News
Foreclosures

SunTrust Mortgage to Pay $550 Million in Federal-State Deal Over Unlawful Foreclosures, Loan Servicing

BOSTON – June 18, 2014 – (RealEstateRama) — A $550 million nationwide federal-state settlement with mortgage lender and servicer SunTrust Mortgage Inc. over mortgage origination, servicing, and foreclosure abuses will provide direct payments to eligible Massachusetts borrowers for past foreclosure abuses, along with loan modifications and other relief for borrowers in need of assistance, Attorney General Martha Coakley announced today.

AG Coakley Urges FHFA to Use Buyback Programs and Principal Reductions to Keep People in Their Homes

BOSTON – May 16, 2014 – (RealEstateRama) — Saying in a letter file size 2MB today that the use of buyback programs and principal reductions are “key to helping homeowners recover from this foreclosure crisis,” Attorney General Martha Coakley urged the new director of the Federal Housing Finance Agency (FHFA) to use buybacks or face legal action

Ocwen to Provide $2.1 Billion in Relief to Homeowners in State-Federal Settlement Over Loan Servicing Misconduct

BOSTON – December 19, 2013 – (RealEstateRama) — The nation’s fourth largest mortgage servicer has agreed to provide Massachusetts homeowners with an estimated $80 million in principal reduction and cash payments to homeowners as part of a national settlement to resolve claims of loan servicing misconduct and unlawful foreclosures, Attorney General Martha Coakley announced today.

CITY OF SPRINGFIELD BEGINS IMPLEMENTATION OF THE UPDATED VACANT AND FORECLOSING PROPERTY REGISTRATION ORDINANCE

Springfield, MA – October 21, 2013 – (RealEstateRama) — Mayor Domenic J. Sarno announced the beginning of the implementation of the City of Springfield’s updated ordinance requiring the registration of vacant and foreclosing properties to protect and preserve public safety, security, and the quiet enjoyment of occupants, abutters, and neighborhoods.

AG Coakley Sues Alleged Foreclosure Relief Groups for Soliciting Illegal Fees, Taking More Than $350,000 From Homeowners

BOSTON – October 16, 2013 – (RealEstateRama) — A group of businesses that advertised themselves as non-profit foreclosure prevention organizations was sued for allegedly soliciting and spending more than $350,000 in illegal advance fees from distressed homeowners, Attorney General Martha Coakley announced today

AG Coakley Statement on Report Showing ‘Exceptional’ Reduction in Foreclosures in Massachusetts

BOSTON – May 14, 2013 – (RealEstateRama) — Massachusetts Attorney General Martha Coakley today issued the following statement in response to a study from The Warren Group reporting a significant decline in Massachusetts foreclosures during the month of March, and crediting the state’s new loan modification law as one of the major reasons for that reduction:

Application Period Opens for $1 Million Grant Program to Revitalize Distressed Properties

BOSTON – May 10, 2013 – (RealEstateRama) — In an effort to help Massachusetts municipalities with high rates of distressed and vacant properties turn the corner on the foreclosure crisis, Attorney General Martha Coakley today opened the application period for a $1 million grant program designed to identify and return bank-owned properties to productive residential use

AG Coakley Reminds Homeowners Eligible for Loan Modifications Under New Law to Seek Assistance Through HomeCorps

BOSTON – April 26, 2013 – (RealEstateRama) — Thousands of Massachusetts residents at risk of foreclosure are receiving notices in the mail alerting them to their eligibility to request a loan modification, Attorney General Martha Coakley announced today. Homeowners with questions can seek immediate assistance through the AG’s HomeCorps program, which is celebrating its one-year anniversary today.

Application Period Opens for $5 Million Abandoned Housing Grant Program

BOSTON – April 12, 2013 – (RealEstateRama) — In an effort to increase the rehabilitation of distressed and abandoned properties in Massachusetts, Attorney General Martha Coakley today opened the application period for a $5 million grant program. Utilizing funds recovered through the nationwide state-federal settlement over unlawful foreclosures, the Abandoned Housing Initiative Receivership Fund (AHI Fund) will assist local communities in mitigating the impacts of the foreclosure crisis.

AG Coakley Targets Financial Companies for Predatory Loan Practices, Warns Homeowners About Foreclosure Relief Scams

WASHINGTON, D.C. – March 8, 2013 – (RealEstateRama) — AG’s Office Obtains $20,000 Settlement with iMod Corporation, Files Lawsuit Against Pinnacle Financial for Soliciting Massachusetts Consumers with Foreclosure Relief Scams

Foreclosure Prevention Initiatives Provide Free Services to Struggling Borrowers as Part of AG Coakley’s HomeCorps Program

BOSTON – February 15, 2013 – (RealEstateRama) — Initiatives established as part of Attorney General Martha Coakley’s HomeCorps program have provided hundreds of struggling homeowners with a range of foreclosure-prevention efforts that include free legal services, financial counseling and eviction prevention across the state.

Resources from Foreclosure Counselor Training with AG’s Office

WASHINGTON, D.C. – February 14, 2013 – (RealEstateRama) — Please find below powerpoint presentations and handouts from the February 12th training in Boston and for the February 28th training in Springfield, and important links to the Office of Consumer Affairs and Business Regulation/Division of Banks website

AG Coakley Leads Roundtable Discussion in Lowell on Foreclosure Prevention Efforts

LOWELL – February 14, 2013 – (RealEstateRama) — Attorney General Martha Coakley today joined Lowell Mayor Patrick Murphy, City Manager Bernard Lynch and local housing advocates for a roundtable discussion on foreclosure prevention efforts, including the AG’s first-in-the-nation HomeCorps program, which was established after the $25 billion national mortgage settlement was announced one year ago this week.

One Year Later: National Mortgage Settlement Brings Millions of Dollars in Relief to Massachusetts Homeowners

BOSTON – February 11, 2013 – (RealEstateRama) — Thousands of Massachusetts homeowners on the brink of foreclosure have received assistance in the year since Attorney General Martha Coakley announced a $25 billion national settlement with the five major lenders over their servicing and foreclosure practices. This success has been driven in large part by the AG’s first-in-the nation HomeCorps program which her office created and launched last April and has already directly assisted more than 4,600 borrowers in Massachusetts, more than a thousand of whom have now received permanent loan modifications.

AG Coakley Reminds Qualified Borrowers of Deadline for Foreclosure Settlement Claims Under National Settlement

BOSTON, MA – January 14, 2012 – (RealEstateRama) — Attorney General Martha Coakley today reminded qualified borrowers who lost their homes to foreclosure that Friday, Jan. 18 is the deadline for filing claims for a one-time payment under the $25 billion national mortgage foreclosure settlement.