March 30, 2009
State Updates
CHAPA Launches Foreclosed Properties Clearinghouse Initiative
At a well-attended event in New Bedford on March 16, CHAPA announced a foreclosed properties clearinghouse to help return foreclosed properties to productive uses.
The goals of the program are to:
Housing News
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.
March 23, 2009 - U.S. Department of the Treasury - Over the past six weeks, the Treasury Department has implemented a series of initiatives as part of its Financial Stability Plan that – alongside the American Recovery and Reinvestment Act – lay the foundations for economic recovery.
Please click here to read the details of the Treasury Department's initiatives.
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.
Washington, DC - The U.S. Department of the Treasury and the Department of Housing and Urban Development (HUD) today launched a new website for consumers seeking information about the Obama Administration's Making Home Affordable loan modification and refinancing program.
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.
This week the President signed into law an omnibus appropriations act for 2009. This law provides 2009 funding for most federal agencies, including affordable housing and community development programs administered by HUD.
Please click here to read the summary of the bill.
Click here to download the description and initial response form. (Word document)
U.S. Department of Treasury - The Obama Administration today announced new U.S. Department of the Treasury guidelines to enable servicers to begin modifications of eligible mortgages under the Administration's Homeowner Affordability and Stability Plan – announced by President Barack Obama just two weeks ago.
Mayor Menino today unveiled the City's Leading the Way III housing strategy, the third comprehensive campaign since 2000, designed to meet Boston's evolving housing needs.
The full City of Boston press release can be viewed here.