Massachusetts Rental Voucher Program (MRVP)
(Line Item 7004-9024)- $35.4M
This request level funds the program and maintains the existing level of vouchers at the same benefit level.

Why MRVP?
MRVP helps tenants with low-incomes to pay their rent in private apartments, ensuring access to market-rate apartment for people with extremely low incomes. Rental assistance is the quickest, most efficient way to move people from shelter to permanent housing and to assist people with specialized housing needs to find housing. MRVP also provides operating support to produce new rental housing affordable to homeless and extremely low income people.

There are 5,100 tenants served by MRVP with approximately 150 additional committed to housing in development. This minimal request to maintain funding for each of these vouchers reflects the current budget crisis. As we work to prevent and end homelessness, additional rental assistance will be critical.

Foreclosure Relief Bill - An Act Relative to Stabilizing Neighborhoods, S. 1379 and H. 3571
This legislation includes a multi-prong strategy to address the Massachusetts foreclosure crisis. The foreclosure relief bill accomplishes the following six steps:

1) Includes a new mediation process for lenders and homeowners to work together to create a mutually-acceptable loan modification solution based on the net present value of the home. The mediation program would be voluntary but lenders that do not participate will have to wait 150 days to foreclose on the property.
2) Provides eviction protections to tenants in foreclosed properties who are in good standing and continue to pay rent.
3) Requires counseling in order to receive a reverse mortgage. A reverse mortgage is where a homeowner receives a loan on their home equity and the loan is paid back when the homeowner sell the home or passes away. Reverse mortgages are typically offered to seniors.
4) Creates an abandoned and foreclosed property registry to track distressed properties.
5) Encourages redevelopment of foreclosed properties by providing a local option to exclude nonprofits from property taxes during the term that the nonprofit rehabilitates the home and converts it into affordable housing.
6) Criminalizes mortgage fraud.