CHAPA Launches Massachusetts Foreclosed Properties Initiative – March 16, 2009

BOSTON – March 16, 2009 –CHAPA and state officials unveiled a first-in-the-nation statewide clearinghouse program today aimed at taking back foreclosed properties throughout the state. Outside, in a New Bedford neighborhood deeply affected by foreclosures, CHAPA, along with Congressman Barney Frank, Governor Deval Patrick, Undersecretary Tina Brooks, New Bedford Mayor Scott Lang, and the New Bedford legislative delegation launched the new “Massachusetts Foreclosed Properties Initiative” today.

Please click here to view the full press release.

Please click here for the program fact sheet.

Massachusetts Economy Continues its Rapid Descent (MassBenchmarks) – March 27, 2009

The Massachusetts economy contracted at a 4.2 percent annualized rate in February according to the latest MassBenchmarks Current Economic Index. Recent data revisions indicate that the state economy declined at a 4.7 percent annualized rate in the fourth quarter of 2008, substantially worse than the 3.5 percent decline previously reported but comparatively better than the 6.3 percent annual rate of contraction the US experienced during the same period.

Please click here to read the full bulletin from MassBenchmarks.