Mass. Foreclosure Petitions In March Jump To Highest Level Since Last July (Banker & Tradesman) – April 22, 2010

by | Jun 21, 2011 | Housing News

Foreclosure activity in Massachusetts increased significantly during the month of March, according to the latest report by The Warren Group, publisher of Banker & Tradesman. The number of foreclosures initiated by lenders jumped 22 percent from the prior month and 8 percent from a year earlier.

Lenders filed 2,581 petitions to foreclose in March, a 21.6 percent increase from 2,122 in February and 8.4 percent more than the 2,381 petitions filed in March 2009. A total of 6,577 petitions to foreclose have been filed in Massachusetts during the first quarter, a slight decrease from 6,636 in the first quarter of last year. Petitions to foreclose represent the first step in the foreclosure process in Massachusetts.

Please click here to read the full article.

Obama Administration Supports Additional Funding to Stabilize Neighborhoods Hard-Hit by Foreclosure – May 20, 2010

by | Jun 21, 2011 | Housing News

WASHINGTON – U.S. Housing and Urban Development (HUD) Secretary Shaun Donovan announced today that the Obama Administration will work with Congress to find ways to help state and local governments more effectively combat the ongoing effects of the housing crisis and home foreclosures through additional funding for the Department’s Neighborhood Stabilization Program (NSP) and foreclosure prevention counseling. Donovan made the announcement today at a roundtable with Washington, D.C.-based reporters sponsored by the Christian Science Monitor.

Please click here to read the full press release from HUD.

Economic Contributions of Housing Permitted through Chapter 40B (UMass Donahue Institute) – September 15, 2010

by | Jun 21, 2011 | Housing News

BOSTON, MA – September 15, 2010 – The affordable housing law has been a boon to the Massachusetts economy, according to a new study released today by the University of Massachusetts Donahue Institute. In the last decade, nearly 22,000 homes have been built under the affordable housing law, also known as Chapter 40B. These homes have resulted in a total of 47,700 jobs and $9.25 billion in economic activity, according to the study.

To read the full press release, click here.

To read the full report, click here.