Massachusetts RealEstateRama

BOSTON, MA - August 24, 2010 - (RealEstateRama) -- Monday, August 23, 2010 - As part of the Patrick-Murray Administration's Massachusetts Recovery Plan, Governor Deval Patrick today announced that the state will target $1,700,033 in federal weatherization assistance recovery funds to replace old, inefficient heating systems in buildings operated by 13 public housing authorities throughout the Commonwealth. These upgrades will create jobs, deliver clean, efficient warmth and lower heating costs for tenants of family public housing developments in Barnstable, Carver, Concord, Fairhaven, Falmouth, Framingham, Franklin, Haverhill, Lowell, Norton, Sandwich, Sudbury and Wrentham."Today's awards will not only help keep our environment clean, but these heating system upgrades will boost business, put people to work and improve conditions for families living in state public housing," said Governor Patrick

BOSTON , MA - August 24, 2010 - (RealEstateRama) -- Attorney General Martha Coakley’s Office has obtained consent judgments against five defendants that perpetrated an unlawful foreclosure rescue scheme against multiple homeowners facing foreclosure that stripped and retained hundreds of thousands of dollars of the victims' home equity.The judgments, entered against Primary Mortgage Resource, Leo Desire, Sr., Robert Marks, Pierre Joseph and Daphne Mompoint, provide for payments of restitution to victims and civil penalties to the Commonwealth and prohibit the defendants from engaging in certain activities that facilitated the scheme

August 16, 2010 - (RealEstateRama) -- Gerardi, Foote, and Willen look at economists' assessments of the housing market prior to its collapse to see whether they saw signs of a bubble. While some economists did warn of a bubble, this was a minority view. Other economists advanced well reasoned counterarguments.

BOSTON, MA - August 16, 2010 - (RealEstateRama) -- MassHousing announced a loan closing today of $5.9 million to preserve affordability for low-income families at the 86-apartment St. Michael’s House in Northampton.

WORCESTER, MA - August 13, 2010 - (RealEstateRama) -- An Oxford man was arraigned in Worcester Superior Court for his role in a complex scheme in which fraudulent documents were used to defraud homeowners and mortgage lenders in numerous real estate transactions involving distressed properties in the Worcester County area. Allen Seymour, age 42, is charged with Forgery (4 counts), Uttering (8 counts), Inducing a Lender to Part with Property (12 counts) and Larceny by False Pretenses. Yesterday, Massachusetts State Police transported Seymour from federal prison in New Jersey to Massachusetts.Three other co-defendants have been charged in connection with this case. On December 1, 2009, Raymond A. Desautels III, age 43, of Oxford, was sentenced to serve two years in State Prison after pleading guilty to the charges of Inducing a Lender to Part with Property (5 counts).

BOSTON, MA - August 10, 2010 - (RealEstateRama) -- The Patrick-Murray Administration's Division of Banks today announced the issuance of 43 temporary cease-and-desist orders against licensed mortgage loan originators in Massachusetts for failing to meet requirements for licensure under state law. The mortgage loan originators did not meet the standards set in a 2009 law, an Act Adopting the Federal Secure and Fair Enforcement for Mortgage Licensing Act of 2008, also known as the SAFE Act.A significant provision of the 2007 foreclosure prevention legislation filed and signed by Governor Deval Patrick was the extension of licensing requirements to individual mortgage loan originators employed by licensed non-bank mortgage lenders and mortgage brokers. This law was updated in 2009 by Chapter 44 to ensure compliance with the federal SAFE Act which was largely patterned after the existing Massachusetts law

BOSTON, MA - August 10, 2010 - (RealEstateRama) -- Attorney General Martha Coakley announced today that her office has obtained a consent judgment and filed two lawsuits against multiple real estate companies and their agents for allegedly violating state anti-discrimination, lead paint, and consumer protection laws by posting advertisements mentioning the lead status of rental properties and thereafter refusing to rent to families with young children.Under Massachusetts law, it is illegal to refuse to rent or steer families away from rental properties because they have young children whose presence triggers an owner’s duty to eliminate lead hazards that pose serious health risks. The judgment and lawsuits are the result of a partnership with the Fair Housing Center of Greater Boston (“Fair Housing Center”) and part of an ongoing statewide investigation into reports of widespread discriminatory Internet advertising on Craigslist.org.

BOSTON, MA - August 6, 2010 - (RealEstateRama) -- Attorney General Martha Coakley’s Office concluded its case against former Brockton attorney Alec G. Sohmer and five other defendants over their roles in a 2006 foreclosure rescue scheme.The judgments entered today by Judge Thomas Connolly against Sohmer in the amount of $620,000 and against the four remaining defendants collectively in the amount of $364,000, together with the judgment obtained last May in the amount of $41,204, resolve allegations that Sohmer, with the assistance of the other defendants, orchestrated an unlawful foreclosure rescue scheme against 26 homeowners

BOSTON, MA - August 5, 2010 - (RealEstateRama) -- Attorney General Martha Coakley today announced that she has provided testimony to the U.S. Securities and Exchange Commission (“SEC”) regarding how to better protect investors relating to the subprime mortgage investment crisis.

August 4, 2010 - (RealEstateRama) -- "The new space will provide the Asian American Lawyers Association (AALAM) with a place to call home. Equally important, it will go a long way toward fostering ever closer relationships between AALAM, other affinity bar organizations, and the BBA for the benefit of the members that we serve.

NEW BEDFORD, MA - July 29, 2010 - (RealEstateRama) -- A consent judgment has been obtained against a South Dartmouth landlord resolving allegations that he made discriminatory statements in rental advertisements posted on the popular classified advertising website Craigslist.org (“Craigslist”), Attorney General Martha Coakley announced today

WALTHAM, MA - July 27, 2010 - (RealEstateRama) -- The Massachusetts Association of REALTORS® (MAR) reported today that single-family home sales were up in June, marking the 12th straight month of year-over-year increases. Both single-family and condominium median prices were also up in June and in Q2 compared to the same time last year.

Lynn, MA - July 26, 2010 - (RealEstateRama) -- Today, Congressman John Tierney (D-MA) announced that Bridgewell, a Lynnfield-based nonprofit, received a $1,715,000 grant from the U.S. Department of Housing and Urban Development, to build ten units of housing for local seniors and residents with developmental disabilities in Lynn. The program and apartments are designed to allow residents to live independently.

July 20, 2010 - (RealEstateRama) -- Mayor Thomas M. Menino today announced that the Department of Neighborhood Development (DND) has recently been awarded a Permanent Housing Funding Bonus grant of more than $1 million by the U.S. Department of Housing and Urban Development (HUD) that will provide for permanent housing for 22 homeless families who are currently living in emergency shelter, or in hotels or motels

BOSTON, MA - July 20, 2010 - (RealEstateRama) -- Governor Deval Patrick today announced that MassHousing had its single greatest lending year in the agency's 44-year history by providing more than $838 million for affordable housing in fiscal year 2010.This landmark year shattered MassHousing's previous record of $753 million in overall lending set just last year. MassHousing has posted four consecutive record years for home mortgage lending and more than doubled its lending in fiscal 2010 for affordable rental housing.

BOSTON, MA - July 16, 2010 - (RealEstateRama) -- Attorney General Martha Coakley’s Office filed a lawsuit in Suffolk Superior Court against Helen M. McCarthy, of Boxford, and her son James F. McCarthy, of Laconia, New Hampshire, alleging that they illegally altered and filled protected wetlands and dumped solid waste throughout a large parcel of land in Saugus.The McCarthys have for at least a decade maintained an illegal dumping ground and permitted ongoing wetlands violations at Pennsylvania Avenue, a property that borders Saugus, Wakefield and Lynnfield, according to the lawsuit. The lawsuit, filed yesterday, seeks a permanent injunction requiring the McCarthys to restore and remediate the site. The lawsuit is also asking the court to impose penalties on the defendants for violating state laws designed to protect the environment.

BOSTON, MA - July 14, 2010 - (RealEstateRama) -- The owner of coastal property and an island in Fairhaven will restore wetlands on both the mainland and island parcels that were damaged by clear-cutting and wall construction projects conducted in violation of state laws designed to protect natural resources, Attorney General Martha Coakley and the Massachusetts Department of Environmental Protection (MassDEP) announced today.Carlos A. Pereira will restore the wetlands and pay a $38,000 civil penalty, $18,000 of which will be waived if he complies with the terms of the consent judgment entered yesterday in Suffolk Superior Court. Under the terms of the settlement, Pereira will also make a $2,000 contribution to the Coalition for Buzzards Bay, a non-profit organization dedicated to the protection of the Buzzards Bay watershed.

BROCKTON, MA - July 13, 2010 - (RealEstateRama) -- A Marshfield woman has been arraigned in connection with allegedly trying to delay or avoid foreclosure of a home mortgage by falsely reporting the death of a child to her mortgage company, and thereafter knowingly falsifying information in an affidavit filed in Brockton Superior Court, Attorney General Martha Coakley announced.Donna Larson, age 52, was arraigned today in Brockton Superior Court on charges of Attempted Larceny and Perjury. Larson pled not guilty before Judge Joseph M. Walker III and was released on personal recognizance.

WALTHAM, MA - July 7, 2010 - (RealEstateRama) -- The Massachusetts Association of REALTORS® (MAR) reported today that the number of single-family homes put under agreement in June were down 16.0 percent over the same time last year, while condominiums were down 21.0 percent. This is the second month in a row that the number of both single-family homes and condominiums put under agreement has decreased compared to the year before.

BROCKTON, MA - July 1, 2010 - (RealEstateRama) -- A Marshfield woman has been indicted in connection with allegedly trying to delay or avoid foreclosure of a home mortgage by falsely reporting the death of a child to her mortgage company, and thereafter knowingly falsifying information in an affidavit filed in Brockton Superior Court, Attorney General Martha Coakley announced.A Plymouth County Grand Jury returned indictments against Donna Larson, age 52, on charges of Attempted Larceny and Perjury

WALTHAM, MA - June 29, 2010 - (RealEstateRama) -- Up to 3,930* Massachusetts home buyers will lose their tax credit through no fault of their own if Congress fails to pass an extension to the home buyer tax credit closing deadline of June 30. The National Association of REALTORS® (NAR) also estimates that up to 180,000 home buyers across the country would lose out on the tax credit

BOSTON, MA - June 25, 2010 - (RealEstateRama) -- Investment giant Morgan Stanley (Morgan) will pay $102 million to affected Massachusetts homeowners and the Commonwealth following an investigation by the Attorney General’s Office into Morgan’s role in the securitization and financing of Massachusetts subprime loans, Attorney General Martha Coakley announced today.

MEDFORD, MA - June 24, 2010 - (RealEstateRama) -- Rep. Edward J. Markey (D-Malden) announced Monday that over $6 million in combined federal and state funding will soon be released for the preservation of 272 rental housing units, 251 of which will be set aside as affordable housing, for the City of Malden. The maintenance and restoration of these rental units will boost the availability of affordable housing in Malden, while creating jobs and fostering economic growth

BOSTON, MA - June 22, 2010 - (RealEstateRama) -- As part of the Patrick-Murray Administration's ongoing commitment to boost affordable housing production, create jobs and foster economic growth, Governor Deval Patrick today pledged more than $189.9 million in resources leveraged from various affordable housing programs and private investment to support the construction of 32 rental developments in 19 communities across the state which will yield an estimated 2,400 construction jobs."By investing this targeted blend of public and private resources to spur housing development, we are creating jobs, boosting local businesses, strengthening communities and building a better, stronger Commonwealth," said Governor Patrick.

June 18, 2010 - (RealEstateRama) -- A consortium of mortgage lenders, community group leaders, and state and federal government officials are moving forward on initiatives that would make the mortgage modification process easier for homeowners, and likely allow more families to stay in their homes as they solve their potential foreclosure problems.Since February, a group that includes community groups like the Brockton Interfaith Community (BIC), the Patrick-Murray Administration's Office of Consumer Affairs and Business Regulation, the Federal Reserve Bank of Boston, the U.S. Treasury, and 10 banks, has been regularly meeting - including summit meetings on Feb. 19 and April 12 - discussing ways to make the loan modification process work better for homeowners. The group is focusing on three areas

NEW BEDFORD, MA - June 17, 2010 - (RealEstateRama) -- A vacant industrial site along the Acushnet River contaminated with polychlorinated biphenyls (“PCBs”) and solvents will be cleaned up and prepared for redevelopment under an agreement Attorney General Martha Coakley’s Office and the Massachusetts Department of Environmental Protection (MassDEP) reached with AVX Corporation (“AVX”).

BOSTON, MA - June 7, 2010 - (RealEstateRama) -- Saugus based Eastern Property Management Group, Inc. (“Eastern Property”) is being sued by Attorney General Martha Coakley for allegedly posting discriminatory rental advertisements on the popular classified advertising website Craigslist.org (“Craigslist”). This latest filing stems from the Attorney General’s ongoing statewide investigation into reports of widespread discriminatory Internet advertising in housing. The Attorney General’s Office is seeking an order prohibiting Eastern Property from engaging in housing discrimination, requiring fair housing training for its employees, compensatory and punitive damages, civil penalties, and attorney’s fees and costs.

WALTHAM, MA - June 2, 2010 - (RealEstateRama) -- The Massachusetts Association of REALTORS® (MAR) reported today that the number of single-family homes put under agreement in May were down 3.0 percent over the same time last year, while condominiums were down 6.0 percent. May is the first month since July 2009 that the number of both single-family homes and condominiums put under agreement has decreased compared to the year before.

Partnership between MassHousing, city of Brockton, Brockton Housing Partnership, and lenders will help create opportunities for buyers who buy properties in need of repair. BOSTON, MA - June 1, 2010 - (RealEstateRama) -- MassHousing announced a new initiative today in partnership with the city of Brockton, Brockton Housing Partnership, and area lenders to make grant funds available to first-time homebuyers who purchase foreclosed homes in Brockton.

Barstow Village will provide 66 affordable apartments for senior citizens. BOSTON, MA - May 27, 2010 - (RealEstateRama) -- MassHousing announced $2.4 million in loan commitments today for the development of Barstow Village in Hanover, which will provide 66 affordable apartments for senior citizens.