The Patriot Ledger » Jessica Trufant
Report: Quincy hits1st-time buyers with high charges
QUINCY --- First-time homebuyers who participated in a city-run loan program repaid thousands of dollars more when they sold their homes than what's described in the program's application form.
The city reduced interest rates in some cases to 18 percent to avoid violating the state’s usury law, but the charges were still significantly higher than what the program application form says and, while not legal, much higher than other such area home-buying programs.