Rebuilding the Commonwealth Recovering from the Foreclosure Crisis and Setting the Foundation for Future Success - April 29, 2014

Post date
April 29, 2014
Rebuilding the Commonwealth Recovering from the Foreclosure Crisis and Setting the Foundation for Future Success
 
In 2007, the country confronted the beginning of a foreclosure crisis that drove the entire economy into the largest recession since the Great Depression.
 
More than 5 million people lost their homes nationwide.
 
The Massachusetts Attorney General’s Office took action to address this crisis in a comprehensive  way, seeking to keep people in their homes and hold those responsible for the crisis accountable. It did this through groundbreaking legal action, legislative solutions, by establishing a first-of-its-kind program to directly help distressed borrowers, and by expanding its program to rehabilitate abandoned properties in local communities.
 
On the second anniversary of HomeCorps, the program established with national settlement funds to directly assist distressed borrowers, this report offers a transparent record of the actions taken by this office during the crisis. It documents the various ways more than $850 million was recovered and provided to Massachusetts homeowners and investors since 2007. It also provides a record of the programs that were supported and funded from settlement funds to assist borrowers and help local communities recover from the foreclosure crisis. 
 
To read the full report please click HERE.