foreclosure

Codman Square NDC "Share Your Story" Contest - How Have Foreclosures in the Neighborhood Affected You?

How have foreclosures in the neighborhood affected you?  Read more

dana@csndc.com; 617-825-4224 x 135
Dana McQuillin

Foreclosure 'blindsided' his company, says Corcoran

The chief executive of the Corcoran Jennison Companies (CJ) says his company remains committed to advancing its development plans on Columbia Point, despite the loss of control over the 20-acre Bayside Expo Center.

In an interview last week in his fifth-floor office at 150 Mt. Vernon Street, Joseph E. Corcoran acknowledged that the plans are currently "on the shelf" due to the current economic downturn, but he is hopeful of reviving them within two years.  Read more

Dorchester Bay launches foreclosure prevention push

Dorchester Bay Economic Development Corporation (EDC) is teaming up with the national HomeFree-USA to prevent home foreclosure in local neighborhoods. Homeowners are asked to call 617-825-2213, 617-825-0561, or toll-free 888-701-5001 to receive additional information and begin free foreclosure intervention services.

“We are launching a ‘Foreclosure Intervention’ campaign in Metro-Boston during the month of June 2009. Our goal is to assist 1,000 homeowners during this time,” said Jeanne DuBois, executive director of Dorchester Bay EDC.  Read more

$1.6 million tax scofflaw finds shelter from foreclosure, again

Although times are tough and budgets tight, the Land Court can't seem to make a call in the city's largest property tax scofflaw case, which has now dragged on for almost five years.

Maxwell Products Corporation and owner Hal Cohen owe well over $1.6 million in property taxes and interest on a large industrial property at 65 E. Cottage St. and over $750,000 to a profit sharing and pension fund he said he would repay in an agreement with the Department of Labor.  Read more

Little hope seen in Obama's homeowner stability plan

Those on the frontlines of the foreclosure crisis locally are saying many who struggle to make their mortgage payments in the neighborhood may not be helped by President Barack Obama's new Homeowner Affordability and Stability Plan, announced last week.

"There's not much to be optimistic about," said Bruce Marks of the Neighborhood Assistance Corporation of American (NACA).  Read more

Bank-owned blight builds up near Fields Corner

So far, outside of a few hotspots like Hendry Street, the blight of the foreclosure crisis in Dorchester has been restricted to the occasional boarded up house or messy lawn. But Vivian Girard of Fields Corner's Five Streets Civic Association is seeing his neighborhood edge toward a darker future and he plans to keep a finger in the dyke that holds it back.

Walking around with Girard on Five Streets' turf - which includes Charles, Leroy, Ditson, Josephine, and Westville streets to the east of Geneva Avenue - the encroachment of decay is visible.  Read more

Fed report questions ownership assumptions

The mortgage troubles plaguing multi-family housing in parts of Boston are putting new strain on belief in the benefits of greater access to home ownership.  Read more

Activists 'break up' with bank

Tenant activists took to the streets Saturday in front of the Bank of America's Fields Corner branch: The group was protesting the bank's evictions of tenants in foreclosed properties. Photo by Chris Lovett.Tenant activists took to the streets Saturday in front of the Bank of America's Fields Corner branch: The group was protesting the bank's evictions of tenants in foreclosed properties. Photo by Chris Lovett.

Federally-backed mortgage giants Fannie Mae and Freddie Mac recently ended evictions of rent-paying tenants in foreclosed properties in response to the current economic crisis. Corporate lenders like Bank of America have held out, however, prompting a coalition of activists to take the battle to the streets.  Read more

Foreclosure activity nationally drops to June levels

The number of American homeowners dragged into the housing crisis fell last month to the lowest level since June as new state laws lengthened the foreclosure process, RealtyTrac reported last Thursday.

"We're going to have a pretty significant spike in January,'' said Rick Sharga, RealtyTrac's vice president for marketing. Plus, as job losses mount, "increases in foreclosure activity follow that pretty directly,'' he added.  Read more

Nuestra CDC begins its fight against blight

On the Roxbury-Dorchester border around Quincy and Dacia streets, the battle to stem blight caused by foreclosed and empty properties has begun. Nuestra Community Development Corporation acquired its first foreclosed three-decker at 21 Dacia, just inside the Dorchester border and right in the middle of one of three "Foreclosure Intervention Team" priority areas chosen by the city.

"We need to buy one building every month or two," said Nuestra director David Price this week.  Read more