Housing News

State Updates DHCD Announces FY’13 Non-Utility Annual Expense Increase for State-Assisted Public Housing The Department of Housing and Community Development (DHCD) has notified housing authorities that they will receive a 6.5% increase in their non‑utility budget expense level caps.  The increase is a result of the $64.5 million FY’13 operating subsidy appropriation, federalization of over 3,500 units of public housing, and utility cost savings from energy efficiency improvements.

WASHINGTON – Since its inception, the nation’s Low-Income Housing Tax Credit (LIHTC) Program helped produce more than 2.2 million affordable apartments, accounting for roughly one-third of all multi-family rental housing constructed between 1987 and 2006.  A new report by the U.S. Department of Housing and Urban Development finds that after an initial 15-year required ‘affordability period,’ the vast majority of these LIHTC properties remain affordable for working families.

"Burning Greed" is a film that chronicles the struggles of Fenway neighborhood residents as they fought against an arson for profit ring in their neighborhood in the 1970’s. The makers of "Burning Greed" have just released a trailer for their upcoming film. Click here for one page promo or click here to view the trailer. 

HomeCorps Program Has Already Received More Than 7,800 Calls To Hotline Since April From Distressed Homeowners BOSTON – On Monday, Attorney General Martha Coakley met with U.S. Department of Housing and Urban Development Secretary Shaun Donovan, Brockton Mayor Linda M. Balzotti and other officials to tour an abandoned property in Brockton and address the steps being taken to combat the severe foreclosure crisis in the community and other municipalities across the Commonwealth.

$5.3 million for emergency shelter, rehousing and prevention programs BOSTON – Thursday, August 23, 2012 - The Patrick-Murray Administration’s Department of Housing and Community Development (DHCD) today announced $5.3 million in federal Emergency Solutions Grant (ESG) funds to combat homelessness in the Commonwealth. The funds will support emergency shelters, rapid rehousing for individuals and homelessness prevention programs for families.

Please click here to view the RFR information.

Funding a Result of Multi-State Settlement with Five National Banks in Connection with Illegal Foreclosures and Loan Servicing

WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today proposed two notices containing rules to protect homeowners from surprises and costly mistakes by their mortgage servicers. The first set of CFPB’s proposed rules would provide consumers with clear and timely information about their mortgages so they can avoid costly surprises. They would bring greater transparency to the market.

A notice announcing the FY13 Proposed Fair Market Rents (FMRs) was posted in the Federal Register on August 3. FMRs are used as the basis for determining payment standards in the Housing Choice Voucher (HCV) program, and appropriate rents for project-based programs.

The Federal Reserve Bank of Boston is encouraging borrowers who were financially harmed in the mortgage foreclosure process in 2009 and 2010 to request an independent review. If the review finds errors in how the foreclosure was handled, borrowers may be eligible to receive compensation. Borrowers have until December 31, 2012, to submit a request. To get more information or start the process visit: www.independentforeclosurereview.com To apply borrowers need to meet the following three requirements: