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Massachusetts State Websites
• Massachusetts Attorney General's Office
www.mass.gov/ag
• Massachusetts Office of Consumer Affairs and Business Regulation
www.mass.gov/ocabr
• Massachusetts Department of Housing and Community Development
www.mass.gov/dhcd
• Massachusetts Division of Banks
www.mass.gov/dob
• MassHousing
www.masshousing.com
Visit MassHousing for information about the Home Saver Mortgage Program
• Massachusetts Housing Partnership
www.mhp.net
MHP has compiled maps illustrating what communities are experiencing higher rates of foreclosures. To find them, click on 'Homeownership' and 'MHP News'.
Consumer Assistance Websites
• Fannie Mae
www.efanniemae.com/sf/servicing/homesaveradvance.jsp
Information on Home Saver Advance loan program for borrowers with mortgage arrears
• Federal Housing Administration (FHA)
http://portal.hud.gov/portal/page?_pageid=33,717446&_dad=portal&_schema=PORTAL
Information on FHA Secure loan program for borrowers with resetting mortgages
• Federal Reserve Bank of Boston Foreclosure Outreach Campaign
www.theinformedhomebuyer.org
In an effort to assist homeowners facing this challenge the Federal Reserve Bank of Boston has also developed a website and a new brochure, You May Be Paying Too Much For Your Mortgage. The website is a helpful information center homeowners can use to learn about foreclosure education resources, foreclosure prevention counseling and collaborations such as the Mortgage Relief Fund that could help some homeowners refinance into affordable fixed-rate mortgages.
• Homeownership Preservation Foundation
www.995hope.org
Through its 888-995-HOPE hotline, the Homeownership Preservation Foundation has a single mission: to help homeowners avoid foreclosure. The Homeownership Preservation Foundation is an independent nonprofit that provides HUD-approved counselors dedicated to helping homeowners.
• MERS for Homeowners
www.mersinc.org/homeowners/
MERS today launched MERS FOR HOMEOWNERS, an online resource designed to help homeowners identify the mortgage company handling their mortgage loan.
• Mortgage Bankers Association - Home Loan Learning Center Foreclosure Prevention
www.homeloanlearningcenter.com/YourFinances/ForeclosurePreventionResourceCenter.htm
Resource is designed to help borrowers to make informed financial decisions through access to financial education. It also has information about upcoming workshops and events and may offer some new ideas for counselors.
• Mortgage Relief Fund
www.mortgagerelieffund.com
Citizens Bank, Sovereign Bank, TD Banknorth, Webster Bank and Bank of America have committed $125 million in funds to create the Mortgage Relief Fund. Our goal is to help eligible homeowners in New England refinance into more conventional fixed-rate loans that will better meet their needs.
• NeighborWorks Center for Foreclosure Solutions www.nw.org/network/neighborworksprogs/foreclosuresolutions/default.asp
The NeighborWorks Center for Foreclosure Solutions was created to preserve homeownership and healthy neighborhoods in the face of rising foreclosure rates. NeighborWorks offers training courses and resources for foreclosure mitigation counselors, conducts public outreach campaigns to reach struggling homeowners, and works with local leaders to create sustainable foreclosure intervention programs.
• National Loan Servicer Contact Information and Web Links from the OCC
Click here for the list.
Data and Research Websites
• Center for Responsible Lending
www.responsiblelending.org
A resource for predatory lending research and news
• Federal Reserve Bank of Boston
www.bos.frb.org/commdev/foreclosures/index.htm
Webpage with links to recent studies and loan data on foreclosures in New England
• Foreclosure-Response.Org
www.foreclosure-response.org
A new website offering resources intended to help states and localities respond to the foreclosure crisis.
• Freddie Mac
www.freddiemac.com/service/msp/pdf/foreclosure_avoidance_dec2005.pdf www.freddiemac.com/service/msp/pdf/foreclosure_avoidance_dec2007.pdf
2005 and 2007 studies of reasons delinquents homeowners do not contact their lenders.
• HOPE NOW
www.fsround.org/hope_now/hope_now.htm
Data and policy announcements
• Massachusetts Housing Partnership's Strategies for Distressed Properties
www.mhp.net/strategies
A comprehensive web page to help cities and towns stabilize distressed properties and neighborhoods.
• Mortgage Bankers Association (MBA) www.mortgagebankers.org/files/News/InternalResource/59454_LoanModificationsSurvey.pdf
Profile of foreclosures July-September 2007
• NeighborWorks America Stable Communities
www.stablecommunities.org
Information and strategies to revitalize communities
• National Governors Association: State Strategies to Address Foreclosures
www.nga.org
Study of current and proposed state actions to address subprime and prevent predatory lending, and help families avoid foreclosure.
• NeighborWorks America www.nw.org/network/neighborworksprogs/foreclosuresolutions/reports/reports.asp
Studies of effective foreclosure strategies and how-to guide for localities. Additional studies and links at www.nw.org/network/pubs/applied/default.asp
• Office of the Comptroller of the Currency: Foreclosure Prevention: Improving Contact with Borrowers
www.occ.gov/cdd/Foreclosure_Prevention_Insights.pdf
Recommended strategies for lenders to better reach delinquent borrowers, from the Office of the Comptroller of the Currency, provides insights for lenders.
• State Foreclosure Prevention Working Group: Analysis of Subprime Mortgage Servicing Performance
www.csbs.org
Report on information on foreclosure activity and analysis of effectiveness of loan servicer responses in 11 states
• U.S. Congress
www.jec.senate.gov/Documents/Reports/10.25.07OctoberSubprimeReport.pdf
Majority staff of Joint Economic Committee. Report on factors leading to current subprime crisis and projected subprime foreclosures by state mid-2007 through 2009 "The Subprime Lending Crisis: The Economic Impact on Wealth, Property Values and Tax Revenues, and How We Got Here".
• U.S. Congress
www.abiworld.org/110congress/HearingsMatrix.html
Link to recent hearings and testimony on foreclosure crisis via American Bankruptcy Institute website.