Massachusetts RealEstateRama

BOSTON, MA - May 25, 2010 - (RealEstateRama) -- MassHousing recently honored Cape Cod Five Cents Savings Bank for being the Agency’s top-producing lender in Barnstable County in 2009.

BOSTON, MA - May 25, 2010 - (RealEstateRama) -- At its annual awards ceremony honoring lenders for their commitment to affordable home mortgage lending, MassHousing recognized Sovereign Bank as the Agency’s top originator of MassHousing Home Improvement loans in 2009

May 21, 2010 - (RealEstateRama) -- The City of Springfield, in conjunction with Daniel J. Flynn & Co. of Quincy, will auction off 39 (thirty-nine) properties in tax-title possession on Tuesday, June 8, 2010. Registration begins at 5:00 P.M. and the auction begins at 6:00 P.M. The Auction will be conducted ballroom-style, at Springfield City Hall located at 36 Court Street, Springfield, MA

Latest phase in project will result in 56 affordable rental apartments and townhouses. BOSTON, MA - May 20, 2010 - (RealEstateRama) -- MassHousing announced a $13.5 million construction loan commitment today to an affiliate of Trinity Financial of Boston for Phase 2B of the ongoing Washington Beech public housing redevelopment in Roslindale.

BOSTON, MA - May 19, 2010 - (RealEstateRama) -- MassHousing recently honored 12 of its 2009 top-producing lending partners at the Agency’s annual Homeownership Awards Ceremony. The annual event recognizes MassHousing’s lending partners for their excellence in promoting and originating MassHousing Mortgage products for Massachusetts residents.

Loans will preserve a total of 931 affordable apartments in Reading, Wellesley, Falmouth, Needham, Abington, Sturbridge, Winchester, Norton, Sudbury and Maynard. BOSTON, MA - May 17, 2010 - (RealEstateRama) -- MassHousing announced $110.6 million in loan commitments today for the acquisition and preservation of affordable housing for seniors and families in 10 communities

BOSTON, MA - May 13, 2010 - (RealEstateRama) -- AG Coakley has reached settlements with a Fairhaven real estate company and a real estate broker for delivering alleged deceptive notices to tenants living in foreclosed properties in Roxbury and southeastern Massachusetts in an effort to unlawfully break their lease agreements and remove them from the properties. The notices allegedly threatened to remove the tenants and their belongings from the premises if the defendants were not immediately contacted.The Assurances of Discontinuance filed yesterday in Suffolk Superior Court against RE/MAX Classic of Fairhaven and real estate broker Simone Schettino provide a broad range of relief and preventive measures to ensure their future compliance with state and federal consumer protection laws

Funding will benefit sober housing programs in Roxbury, New Bedford and Tewksbury BOSTON, MA - May 12, 2010 - (RealEstateRama) -- MassHousing has awarded $180,000 in funding to help create new units of affordable sober housing for women in Roxbury and New Bedford and housing stabilization services for women in Tewksbury

HOLYOKE, MA - May 11, 2010 - (RealEstateRama) -- Acres of contaminated property located between the Connecticut River and the Front Canal in historic downtown Holyoke will be cleaned up and redeveloped as a result of a Brownfields Covenant Not to Sue Agreement that Attorney General Martha Coakley’s Office has entered into with the prospective developer of the site.The covenant agreement limits the liability related to contamination on the six parcels in exchange for the redevelopment and cleanup. The property was once home to American Writing Paper and Brown Paper Mills in the 19th and 20th centuries, but the majority of the buildings on the site have been largely vacant in recent decades. Under the agreement, Quantum Properties LLC will clean up the parcels in accordance with Massachusetts Department of Environmental Protection (MassDEP) standards and redevelop them into modern industrial and commercial buildings. The parcels are contaminated with oil and hazardous materials from their industrial history

BOSTON, MA - May 11, 2010 - (RealEstateRama) -- A former Adams man has been ordered to pay $185,657 in damages and civil penalties for engaging in mortgage fraud that resulted in a string of foreclosures in Adams, Greenfield, North Adams, and Pittsfield, Attorney General Martha Coakley’s Office announced today.AG Coakley’s Office obtained a Final Judgment against Richard E. Doherty, 65, of Norwich, Connecticut, resolving claims of mortgage fraud that were outlined in a 2008 lawsuit. The final judgment, entered by Suffolk Superior Court Judge Elizabeth Fahey last week, determined Doherty violated the Consumer Protection Act when he obtained loan proceeds by fraudulently procuring mortgages on multi-family homes and commercial buildings in communities in Western Massachusetts.

WALTHAM, MA - May 11, 2010 - (RealEstateRama) -- The Massachusetts Association of REALTORS® (MAR) today announced that for the first time since MAR started collecting survey data in January 2008, the REALTOR® Market Index is on the positive side of the 100-point scale for April. For the third straight month REALTORS® are optimistic on price as the REALTOR® Price Index also continues to be in positive territory.

BOSTON, MA - May 6, 2010 - (RealEstateRama) -- MassHousing announced a $26.9 million construction loan commitment today for Phase One of the Old Colony public housing redevelopment in South Boston. Beacon Communities of Boston is developing the first phase of the Old Colony project, which will replace seven distressed and blighted apartment buildings with 116 new apartments for low-income families in one mid-rise building and four clusters of town homes. Phase One also includes the construction of a new 10,000-square-foot community center, which will be operated by the Boston Housing Authority (BHA)

WOBURN, MA - May 6, 2010 - (RealEstateRama) -- A Marblehead attorney has been indicted by a statewide Grand Jury for allegedly attempting to retrieve over $1.3 million dollars in mortgage funds in connection with a sophisticated mortgage fraud scheme. Leon Gelfgatt, age 49, allegedly used false documents to create the appearance that mortgages on several Massachusetts properties which were scheduled for impending sale had been transferred to a fake company created by Gelfgatt. Gelfgatt allegedly did this in order to obtain the payoff funds sent by real estate closing attorneys when the properties were sold.

Will advise Fannie Mae on best practices to create affordable housing. BOSTON, MA - May 4, 2010 - (RealEstateRama) -- MassHousing Executive Director Thomas R. Gleason has been selected to serve on Fannie Mae’s inaugural Affordable Housing Advisory Council, which will advise Fannie Mae on how it can best support the creation of affordable housing.

WALTHAM, MA - May 4, 2010 - (RealEstateRama) -- The Massachusetts Association of REALTORS® (MAR) reported today that the number of single-family homes put under agreement in April was up 25 percent over the same time last year, while condominiums were up 22 percent. April is the tenth straight month that the number of both single-family homes and condominiums put under agreement had increased over the year before.

NORTH ATTLEBOROUGH, MA - April 28, 2010 - (RealEstateRama) -- A former manufacturing facility in North Attleborough that was contaminated with metals, chemical solvents and oil will be cleaned up and commercially redeveloped as a result of a Brownfields Covenant Not to Sue Agreement Attorney General Martha Coakley’s Office entered into with the owner and prospective developer of the site

BOSTON, MA - April 21, 2010 - (RealEstateRama) -- Senator John Kerry and Congresswoman Niki Tsongas today announced that the Carbon-Neutral Lowell Park and Preservation District initiative will receive $5 million in Recovery Act funding from the U.S. Department of Energy.

BOSTON, MA - April 20, 2010 - (RealEstateRama) -- Senators John Kerry and Scott Brown today announced that seven Massachusetts housing organizations will receive a total of $399,780 in federal funding from NeighborWorks America. The funding will be used to help local communities revitalize and sustain their neighborhoods and to provide counseling to families and individuals facing the threat of foreclosure.

WASHINGTON, DC - April 15, 2010 - (RealEstateRama) -- The HomeStar program to help families retrofit their homes with more efficient windows, doors and other home improvements today passed the Energy and Commerce Committee, moving a program backed by President Obama, to a vote in the House of Representatives. The HomeStar legislation passed the committee by a vote of 30-17.

WASHINGTON, DC - April 15, 2010 - (RealEstateRama) -- Rep. Peter Welch (D-Vt.), Chairman Ed Markey (D-Mass.) and a bipartisan group of legislators on Wednesday introduced the Home Star Energy Retrofit Act, calling it critical job-creating legislation.

Partnership between MassHousing, city of Haverhill and Haverhill Bank will help create opportunities for qualified buyers who purchase properties in need of repair. BOSTON, MA - April 15, 2010 - (RealEstateRama) -- MassHousing, Haverhill Mayor James J. Fiorentini and Haverhill Bank announced a new initiative today to make grant funds available to first-time homebuyers who purchase foreclosed homes in Haverhill. Qualified homebuyers who obtain a MassHousing Mortgage through Haverhill Bank will be eligible for a second loan to assist in rehabilitating the foreclosed property. The second loan will be funded through the Neighborhood Stabilization Program (NSP), which was created in federal economic recovery legislation.

BOSTON, MA - April 14, 2010 - (RealEstateRama) -- MassHousing Executive Director Thomas R. Gleason testified before the House Committee on Financial Services in Washington, D.C., today, advocating for reform of Fannie Mae, Freddie Mac, and other socalled GSEs, and urging Congress to make sure future GSEs commit themselves to supporting affordable housing

BOSTON, MA - April 13, 2010 - (RealEstateRama) -- Attorney General Martha Coakley has filed a lawsuit against Christian Hayes, of Danvers, a former mortgage loan officer with Bank of America, alleging he deceptively funneled loan modification requests originally directed to Bank of America to his company Foreclosure Alternatives where he demanded illegal fees from distressed homeowners before assisting them with their troubled mortgages. The Attorney General’s Office is seeking a preliminary injunction prohibiting Hayes and his business from soliciting or advertising foreclosure-related services to Massachusetts residents, destroying any records or transferring assets.“Homeowners who were struggling to make their monthly mortgage payments went to their lender seeking expert advice and we allege that those homeowners were mislead and taken advantage of,” said Attorney General Martha Coakley. “Under first-in-the-nation regulations that our office issued, it is illegal for a mortgage professional to require up-front fees to assist struggling homeowners. Our office will continue to hold accountable individuals and businesses who attempt to exploit struggling homeowners in this unfair and deceptive manner.”

SPRINGFIELD, MA - April 13, 2010 - (RealEstateRama) -- The owner of a four-unit residential apartment building in West Springfield has been sued for violating state anti-discrimination laws, Attorney General Martha Coakley’s Office announced. The Attorney General’s Office filed a complaint against Mary Anna Cosentini in Western Division Housing Court alleging that she refused to rent to a prospective tenant and her family because the woman participates in the Section 8 housing subsidy program administered through a local agency.“In the current economy, the need for rental or transitional housing assistance is particularly great and these programs are important as families are facing job losses and critical housing needs” said Attorney General Coakley. “Landlords in Massachusetts must understand that it is illegal to refuse to rent to a person holding a Scection 8 voucher or to refuse to do business with an agency administering housing vouchers.”

$560 million allocated by Patrick Administration for affordable home mortgages and to build or preserve affordable rental housing. BOSTON, MA - April 12, 2010 - (RealEstateRama) -- MassHousing has received from the Executive Office for Administration and Finance an allocation of $560.8 million in private activity bonding authority for calendar year 2010. It is believed to be the largest allocation to one quasi-public agency of so-called “private activity bonds” in state history.

BOSTON, MA - April 12, 2010 - (RealEstateRama) -- Boston Regional Challenge, a new report released today by the Urban Land Institute (ULI) Terwilliger Center for Workforce Housing, finds that the average working household in the Boston region spends over $34,000 a year – or 54 percent of their income – on the combined costs of housing and transportation.

BOSTON, MA - April 8, 2010 - (RealEstateRama) -- A former local attorney pled guilty in Suffolk Superior Court for his role in a complex scheme in which fraudulent documents were used to defraud homeowners and mortgage lenders in real estate transactions involving 26 distressed properties in the Greater Boston area. Bruce Namenson, age 47, of Walpole, pled guilty yesterday to charges of Larceny over $250 (18 Counts), Making or Publishing False or Exaggerated Statements (9 Counts), and False Written Reports by Public Officer or Employee (4 Counts). After the plea was entered, Superior Court Judge Carol Ball sentenced Namenson to serve 2 years in the House of Correction, one year to serve, with the balance suspended for 3 years.

Judgment part of statewide investigation into reports of discriminatory Internet advertising. BOSTON, MA - April 7, 2010 - (RealEstateRama) -- Attorney General Martha Coakley’s Office obtained a judgment against Linheart Smith, a Hyde Park landlord, resolving allegations that he made discriminatory statements in rental advertisements posted on the popular classified advertising website Craigslist.org (“Craigslist”). The judgment, signed by Suffolk Superior Court Judge John C. Cratsley, on April 2, 2010, provides a broad range of relief and preventive measures to ensure Smith’s future compliance with state and federal fair housing laws. This judgment is the result of a continuing statewide investigation by the Attorney General’s Office into reports of widespread discriminatory Internet advertising.“Our office’s lawsuit alleged that this landlord had discriminated against low-income individuals seeking housing. Landlords and real estate professionals must recognize that the rental market is a regulated industry and compliance with our anti-discrimination laws is an important obligation,” said Attorney General Coakley. “While we hope that this enforcement initiative will have a deterrent effect, our office will continue to monitor Craigslist and take action against landlords and real estate professionals who violate the law.”

WALTHAM, MA - April 6, 2010 - (RealEstateRama) -- The Massachusetts Association of REALTORS® (MAR) reported today that despite the record rain last month, the number of single-family homes put under agreement in March was up 27 percent over the same time last year, while condominiums were up 38 percent. March marks the ninth straight month that the number of both single-family homes and condominiums put under agreement had increased over the year before.

WALTHAM, MA - April 6, 2010 - (RealEstateRama) -- REALTORS® across Massachusetts and the country will be hosting open houses as part of the first-ever REALTOR® Nationwide Open House Weekend on April 10-11. With favorable market conditions and the availability of homebuyer tax credits, buyers will have the opportunity to tour an increased number of open houses in their desired communities. Participating open houses will be marked with blue REALTOR® “R” balloons and be listed