Massachusetts RealEstateRama

BOSTON, MA - July 17, 2009 - (RealEstateRama) -- Senators John Kerry and Edward Kennedy today announced that Massachusetts will receive $15,201,451 in U.S. Department of Housing and Urban Development funding through the American Recovery and Reinvestment Act.

July 15, 2009 - (RealEstateRama) — At a press conference yesterday at the State House, MAR President Gary Rogers joined Governor Patrick, Lt. Governor Murray and MassHousing Chairman Dirrane announce Masshousing’s new loan program that allows first-time home buyers to “monetize” the $8,000 Federal homebuyer tax credit for downpayments and closing costs.

BOSTON, MA - July 10, 2009 - (RealEstateRama) — Senators John Kerry and Edward Kennedy today announced that Massachusetts Department of Housing and Community Development would receive $50,814,102.00 from U.S. Treasury Department as part of the American Recovery and Reinvestment Act

Demolition and renovation of severely distressed housing will result in 109 units of quality rental housing, of which 88 units will be for low-income families. BOSTON, MA - June 25, 2009 - (RealEstateRama) — MassHousing announced today that it will loan up to $1 million to WinnDevelopment of Boston for the acquisition and renovation of Longhill Gardens in Springfield, which will result in 109 renovated units of quality rental housing.

June 24, 2009 - (RealEstateRama) — Strategy sets ambitious goal to reduce City’s greenhouse gas emissions by 40,000 metric tons annually and create 100 green-collar jobs In the third of four major announcements this week to advance the City’s green agenda, Mayor Thomas M. Menino today launched the $200,000 Renew Boston Residential Energy Efficiency Pilot Program in partnership with Next Step Living, Inc., a new Boston-based company that specializes in residential energy efficiency services to lower energy costs for homeowners and green the environment. Joined by Jim Hunt, Chief of Environment and Energy Services for the City of Boston, and Geoff Chapin, CEO of Next Step Living, Mayor Menino congratulated Dorchester resident and homeowner Crystal Haynes for being the first person to take advantage of this innovative partnership.

Model Agreement Will Bring Relief to Homeowners. BOSTON, MA - June 22, 2009 - (RealEstateRama) — The Patrick Administration’s Division of Banks today announced a major agreement with Taylor, Bean & Whitaker Mortgage Corporation (TBW) regarding its mortgage lending practices for so-called “nontraditional” loans made in 2006. This agreement will result in a detailed review of TBW’s nontraditional loan exceptions, the adoption of the federal loan modification program to assist struggling homeowners, and the payment of $9 million to assist the states in their oversight of mortgage origination practices.

Was MassHousing’s 2008 top-producing lender and top minority and low-income lender. BOSTON, MA - June 11, 2009 – (RealEstateRama) — MassHousing recently honored Bank of Canton for being the agency’s top-producing lender and top-producing lender to minorities and low-income families in 2008.

Congratulates Sandra Henriquez on new appointment with HUD and thanks her for her leadership in Boston. Boston, MA - June 11, 2009 - (RealEstateRama) — Mayor Thomas M. Menino today announced the appointment of Bill McGonagle as interim Administrator of the Boston Housing Authority. The move comes upon the departure of current Administrator Sandra Henriquez, who is taking a position with the US Department of Housing and Urban Development as Assistant Secretary of Public and Indian Housing.

Boston, MA - June 11, 2009 - (RealEstateRama) — Lawyers Clearinghouse on Affordable Housing and Homelessness honored Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. and the firm's program coordinators, attorneys Colin Van Dyke and Jehanne Bjornebye, for their dedication to the Massachusetts Legal Clinic for the Homeless. The firm was recognized at the organization's 21st Annual Meeting on June 9 at the offices of Nixon Peabody

BOSTON, MA - June 4, 2009 - (RealEstateRama) — The Division of Banks (Division) today announced the issuance of 87 cease-and-desist orders against licensed mortgage lenders and mortgage brokers in Massachusetts. The Division closed these licensees today after they failed to provide required financial information, including the failure to post a bond.In September 2007, the Division amended its regulations regarding the licensing of mortgage brokers and lenders. Earlier in 2007, the Mortgage Summit Working Groups (convened by the Division to address the foreclosure crisis comprised of representatives of government, industry, and non-profit organizations) had recommended raising the barriers to entry, including the financial requirements for mortgage lenders and mortgage brokers.

BOA was 2008 top producing lender of MassHousing’s Get the Lead Out Program BOSTON, MA June 3, 2009 - (RealEstateRama) — MassHousing recently honored Bank...

Says City Will Apply for Additional Federal Funds to Help Move Stalled Development Projects Forward. June 01, 2009 - (RealEstateRama) — Mayor Thomas M. Menino today announced the City has committed to issue the first Boston Invest in Growth loans, enabling important developments to move forward in three Boston neighborhoods, including a new shopping center in Hyde Park; a neighborhood market in South Boston, and a brand new hotel in the City’s Theater District. The three projects represent a $230 million economic investment, and are expected to generate more than 650 new permanent jobs and hundreds more construction jobs in Boston.

WALTHAM, Mass. - May 25, 2009 - (RealEstateRama) — The Massachusetts Association of REALTORS® (MAR) reported today that median home prices for single-family homes and condominiums showed slight signs of improvement in April. While median prices were down 12.5 percent for single-family homes and 14.2 percent for condos, it is the smallest annual price decrease since October 2008 and November 2008 respectively. On a month-to-month basis single-family median prices were up 7.8 percent from March, the largest month-to-month increase since MAR has been tracking monthly median prices. Single-family home sales were down 13 percent in April compared to the same time last year, while condominium sales were down 28.8 percent.

“On a year-over-year basis, median prices are still feeling the weight of the market correction that has been taking place over the past 20 months,” said MAR President Gary Rogers, a broker at RE/MAX First Realty in Waltham. “However, it is encouraging to see month-to-month median prices going up, as it is reflective of the increased activity REALTORS® are seeing today as buyers are looking to get back into the market.”

Bank of Canton recognized as top producing lender and top minority lender. BOSTON, MA - May 21, 2009 - (RealEstateRama) — MassHousing recently honored seven of the agency’s top-producing lending partners for 2008 during its annual Home Ownership Awards Ceremony.

BOSTON, MA - May 20, 2009 - (RealEstateRama) — MassHousing has approved $390,000 in funding for the creation or preservation of affordable sober housing for men and women in Roxbury, Westfield, Holyoke, Gloucester and Lowell. The MassHousing grants, ranging from $23,672 to $90,000, will come from the Center for Community Recovery Innovations, Inc. (CCRI), a nonprofit subsidiary corporation of MassHousing that creates and preserves affordable sober housing in Massachusetts for recovering substance abusers. CCRI to date has awarded more than $4 million in grants for sober housing for more than 1,000 units of substance-free housing in more than two dozen communities for men, women, families, veterans, the homeless and ex-offenders.