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June

11

2013

Gov sets homeownership goal, unveils new ONE program

Calls for 10,000 loans to modest-income families; banks sign on; SoftSecond revamped

BOSTON, June 11, 2013 --- After more than 20 years and 17,000 loans, MHP's SoftSecond Loan Program is taking steps to continue its success by transforming from a two-loan structure to one mortgage, a move that will make it simpler for first-time homebuyers and the financial institutions that offer the program.

May

31

2013

New law may be reason why foreclosures down sharply

Rising prices improve market but processing issues make dip 'somewhat artificial'

BOSTON, May 31, 2013 --- A 2012 law that requires banks to notify borrowers of their rights to pursue a loan modification before foreclosing may be a factor in the precipitous drop in foreclosures in the first quarter of 2013.

May

10

2013

Another milestone for Chelsea's Box District neighborhood

32-unit Highland Terrace opens; 164 of 260 homes done; 96-unit Chelsea Flats begins

CHELSEA, May 10, 2013 --- Every time the new Box District Neighborhood marks another milestone, Chelsea City Manager Jay Ash tells the story about when he was a boy growing up in the city and his mother wouldn't let him play there because of all the trash and rundown factory buildings.

May

3

2013

North Shore CDC, YMCA combine to remake Beverly neighborhood

Celebrate opening of Holfcroft Park Homes Phase 2; Gloucester Crossing transformed

BEVERLY, May 3, 2013 --- Another chapter in the continued revitalization of Beverly's Gloucester Crossing neighborhood was marked recently as state and local officials gathered to celebrate the completion of Holcroft Park Homes, Phase 2.

April

11

2013

Housing RAP proving to be solid benefit for nonprofit developers

Helps get developer fee up front; has provided $1.2M in liquidity so far

BOSTON, April 11, 2013 --- Nonprofit developers using tax credits to develop affordable rental housing should consider using MHP's Housing Reserve Assurance Program (Housing RAP), which in two years has helped five community development organizations realize $1.2 million in developer fees that might otherwise have gone toward cash-funded operating reserves or other long-term reserves.

January

19

2013

No run of the mill story

WinnDevelopment transfoms Lawrence mill into rental housing

LAWRENCE, Jan. 19, 2013 --- In 2003, the MHP Board of Directors toured the City of Lawrence to look at affordable housing financed by MHP as well as possible future investments. One of their stops was Malden Mills, where WinnDevelopment's Larry Curtis gave a tour and talked about the potential of turning the hulking, dormant mill into housing.

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