May 14, 2013 Posted by Massachusetts RealEstateRama
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 stateâ€™s new loan modification law as one of the major reasons for that reduction:
May 10, 2013 Posted by Massachusetts RealEstateRama
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
April 26, 2013 Posted by Massachusetts RealEstateRama
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 AGâ€™s HomeCorps program, which is celebrating its one-year anniversary today.
April 12, 2013 Posted by Massachusetts RealEstateRama
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
March 8, 2013 Posted by Massachusetts RealEstateRama
WASHINGTON, D.C. – March 8, 2013 – (RealEstateRama) — AGâ€™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 Coakleyâ€™s HomeCorps Program
February 15, 2013 Posted by Massachusetts RealEstateRama
BOSTON – February 15, 2013 – (RealEstateRama) — Initiatives established as part of Attorney General Martha Coakleyâ€™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.
February 15, 2013 Posted by Massachusetts RealEstateRama
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
February 14, 2013 Posted by Massachusetts RealEstateRama
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 AGâ€™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
February 11, 2013 Posted by Massachusetts RealEstateRama
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 AGâ€™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
January 14, 2013 Posted by Massachusetts RealEstateRama
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.
Decision by FHFA to Forbid Principal Reductions Leaves Hundreds of Thousands of Families Facing Foreclosure and Could Cost Up to $1 Billion in Potential Savings
August 1, 2012 Posted by Massachusetts RealEstateRama
Washington, DC – August 1, 2012 – (RealEstateRama) — Congressman John Tierney today released the following statement in response to the decision by Federal Housing Finance Agency Acting Director Ed DeMarco to forbid Fannie Mae and Freddie Mac from reducing principal on mortgages even though utilizing principal reductions could save Fannie Mae and Freddie Mac as much as $3.6 billion, save U.S. taxpayers up to $1 billion on a net basis, and help up to 497,000 homeowners. The Department of the Treasury also issued a letter today calling on FHFA Acting Director Ed DeMarco to reconsider his decision.
Metro Credit Union works with the City of Boston to prevent foreclosures and provide homeownership opportunities
October 26, 2011 Posted by Massachusetts RealEstateRama
October 26, 2011 – (RealEstateRama) — Metro Credit Union was recently approved as a lending partner for the Boston Home Center. Metro will collaborate with the Boston Home Center to develop and enhance mortgage programs aimed at placing homeowners in the most sustainable mortgages
Tierney Continues to Press Administration to Ensure that Homeowners Receive a Fair-Shake From Mortgage Lenders and Servicers
October 10, 2011 Posted by Massachusetts RealEstateRama
Washington, DC – October 10, 2011 – (RealEstateRama) — Today, Congressman John Tierney (MA-06) will join a group of lawmakers in a meeting with Acting Director Edward DeMarco of the Federal Housing Finance Agency (FHFA) to discuss President Obama’s proposal to allow more American families to refinance their mortgages at historically low interest rates. The meeting is the result of increased pressure from Tierney and a group of his Democratic colleagues on the FHFA to discuss quick implementation of the proposal President Obama mentioned during his recent address to Congress.
Federal Reserve Bank of Boston Releases “State Foreclosure Prevention Efforts in New England: Mediation and Assistance”
September 29, 2011 Posted by Massachusetts RealEstateRama
BOSTON, MA – September 29, 2011 – (RealEstateRama) — Foreclosure initiations spiked in all the New England states during the recent economic downtown, ranging from a peak of less than 3.0% of outstanding mortgages in Vermont in 2010 to a peak of 5.5% of outstanding mortgages in Rhode Island in 2009. Across the entire New England region in 2010, more than 7% of all mortgage holdersâ€“ nearly 133,000 homeowners â€“ were seriously delinquent in making payments. In response, state and local policymakers have created their own foreclosure prevention programs to supplement those available nationwide.
September 13, 2011 Posted by Massachusetts RealEstateRama
Boston, MA – September 13, 2011 – (RealEstateRama) — Mayor Thomas M. Menino today joined Evelyn Friedman, Director of the Department of Neighborhood Development (DND), and 12 first-time homebuyers of formerly foreclosed properties for a housewarming celebration on Rockwell Street in Dorchester.