Yearly Archives: 2010

BOSTON, MA - May 6, 2010 - (RealEstateRama) -- MassHousing announced a $26.9 million construction loan commitment today for Phase One of the Old Colony public housing redevelopment in South Boston. Beacon Communities of Boston is developing the first phase of the Old Colony project, which will replace seven distressed and blighted apartment buildings with 116 new apartments for low-income families in one mid-rise building and four clusters of town homes. Phase One also includes the construction of a new 10,000-square-foot community center, which will be operated by the Boston Housing Authority (BHA)

WOBURN, MA - May 6, 2010 - (RealEstateRama) -- A Marblehead attorney has been indicted by a statewide Grand Jury for allegedly attempting to retrieve over $1.3 million dollars in mortgage funds in connection with a sophisticated mortgage fraud scheme. Leon Gelfgatt, age 49, allegedly used false documents to create the appearance that mortgages on several Massachusetts properties which were scheduled for impending sale had been transferred to a fake company created by Gelfgatt. Gelfgatt allegedly did this in order to obtain the payoff funds sent by real estate closing attorneys when the properties were sold.

Will advise Fannie Mae on best practices to create affordable housing. BOSTON, MA - May 4, 2010 - (RealEstateRama) -- MassHousing Executive Director Thomas R. Gleason has been selected to serve on Fannie Mae’s inaugural Affordable Housing Advisory Council, which will advise Fannie Mae on how it can best support the creation of affordable housing.

WALTHAM, MA - May 4, 2010 - (RealEstateRama) -- The Massachusetts Association of REALTORS® (MAR) reported today that the number of single-family homes put under agreement in April was up 25 percent over the same time last year, while condominiums were up 22 percent. April is the tenth straight month that the number of both single-family homes and condominiums put under agreement had increased over the year before.

NORTH ATTLEBOROUGH, MA - April 28, 2010 - (RealEstateRama) -- A former manufacturing facility in North Attleborough that was contaminated with metals, chemical solvents and oil will be cleaned up and commercially redeveloped as a result of a Brownfields Covenant Not to Sue Agreement Attorney General Martha Coakley’s Office entered into with the owner and prospective developer of the site

BOSTON, MA - April 21, 2010 - (RealEstateRama) -- Senator John Kerry and Congresswoman Niki Tsongas today announced that the Carbon-Neutral Lowell Park and Preservation District initiative will receive $5 million in Recovery Act funding from the U.S. Department of Energy.

ANDOVER, MA - April 21, 2010 - (RealEstateRama) -- Rebuilding or repairing a home after a disaster, like the recent March flooding, can be a daunting task. But with the right suggestions, homeowners can build back smarter and stronger

BOSTON, MA - April 20, 2010 - (RealEstateRama) -- Senators John Kerry and Scott Brown today announced that seven Massachusetts housing organizations will receive a total of $399,780 in federal funding from NeighborWorks America. The funding will be used to help local communities revitalize and sustain their neighborhoods and to provide counseling to families and individuals facing the threat of foreclosure.

WASHINGTON, DC - April 15, 2010 - (RealEstateRama) -- The HomeStar program to help families retrofit their homes with more efficient windows, doors and other home improvements today passed the Energy and Commerce Committee, moving a program backed by President Obama, to a vote in the House of Representatives. The HomeStar legislation passed the committee by a vote of 30-17.

WASHINGTON, DC - April 15, 2010 - (RealEstateRama) -- Rep. Peter Welch (D-Vt.), Chairman Ed Markey (D-Mass.) and a bipartisan group of legislators on Wednesday introduced the Home Star Energy Retrofit Act, calling it critical job-creating legislation.

Partnership between MassHousing, city of Haverhill and Haverhill Bank will help create opportunities for qualified buyers who purchase properties in need of repair. BOSTON, MA - April 15, 2010 - (RealEstateRama) -- MassHousing, Haverhill Mayor James J. Fiorentini and Haverhill Bank announced a new initiative today to make grant funds available to first-time homebuyers who purchase foreclosed homes in Haverhill. Qualified homebuyers who obtain a MassHousing Mortgage through Haverhill Bank will be eligible for a second loan to assist in rehabilitating the foreclosed property. The second loan will be funded through the Neighborhood Stabilization Program (NSP), which was created in federal economic recovery legislation.

BOSTON, MA - April 14, 2010 - (RealEstateRama) -- MassHousing Executive Director Thomas R. Gleason testified before the House Committee on Financial Services in Washington, D.C., today, advocating for reform of Fannie Mae, Freddie Mac, and other socalled GSEs, and urging Congress to make sure future GSEs commit themselves to supporting affordable housing

BOSTON, MA - April 13, 2010 - (RealEstateRama) -- Attorney General Martha Coakley has filed a lawsuit against Christian Hayes, of Danvers, a former mortgage loan officer with Bank of America, alleging he deceptively funneled loan modification requests originally directed to Bank of America to his company Foreclosure Alternatives where he demanded illegal fees from distressed homeowners before assisting them with their troubled mortgages. The Attorney General’s Office is seeking a preliminary injunction prohibiting Hayes and his business from soliciting or advertising foreclosure-related services to Massachusetts residents, destroying any records or transferring assets.“Homeowners who were struggling to make their monthly mortgage payments went to their lender seeking expert advice and we allege that those homeowners were mislead and taken advantage of,” said Attorney General Martha Coakley. “Under first-in-the-nation regulations that our office issued, it is illegal for a mortgage professional to require up-front fees to assist struggling homeowners. Our office will continue to hold accountable individuals and businesses who attempt to exploit struggling homeowners in this unfair and deceptive manner.”

SPRINGFIELD, MA - April 13, 2010 - (RealEstateRama) -- The owner of a four-unit residential apartment building in West Springfield has been sued for violating state anti-discrimination laws, Attorney General Martha Coakley’s Office announced. The Attorney General’s Office filed a complaint against Mary Anna Cosentini in Western Division Housing Court alleging that she refused to rent to a prospective tenant and her family because the woman participates in the Section 8 housing subsidy program administered through a local agency.“In the current economy, the need for rental or transitional housing assistance is particularly great and these programs are important as families are facing job losses and critical housing needs” said Attorney General Coakley. “Landlords in Massachusetts must understand that it is illegal to refuse to rent to a person holding a Scection 8 voucher or to refuse to do business with an agency administering housing vouchers.”

$560 million allocated by Patrick Administration for affordable home mortgages and to build or preserve affordable rental housing. BOSTON, MA - April 12, 2010 - (RealEstateRama) -- MassHousing has received from the Executive Office for Administration and Finance an allocation of $560.8 million in private activity bonding authority for calendar year 2010. It is believed to be the largest allocation to one quasi-public agency of so-called “private activity bonds” in state history.