Consensus Proposal to Congress on the Low Income Housing Tax Credit Program – September 4, 2009
Please click here to read the proposal.
MA Division of Banks Releases Application for Foreclosure Prevention and First-Time Homebuyer Counseling Funds – October 2, 2009
MACDC has released the Funding Application from the MA Division of Banks 2010 funding for Regional Foreclosure Education Centers and Foreclosure Prevention, and First-Time Homebuyer Counseling Programs. Grants are for one year, starting in January. Applications are due on October 30 and inquiries are being accepted until October 20th. Questions about the application should be directed to Mayte Rivera at the DOB.
Please click here for the application.
“Don’t Blame the Community Reinvestment Act” by Ellen Seidman – August 13, 2009
The American Prospect – Homeownership rates and CRA enforcement soared in the 1990s, but sub-prime came later. CRA shouldn’t be the scapegoat for the housing meltdown.
Please click here to read the full article.
HUD Announces Neighborhood Stabilization Program Technical Assistance Awards – August 27, 2009
WASHINGTON – U.S. Department of Housing and Urban Development Secretary Shaun Donovan today announced HUD is launching a $50 million effort to help state and local governments address the inventory of foreclosed properties assisted under the Department’s Neighborhood Stabilization Program (NSP). HUD is awarding $44.5 million to nine national organizations and another $5.5 million to help local communities purchase, rehabilitate and resell foreclosed properties in especially hard-hit neighborhoods.
Please click here for the full news release.
Attorney General Coakley Announces Grant Funds for Foreclosure Prevention – September 21, 2009
BOSTON – Today, Attorney General Martha Coakley’s Office launched three new grant programs totaling $4 million that help provide active jobs for youth at risk, support the rehabilitation of abandoned property and promote financial literacy as a means to prevent foreclosure. The funding for the grants stems from several settlements that were obtained by the Attorney General’s Office as a result of recent enforcement actions against pharmaceutical giants Merck Vioxx, Eli Lilly and Pfizer and against Fremont Investment & Loan. All grant programs have an expected start date of January 4, 2010.
Please click here for the full press release.
Treasury Department Extends Tax Credit Exchange Program Disbursement Deadline – August 31, 2009
The Department of the Treasury is amending its policy regarding the time limitation within which State housing credit agencies must disburse funds received under section 1602 of the American Recovery and Reinvestment Tax Act of 2009. This change will allow States to disburse section 1602 funds to subawardees through December 31, 2011 under certain conditions.
Please click here for the full text of the rule.