The Patrick Administration is exploring a massive, state-backed bailout of homeowners saddled with risky subprime mortgages as foreclosure rates go through the roof, according to executives briefed on the plans.
Administration officials are exploring plans to create a loan pool for struggling homeowners, who would be offered fixed-rate mortgages at market or below-market rates, according to Thomas Callahan, head of the Massachusetts Affordable Housing Alliance, who has had discussions with MassHousing, a quasi-state authority, about the plan.
You know, I may not be an expert on this, but I know enough to wonder a couple things:
* Isn’t it a bit soon to start talking about dollar amounts and bailouts, considering the subprime lending issue hasn’t even been an issue for more than several months?
* Shouldn’t the state government wait to see what the federal government offers up in way of cash, assistance, etc.?
* MassHousing is going to help administer th...
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Spend Mother’s Day with someone who caresFrom: bostonreb.com
Post Date: 2006-05-10 13:39:44
This sounds like a lot of fun and very educational.
The Massachusetts Turnpike Authority will hold a Mother’s Day 2006 “Walk to the Future” on Sunday, May 14, 2006 from 9:30am to 2:30pm. This 1.5 mile guided walking tour of the Central Corridor and the Rose Fitzgerald Kennedy Greenway will start at Causeway Street and end at the Chinatown Gate. The walk is also sponsored by the City of Boston, the Rose Fitzgerald Kennedy Greenway Conservancy and WalkBoston.
Tour partic...
more A fundraiser to celebrate the life of John BeresfordFrom: bostonreb.com
Post Date: 2006-05-10 11:24:40
John Beresford was a resident of Dorchester, who was killed last May, after coming to the aid of two people who had just been mugged.
Now, a year later, a group of his friends are joining together to celebrate his life, while raising funds for a new foundation, in John’s name.
Here are the details. A worthwhile cause, and a way to turn something terribly tragic into something that can help others.
What: Forest for the Tress: A Evening of Cabaret Celebrating the Life of John Bere...
more What should sellers disclose when telling you about their home?From: bostonreb.com
Post Date: 2006-05-09 19:38:58
What should a seller disclose about his home when he shows it to you? The age of the roof and the hot water heater? That he has had water in the basement, every spring? That he had water in the basement, back in 1982? That his grandmother died in one of the bedrooms? That someone was killed there?
The easy answer is, the seller should disclose everything.
The other easy answer is (and it’s completely contradictory), buyer beware.
The New York Times ran a story about ...
more Boston, MA - it’s pretty, under 7 meters of waterFrom: bostonreb.com
Post Date: 2006-05-09 19:18:03
Okay, the obvious Google Map mashup would be to chart your daily running route.
The not-so-obvious Google Map mashup would be to see what cities would look like, if the Greenland ice-sheet melted.
How does Boston look?
Wet, as you can see, here .
Good news: Lots more “ocean-front” condos for sale.
Bad news: Both my old home and my new home end up like the Statue of Liberty at the end of The Planet of the Apes.
Seal Level Rise on Google Maps - firetree.net by way...
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