In the 2011 budget, HUD proposes to launch a multi-year effort called the Transforming Rental Assistance (TRA) initiative to preserve HUD-funded public and assisted housing, stem the loss of affordable units, enhance housing choice for residents and streamline the administration of HUD’s rental assistance programs. In 2011, the first phase of this initiative would provide $350 million to preserve approximately 300,000 units of public and assisted housing and expand housing choices for families with Housing Choice Vouchers (HCVs).
Housing News
The median price for single-family homes sold in Massachusetts during the month of February jumped 8.4 percent compared to a year earlier, the third consecutive month of year-over-year increases in prices, according to a new report from The Warren Group, publisher of Banker & Tradesman. The uptick in home prices comes as single-family home sales escalated 13.5 percent in February."
The 2010-2014 Consolidated Plan Draft is now available. Every five years, DHCD is required to produce this plan for HUD detailing how Massachusetts will use the Community Development Block Grant, HOME Investment Partnership, Emergency Shelter Grant, and Housing Opportunities for People with AIDS funding to advance housing and community development goals. This plan sets out goals and strategies for Massachusetts’ housing and community development priorities over the next five years.
WASHINGTON – Today, as part of its ongoing commitment to continuously improve housing relief efforts, the Administration announced adjustments to the Home Affordable Modification Program (HAMP) and to the Federal Housing Administration (FHA) programs. These program adjustments will better assist responsible homeowners who have been affected by the economic crisis through no fault of their own. The program modifications will expand flexibility for mortgage servicers and originators to assist more unemployed homeowners and to help more people who owe more on their
The number of foreclosures started by lenders in Massachusetts during the month of February increased 13.2 percent from the prior month but was down 7.5 percent from a year ago, according to The Warren Group, publisher of Banker & Tradesman.
Lenders filed 2,122 petitions to foreclose - which mark the first step in the foreclosure process in Massachusetts - in February, up from 1,874 in January but down from 2,295 in February 2009. A total of 3,996 petitions to foreclose have been filed in the first two months of 2010, a 6.1 percent drop from 4,255 a year earlier.
FOR IMMEDIATE RELEASE
Contacts:
Michele Anapol
(202) 466-2121, Ext. 226
manapol@nhc.org
Laura Woods
(202) 466-2121, Ext. 240
lwoods@nhc.org
State Updates
Housing Committee Advances Foreclosure Relief Legislation
The Joint Committee on Housing favorably advanced An Act Relative to Stabilizing Neighborhoods, S. 1379 and H. 3571. The foreclosure relief bill accomplishes the following:
State Legislature’s Joint Housing Committee Advances Foreclosure Relief Legislation
Bill Provides New Tools to Prevent Foreclosures and Mitigate Impacts on Neighborhoods
BOSTON - MARCH 16, 2010 - Today, Representative Kevin Honan (D-Allston-Brighton), Senator Susan Tucker (D-Andover) and the Joint Committee on Housing favorably advanced An Act Relative to Stabilizing Neighborhoods, S. 1379 and H. 3571. The legislation includes a multi-prong strategy to address the Massachusetts foreclosure crisis.
Washington Post - Sen. Christopher J. Dodd (D-Conn.), chairman of the Senate banking committee, introduced a revised bill on Monday to overhaul financial regulation that included compromises forged with Republicans in recent months but fell short of winning endorsement from conservatives, including members in his own party.
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MHP Foreclosure Monitor: How 2nd wave may impact economic recovery
In-depth look at data shows size of shadow inventory, possible trouble spots
By Tim H. Davis, Feb. 28, 2010