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4/1/2010
Advocate for the Injured
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Massachusetts Misses Out on $600 Million in Loan Modification Aid


April 1, 2010 - Washington - Five states will be receiving a total of $600 million in housing assistance from the federal government, but unfortunately, Massachusetts will not be among them.

According to reports by The Associated Press, the Obama administration is giving $600 million to 5 states, which will be in addition to any assistance given to banking institutions through the Home Affordable Modification Program (HAMP). The assistance was announced on Monday.

Ohio, North Carolina, South Carolina, Oregon and Rhode Island will all receive a portion of the assistance because they have high unemployment and meet other criteria set by the government. The money will be used to develop loan modification programs directly in the states, administered by the state housing agencies. States with the highest foreclosure rates, including California, Arizona, Florida and Nevada, are already set to receive $1.5 billion in similar assistance.

According to The Boston Globe, the unemployment rate in Massachusetts rose to 9.5% in January 2010, which represents the highest rate since 1976.



Category: Wrongful Bank Foreclosure



Legal Help for Wrongful Foreclosure and Seizure in Any State.  Phillips & Garcia, P.C., a leading law firm in wrongful foreclosure and seizure cases, is now taking cases in any state where there has been a wrongful foreclosure, lock-out and trash-out of a borrower's home.  We are licensed in Massachusetts and associate with a qualified attorney in your state. 




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