to affordable housing and the housing lottery in the town of Sudbury. The town recently passed an initiative to partner with Habitat for Humanity to build two new affordable housing units.
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KERRY AND MENINO TOUT PLANS TO PREVENT FORECLOSURES
Sen. John Kerry joins Boston Mayor Thomas Menino at a workshop on Saturday on preventing home foreclosures. Kerry has introduced legislation in the Senate to offer safer loans for first-time homebuyers and help homeowners refinance subprime loans. In addition, five different mortgage services are planning to send teams to meet with Boston homeowners who are struggling to pay their mortgages. The workshop takes place at 11 a.m. Saturday at Madison Park High School, 75 Malcolm X Boulevard, Roxbury.
http://www.chapa.org/calendar/?event_id=268
United Way is putting on this “Stable Tenancy” group hug on April 4th.
This article on msnbc.com indicates that realtors are organizing bus tours to show off foreclosed homes to prospective buyers. I wonder if realtors in Boston do this?-David
There was a hearing at the Statehouse today on bills to solve the foreclosure crisis. An interesting note is that some 50,000 more Foreclosures are expected in Massachusetts this summer, when more subprime mortgages have their interest rates reset.-David
I found this article that basically summarizes everything I want to touch on in my article. Basically, there is this phenomenon known as postparchment depression. It happens to college grads when they graduate and realize that they may not be qualified for the job they expect to get. Pretty excited about relating this to the housing crisis.
So our first drafts are due in two weeks.
In the meantime, we have a 3-5 page ethics paper due.
So yeah, I’m about to have a nervous break down.
Just thought I’d share.
-jga
Here’s a video from CNN today, about people who are forced to live in trailers because they lost their homes to foreclosures. It’s definitely worth a look, and a good example of a package we could try to put together.
- Katelyn
http://www.ushomeauction.com/auction_details.php?auctionID=H-021
They’re auctioning off hundreds of Mass foreclosed homes-the “winners”side of the crisis. And an industry that’s certainly profiting from the loss of a lot of homes.
I wonder what access issues there would be, to get cameras in there. I obviously heard of this on that commercial they are playing non stop. I’m easing into spring break by watching a tremendous amount of tv.
U.S. News & World Report has a variety of articles on the housing crisis with interesting angles. I thought you guys might like to read some of them.
Including, Should you lose sleep over Investing in Foreclosed Property? An excerpt:
“But the misery, fear, anxiety, and anger experienced by someone about to lose a home is an opportunity for foreclosure investors, who are prepared and eager to swoop in and snap up the property at below-market rates, often with cash or a cashier’s check in hand and sometimes well before the property is due for the courthouse steps.”
Also, The Haunted Housing Market.
An excerpt:
“There is no time to delay in combating the trends. Monetary policy cannot make bad investments turn good. Cheaper mortgages won’t cure the market where properties are plunging so much in value. The collapse of value will affect all homeowners and, through them, the whole economy. It’s bound to be the most pressing issue in this presidential election year. Voters in the primaries and general election should look to candidates with credible policies in mind to address this downturn.”
Also, At the Mercy of the Market.
And then 3 Key Ways to Buy Foreclosed Property.
Excerpt:
“More than a million foreclosed and “distressed” properties are expected to hit the market this year, from two-bedroom starter homes to 20-room mansions. But while the banks that own many of them are now preparing to sell them en masse at auction, most of the best properties will be sold long before the gavel comes down.”
Even tips in Talking with a Foreclosure Guru.
Enjoy.
