Boston Globe – US Representative Barney Frank said yesterday he wants the government to spend $10 billion to jump-start the stalled development of affordable rental housing nationwide, including 31 projects in Massachusetts that can’t move forward because of a lack of funds.
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Massachusetts is facing a housing crisis similar to the rest of the country. Affordable housing developers that have already received tax credit allocations have run into great difficulties in securing necessary investors because of the economic downturn. There is now strong national consensus that the pending American Recovery and Reinvestment Act can go a long way towards fixing this short-term problem by adopting four temporary measures.
Please click here to read the national sign-on letter for the Low Income Housing Tax Credit program signed by CHAPA and other national housing organizations.
WASHINGTON – With the Making Home Affordable (MHA) program delivering much-needed relief to homeowners and to our economy just over two months after the release of program guidelines, Treasury Secretary Tim Geithner and Housing and Urban Development (HUD) Secretary Shaun Donovan today provided an update on the program’s impact on stemming the housing crisis and keeping families in their homes and announced new options for homeowners facing foreclosure.
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For the third year in a row, top development, housing professionals and design experts from around the state will be the featured speakers at the third annual Massachusetts Housing Institute for local officials.
Sponsored by the Massachusetts Housing Partnership, the event will take place on Tuesday and Wednesday, June 9-10, at the Marriot Spring Hill Suites and Conference Center at Devens. Click here for a schedule of the two-day program.
Click here to read more details at MHP’s website.
Please click here to read full test of the draft legislation.
Patrick-Murray Administration announces homebuyer tax credit loans to promote affordable homeownership opportunities. First-time homebuyers could borrow $8,000 from MassHousing in advance of Federal tax credit.
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Please click here for a fact sheet on the loan.