- Division of Banks
In May 2020, the Massachusetts Division of Banks (Division) awarded $1,500,000 in grants to fund first-time homeownership counseling programs and foreclosure prevention education centers throughout the Commonwealth. Twenty awards in total were made to ten consumer counseling organizations and ten foreclosure prevention regional centers. This is the thirteenth-consecutive year the Division has awarded financial education and foreclosure prevention funds to support Massachusetts residents pursuing homeownership opportunities as well as those families working to stay in their homes.
First time homeownership counseling programs provide prospective homebuyers with resources to determine if homeownership is right for them and assist mortgage applicants with navigating the home-buying process. Foreclosure prevention programming assists homeowners who may be experiencing financial hardship or mortgage delinquency caused by either a loss of or reduction in income, a medical issue, or an unexpected life event—particularly now during this pandemic period.
Since the inception of the Chapter 206 Grant program in 2008, the Division has awarded more than $13 million to organizations that have been able to assist over 41,000 consumers. Chapter 206 grants are funded by fees associated with the licensing of mortgage loan originators. “These funds directly support community organizations who are deeply committed to ensuring that the residents of Massachusetts receive support in their pursuit of homeownership and home-retention,” said Commissioner Mary Gallagher.
The following organizations are the 2020 Chapter 206 grant recipients:
|
Regional Foreclosure Education Centers |
Geographic Area Served |
2020 Award |
|
City of Boston Department of Neighborhood Development |
Boston and vicinity |
$190,921.33 |
|
Fairmount Indigo Line Community Development Corporation / Codman Square Neighborhood Development Corporation |
Boston, Everett, Revere, Brockton, Malden, and Randolph |
$77,475.32 |
|
Homeowner Options for Massachusetts Elders (H.O.M.E.) |
Statewide |
$97,890.79 |
|
Home Preservation Coalition of the Merrimack Valley |
Merrimack Valley |
$94,208.47 |
|
Neighborhood of Affordable Housing, Inc. (N.O.A.H.) |
Boston and North Shore |
$89,696.13 |
|
NeighborWorks Housing Solutions (formerly NeighborWorks Southern Massachusetts) |
Brockton, New Bedford, and Southeast Massachusetts |
$120,225.10 |
|
NewVue Communities |
Fitchburg and Worcester |
$178,054.89 |
|
South Middlesex Opportunity Council, Inc. (SMOC) |
Framingham |
$45,044.15 |
|
Urban Edge Housing Corporation |
Roxbury, Hyde Park, Roslindale, Mattapan |
$74,712.96 |
|
Way Finders, Inc. |
Springfield, Berkshire, and Hampden Counties |
$186,770.86 |
|
Consumer Counseling Organizations |
Geographic Area Served |
2020 Award |
|
ACT Lawrence, Inc. |
Lawrence |
$65,400.39 |
|
Allston Brighton Community Development Corporation |
Allston and Brighton |
$18,063.59 |
|
Catholic Social Services of Fall River, Inc. |
Bristol County, Cape Cod, Provincetown, Nantucket, and Martha’s Vineyard |
$77,840.92 |
|
Chelsea Restoration Corporation |
Chelsea, Revere, Saugus and the surrounding communities |
$37,283.17 |
|
Ecumenical Social Action Committee, Inc. (ESAC) |
Boston and Eastern Massachusetts |
$18,786.10 |
|
Gloucester Housing Authority |
Cape Ann |
$17,547.45 |
|
Lawrence Community Works, Inc. (LCW) |
Lawrence |
$46,812.59 |
|
Merrimack Valley Housing Partnership, Inc. |
Lowell |
$19,529.28 |
|
Quincy Community Action Programs, Inc. (QCAP) |
Greater Quincy, Weymouth, Braintree, Milton, Randolph |
$19,508.64 |
|
Valley Community Development Corporation |
Northampton |
$24,227.87 |
|
Total: |
|
$1,500,000.00 |