Boston Real Estate – Foreclosure News
From the Boston Herald:
Massachusetts will receive $43.6 million, and four cities – Boston, Brockton, Springfield and Worcester – will get a direct allocation totaling $11 million.
Under the program, part of a housing bill Congress passed last fall, cities can use the money to purchase and rehabilitate foreclosed properties and make financing available for the purchase of these homes.
The money can also be used to demolish blighted properties.
Potential buyers will be required to complete eight hours of homebuyer counseling from a HUD-approved agency.