their monthly obligations. That's a defensible position.
The General Assembly can override the Governor's veto when it returns to session in January. But will it do so? And should it do so?