Come back often to find out more about the Bills and Legislation being voted for on the floor that effects us all as landlords in the state of Massachusetts. Look for upcoming events on the calendar and be preparred to take action to make your voice known to the law makers that represent our communities.

Find out who your Representatives and Senators are www.mass.gov and click on “legislators” on your left or go directly to http://www.mass.gov/portal/government-taxes/branches-agencies/legislative/, or visit www.wheredoivotema.com and enter your street address to find out more information about voting.

Massachusetts Court Systems
Forms > Housing Court Forms

(posted 4-11-2014)


Here is the link from the Massachusetts Court Systems web site with over 50+ forms that you may need from the court house to set the legal wheels in motion when you need them. On this page you will find forms for Housing Court Small Claims, Supplementary Process Civil Matters, Criminal, and much much more. Visit this link and download the PDF files you think you might need our use to build up your library resources assist you in your property rental business.


(posted 4-25-2013)

John Adams Courthouse
One Pemberton Square
Boston , MA 02108

Joan Kenney/Erika Gully-Santiago

April 22, 2013

The Housing Court Department of the Massachusetts Trial Court this week announced the introduction of internet access to Summary Process, Small Claims, Civil and Supplementary Process case types that are currently available to the public. Case information can be accessed via the Trial Court’s eAccess internet site at www.masscourts.org.

The site allows users to conduct searches by case type, case number or case name. Users can find detailed instructions on the Housing Court page of the Trial Court’s website. Electronic access to all publicly available case types also continues to be available at public access computers at the five Housing Court divisions and at courthouses throughout the state.

“We are very pleased to increase accessibility to case information,” said Housing Court Chief Justice Steven D. Pierce. “Large numbers of Housing Court users are self-represented litigants and we believe that internet access provides them, as well as members of the bar, with more convenience and better service.”

Public internet access is made available through MassCourts, the Trial Court’s web-based, case management platform now utilized by six of the seven Trial Court departments. MassCourts allows real-time data collection and electronic data exchange with other entities and once fully implemented will replace 14 legacy systems. Internet access also is available to case information in the Land Court and to estate cases in the Probate and Family Court.

Important Information for all Landlords in MA: Landlord-Related Bills

(posted 4-11-2013)

Legislative Alert March 26, 2013
Contact: mrha@massrha.com
Massachusetts Rental Housing Association

Very Important!
Governor Patrick is proposing the Elimination of Massachusetts Housing-Related Tax Credits. He has included the elimination of these very important tax credits in his budget. Property owners are concerned for many important reasons. You should be aware of this attempt to affect your livelihood.


  • Owning a home is one of the best ways to build long-term wealth, providing both equity accumulation and tax benefits over time. Homeownership can serve as an investment for the future for individuals and families in the Commonwealth. The capital gains exclusion for the sale of a principal residence helps people build their wealth through homeownership.
  • The current Massachusetts law mirrors federal law and allow couples who file a joint tax return to exclude from taxation up to $500,000 of any gain in their home’s value. Single taxpayers (filers) can exclude gains of up to $250,000. This exclusion has had the very positive effect of enabling many people-especially seniors and those who may need to move for employment related reasons- decide to sell their home based upon their current housing needs without fear of an equity-destroying capital gains tax.
  • Based on the current long term capital gain rate of 5.25%, a married couple could face a tax bill up to $26,250 while a single tax payer would face a $13,125 tax bill in order to sell a home if this tax exclusion is repealed.
  • Repealing the capital gains exclusion would strip homeowners of equity and, according to research by the National Association of REALTORS® would cause home prices to decline further by an additional four to seven percent. At a time when the middle class is under increasing economic pressures, the capital gains exclusion should remain in place.
  • Nationally, housing accounts for more than 15 percent of the U.S. Gross Domestic Product – that’s $2 trillion. It is a key driver in our state and national economy. Home sales in this country generate more than 2.5 million private-sector jobs in an average year. For every two homes sold, a job is created. We need to make sure that any changes to current programs or incentives do not jeopardize a housing and economic recovery. 
  • Repeal of this tax benefit would severely harm our economy and hurt homeowners and the housing market in particular. The benefits of homeownership are clear:
    • Homeownership strengthens communities and neighborhoods;
    • Homeowners are more likely to be involved and engaged in local issues; this engagement helps prevent crime, improve childhood education and support neighborhood upkeep;
    • Owning a home has long-standing government support in the Commonwealth and across the nation, and;
    • Homeownership benefits individuals and families, and is integral to our nation’s economy 


  • This credit is intended to promote a lead-safe environment for children throughout the Commonwealth. It can alleviate a homeowner’s cost of de-leading a property and encourages lead-safe homes and rental units. In fact, the tax credit is likely the most important tool available for providing meaningful incentives to property owners to bring their units into compliance with the lead law. Children from birth to age six are at the greatest risk of lead poisoning due to the fact that their neurological systems are developing. Lead exposure can cause hyperactivity, aggressive behavior, learning disabilities, lowered IQ, speech delay, and hearing impairment 
  • The tax credit encourages the significant number of landlords who allow their properties to remain vacant due to the fact that they cannot afford to de-lead in order to bring the properties up to code and back on the market. While no hard data is available, estimates of the number of these “shadow apartments” in many of our urban areas are in the thousands. As we continue our slow, yet steady, recovery in our housing market, this proposed provision, if passed into law, would do nothing to help bring more lead- safe housing units back to the market. 
  • Although much progress has been made since the Massachusetts lead law went into effect in 1971, the fact remains that, according to the US Census Bureau, of the 2.8 million houses in Massachusetts, 1.7 million (or approximately 60%) were built before 1970. This means that there are likely thousands of property owners that may still take advantage of the tax credit. The tax credit is designed to encourage greater protection of our environment and children. Repeal will undoubtedly have a real, and negative, impact to both. 


  • This tax credit alleviates some of the financial burden of replacing or repairing a failed septic system. This is particularly true for those low- and middle-income residents who are struggling to meet their financial obligations in the current economy. First-time home buyers would also be greatly impacted if they could no longer rely on this credit, a credit that in many cases allows homeownership to become a reality.
  • In addition to the monetary incentive to taxpayers, the tax credit also encourages safe environmental practices by incentivizing upgrades and repairs; repairs that if not addressed, could have significant negative impacts on our environment
  • If repair or replacement of a system is required, as if often the case, homeowners or buyers can face very high costs to bring a system into compliance. Prior to the transfer of property (with certain limited exceptions), Massachusetts law requires that a septic system be inspected by a trained inspector. The current law affords Massachusetts taxpayers a 40% credit towards the cost of upgrades to their septic system with a maximum credit totaling $6,000. The largest tax credit that may be taken in any year is $1,500

The following is a letter that a member sent to his legislator. Please feel free to adapt this format to your own legislators.

Dear [Decision Maker],

As a Landlord and a constituent from your district, I am deeply concerned with Governor Patrick’s budget proposals to eliminate the capital gains exclusion, the lead paint tax credit and the septic system tax credit in the Commonwealth.

By eliminating the capital gains exclusion, the Commonwealth would be removing one of the main ways that families accumulate wealth for retirement and for purchasing their next home. Many growing families count on the equity they get from selling their home to move up the housing ladder into a larger home. Taxing home equity would make that move much more difficult. Additionally, eliminating the Capital Gains Exclusion will have its greatest effect on many Massachusetts residents that have lived here the longest, many of them seniors. It would ultimately impede the extraordinary efforts under way to revitalize our economy, which, along with our dire employment situation, is directly tied to the housing market.

The Governor’s proposal also includes a provision to eliminate the lead paint tax credit, a change that would put children at a greater risk for lead poisoning, which can have life-long, seriously debilitating effects. Specifically, the health of children of low- and moderate-income families who own or reside in older homes could be jeopardized. Finally, the Governor is also proposing to eliminate the septic system repair/replacement tax credit. As with the removal of the Lead Paint Tax Credit, this too would impact low- and moderate-income families the most, because it is those families who typically live in older homes.

As both a Landord and an advocate for housing opportunities, I stand with my fellow property owners and oppose these proposals. I respectfully urge you to REJECT the Governor’s proposals to eliminate these valuable tax credits. Thank you for your time and attention to this important matter.


The following are members of the House Ways and Means Committee that will be voting on whether to accept or eliminate these tax credits.
Brian S. Dempsey Chair
Stephen Kulik Vice Chair
Cheryl A. Coakley-Rivera – Assistant Vice Chair

· Angelo M. Scaccia
· Gloria L. Fox
· Thomas M. Petrolati
· Robert M. Koczera
· Christine E. Canavan
· Robert F. Fennell
· Kevin J. Murphy
· John P. Fresolo
· Walter F. Timilty
· Thomas M. Stanley
· William Smitty Pignatelli
· Carl M. Sciortino, Jr
· Cleon H. Turner
· Linda Campbell
· Paul McMurtry
· Lori A. Ehrlich
· Sean Garballey
· Michael D. Brady
· Carolyn C. Dykema
· Timothy R. Madden
· Nick Collins
· Carlos Henriquez
· Rhonda L. Nyman
· Viriato Manuel deMacedo
· Angelo D’Emilia
· Matthew A. Beaton
· Geoffrey G. Diehl
· David T. Vieira
· Donald H. Wong

Find out who your Representatives and Senators are www.mass.gov and click on “legislators” on your left or go directly to http://www.mass.gov/portal/government-taxes/branches-agencies/legislative/, or visit www.wheredoivotema.com and enter your street address to find out more information about voting.

Important Information for all Landlords in MA:
Landlord-Related Bills

(posted 4-12-2012)

The more landlords are reached the higher chance we have to change the anti-landlord MA laws so please forward this to other landlords. Tell them to send me an email to information@landlordsMA.com or call me at 978-853-7843 so I can add them to this email list. There are about 150 people so far. Help me make this list bigger by sharing.

Recent State House Activity:

HB386 – An Act relative to housing rights for victims of domestic violence
Action: H Reported favorably by Joint Committee on Housing as redrafted, carrying SB586

HB586 – An Act relative to housing rights for victims of domestic violence.
Action: S Attached to favorable report by Joint Committee of HB386

HB2273 – An Act relative to the modification of late fees
Action: H Extension order filed until April 27, 2012

HB2274 – An Act requiring the use of escrow accounts during rent disputes
Action: H Extension order filed until April 27, 2012

SB779 – An Act relative to rent escrow.
Action: S Extension order filed until April 27, 2012

SB855 – An Act relative to modification to summary process.
Action: S Extension order filed until April 27, 2012

HB2283 – An Act relative to consumer protection laws
Action: H Extension order filed until April 27, 2012

SB759 – An Act relative to the proximity of storage facilities utilized in possession of land or tenement cases.
Action: S Extension order filed until April 27, 2012

HB2257 – An Act relating to lead poisoning regulations
Action: H Extension order filed until April 27, 2012

HB2274 – An Act requiring the use of escrow accounts during rent disputes
Action: H Extension order filed until April 27, 2012

Bill Text for HB438 (HD869) of 2011-2012 Session
Action: H Extension order filed until April 27, 2012

Bill Text for HB489 (HD347) of 2011-2012 Session An Act to require actual injury under 93A – unfair and deceptive and a right to a Jury.
A Action: H Extension order filed until April 27, 2012

HB518 – An Act to require verified complaints in summary process actions
Action: H Extension order filed until April 27, 2012

HB1284 – An Act relative to the withholding of rent
Action: H Extension order filed until April 27, 2012

HB520 – An Act requiring rent escrow
Action: H Extension order filed until April 27, 2012

HB2164 – An Act relative to the proximity of storage facilities utilized in possession of land or tenement cases
Action: H Extension order filed until April 27, 2012

HB2257 – An Act relating to lead poisoning regulations
Action: H Extension order filed until April 27, 2012

HB2273 – An Act relative to the modification of late fees
Action: H Extension order filed until April 27, 2012

HB2274 – An Act requiring the use of escrow accounts during rent disputes
Action: H Extension order filed until April 27, 2012

HB1275 – An Act relative to rent escrowing
Action: H Extension order filed until April 27, 2012

Bill Text for HB1275 (HD1553) of 2011-2012 Session
An Act relative to rent escrowing

HB1274 – An Act relative summary to process modification
Action: H Extension order filed until April 27, 2012

HB1261 – An Act relative to capital relief in a counterclaim
Action: H Accompanied study order Joint Committee on Housing

HB2124 – An Act relative to rent escrow
Action: H Accompanied study order Joint Committee on Housing

SB1134 – An Act relative to Cimex Lectularius. (an act about bedbugs)
Action: S Accompanied study order Joint Committee on Public Health

Call to Action:

Click http://www.malegislature.gov/ find your legislator and tell them how you feel.

We oppose the domestic violence bill because we are not social workers or police. We must protect our right to evict tenants who are loud and fight all the time and /or destroy our property.

As far as the rent escrow bills tell them that mandatory rent escrow is needed to show that the tenant called the Health Board in good faith and not in retaliation to our Notice or Letter or something we said or simply because they ran out of money for the rent. If they can’t show that they have the rent is escrow (minus legitimate receipts to repair and deduct) then they cannot use that Health Board report against us. This abuse of process happens quite often and it is the most important overall issue for landlords in MA. WE NEED MANDATORY RENT ESCROW NOW.

As far as the storage laws tell them that they should allow us to choose any mover and/or storage company and they don’t need to be a public bonded warehouse. Tell them that after they added the 20 mile radius modification last year the choice has decreased and currently we only have 15 storage companies that we can use for evictions and that is for the whole state! Two years ago they were 29 which was too low to begin with. So…as we were warning the legislators the moving/storage companies have monopolies now in many areas of MA. Two years ago they were asking the landlord to pre-pay 2-3 months and now many of them are asking for all 6. In fact some people from the Department of Public Safety are telling them that “that’s the law.” Ask your legislator two questions:

a) if we pre-pay the full 6 months as many of these monopolies storage/moving companies insist, what happens if the tenant shows up on the 2nd month and collects their furniture. Who pockets the 4 pre-paid months?
b) the law says that after 6 months if unclaimed the storage company can auction the property and pay any unpaid storage fees only. If we had pre-paid the full 6 months who pockets the auction money?

As far as 93A unfair and deceptive practices tell them that the Supreme Judicial Court already said that actual injuries are required but enforcement is sporadic in Housing Court and some judges are still clinging to the past. We need better clarification of the law. In addition, it is un-American and un-Constitutional not to give 93A to the Jury even in factual cases with legal claims where at stake are double and triple damages and attorney fees. Such cases should always go to the Jury per our Constitution.

As far as lead poisoning tell them that before anybody automatically points their finger at the Big Bad Landlord an investigation needs to be conducted. We now know that lead can be found in many things unrelated to the landlord. The law needs to be updated.

As far as late fees tell them that if a bank is allowed to charge us late fees on the 15th for the mortgage then we should be allowed to do the same for the rent (where do they think the money for the mortgage comes from if not from the rents?)

Nothing here is to be taken as legal advice.

Institute for Environmental Education
It's Official, Massachusetts takes over RRP Rule Enforcement!

(posted 12-07-2010)

On July 9, 2010, the MA Division of Occupational Safety (DOS) took over the enforcement of the Renovation, Repair and Painting Rule (RRP Rule) making it the ninth state to assume control of the Rule. The MA DOS, in conjunction with the Executive Office for Administration and Finance made several changes to both the Deleading and Lead-Safe Renovation regulation and the Licensing Fees for Lead-Safe Renovation Contractors and Lead-Safe Renovator Training Providers. The following is a summary of the changes:

EPA RRP Firm Certification – Prior to July 9, 2010:
If you have already registered your Firm with the EPA prior to July 9, 2010 and you conduct your business in Massachusetts, you will only need to fill out the Lead-Safe Renovator Contractor Licensing Waiver Application and send this, along with a copy of the EPA RRP Firm Certification to the MA DOS (no additional cost).

NEW Lead-Safe Renovation Contractor – Beginning July 9, 2010:
If you have not yet registered your Firm prior to July 9, 2010 and you conduct your business in Massachusetts, you will need to fill out the Lead-Safe Renovator Contractor Application, provide a copy of the RRP Certificate obtained from the training course, and send it in with a bank certified check or money order for $375.00 to the MA DOS.

Note: A responsible person and/or manager must be RRP trained and certified prior to submitting this application.


If you conduct business in a non-EPA authorized state, you will need to fill out the EPA RRP Firm Application and send it in with a check for $300.00 to the EPA. Non-EPA authorized states in New England include New Hampshire, Maine, Connecticut, and Vermont. For more information, visit the EPA website.

If you conduct business in Rhode Island, you will need to send the following information to the Rhode Island Department of Health:

Lead-Safe Remodeler/Renovator Application with a check or money order for $40.00.
Copy of the certificate indicating the successful completion of an approved initial Rhode Island licensed training course, or …
Copy of the certificate indicating successful completion of an initial EPA accredited training course from a state other than Rhode Island, and a copy of the results of the Rhode Island reciprocity test proficiency certificate.

Deadline Extentions for Massachusetts Workers
It would appear that the September 30, 2010 extension to obtain Firm Certification and December 31, 2010 extension to complete the RRP training course for Massachusetts workers may not be honored by the MA Department of Safety. We’ll update you as the information becomes available to us.

Massachusetts Department of Safety (DOS) Fines
The MA DOS will fine $5,000.00 per day, per violation for any renovators not complying with the lead-safe work practices beginning July 9, 2010.

Click here for a complete list of all EPA authorized states. To access the amendments to the Lead Renovation, Repair and Painting Rule (RRP Rule) on the Massachusetts Department of Safety website, click here. To access the Massachusetts Department of Safety regulation, click here.

Roy Teresky
VP Sales & Marketing
Institute for Environmental Education

Small Business Jobs Act of 2010

(posted 12-06-2010)

Follow these links to find out more about how this new law will affect your rental businesses

Legislation includes increased IRC Section 179 expensing limits, “bonus” first-year depreciation, changes to treatment of small business stock, general business credit, and health insurance costs of self-employed individuals.

On September 27, 2010, President Obama signed into law the Small Business Jobs Act of 2010 (H.R. 5297). Provisions contained in the act include:

• Increased IRC Section 179 expense limits — Effective for 2010 and 2011, the Small Business Jobs Act increases the maximum amount that may be expensed under IRC Section 179 to $500,000 and increases the phase-out threshold amount to $2 million. The act also temporarily expands the application of Section 179 to up to $250,000 of certain real property (e.g., qualified restaurant property).

• First-year “bonus” depreciation extended — The Small Business Jobs Act extends the additional 50% first-year depreciation deduction that was in effect for 2008 and 2009 for one year, to qualified property acquired and placed in service during 2010 (or placed in service during 2011 for certain long-lived property and transportation property).

• Small business stock exclusion increased — The act temporarily increases the exclusion percentage for qualified small business stock to 100 percent, and does not treat the excluded gain as an alternative minimum tax preference item. Therefore, no regular tax or alternative minimum tax will generally be imposed on the sale of qualified small business stock issued and acquired after September 27, 2010, and before January 1, 2011, if the stock is held for at least five years.

• General business credit enhanced for small businesses — Eligible small businesses (generally, non-publicly traded corporations, partnerships, or sole proprietorships with gross receipts of $50 million or less) will be able to carry back excess general business credits up to 5 years in 2010, and will be able to use the general business credit to offset both regular and alternative minimum tax liability.

• Health insurance costs will reduce self-employment tax — For 2010 only, the deduction allowed to self-employed individuals for the cost of health insurance for themselves, their spouses, dependents, and children who have not attained age 27 as of the end of the taxable year will be taken into account not only for income tax purposes, but in calculating net earnings from self-employment for purposes of self-employment tax (Self-Employment Contributions Act “SECA” taxes). • Cell phones no longer listed property — Effective for tax years ending after December 31, 2009, cell phones are removed from the definition of listed property, significantly reducing the substantiation rules and depreciation limits that apply.

• New reporting requirements for rental property expenses — With some exceptions, starting in 2011 individuals who receive rental income from real property will be required to file an information return (Form 1099) when they make payments totaling $600 or more to a service provider (such as a plumber, painter, or accountant) in the course of earning rental income.

• Retirement plan Roth availability expanded — Beginning in 2011, governmental 457(b) plans will be able to allow participants to make Roth contributions. Effective immediately, 401(k) plans, 403(b) plans, and governmental 457(b) plans can allow participants to roll over pretax dollars into a designated Roth account under the plan.

• Portion of nonqualified annuity can be annuitized — Beginning in 2011, a portion of a nonqualified annuity (an annuity that is not held by a qualified retirement plan or IRA), endowment, or life insurance contract can be annuitized, provided the annuitization period is for 10 years or more, or is for the lives of one or more individuals. The portion of the annuity or contract that is annuitized is treated as a separate contract for purposes of federal income taxation, and the investment in the contract is allocated on a pro rata basis.

EPA Renovation, Repair and Painting (RRP)
Information & Registration

(posted 2-16-2010)

At our February 2010 NWCLA Meeting, board members Jeff Landry and David Fleckner announced information about the upcoming legislation that affects any of us as landlords who do maintenance repairs on our buildings, and run that property as a business to make a profit.

The new laws require that all landlords that fit into this category must be trained and certified in basic lead remediation. Please find below web site links, PDF forms to download and register, as well as other helpful information to instruct and guide you through this hot topic. The law goes into effect in April 2010 so please use this information to educate your selves as well as your property managers as soon as possible.

Please see attached several documents, brochures and listed the websites with the best info.
Hint – on the EPA web site – the red tool box is very helpful!


Please feel free to call Donna Kelleher at IEE Trains with any questions or to register for a class.

Donna Kelleher
Sales & Marketing
IEE – Institute for Environmental Education
Office (978) 658-5272 x248
Fax (978) 658-5435

(PB 365) New EPA RRP 8 hr Initial Class
$215 (7:30 AM – 4:00 PM) English
Feb 16, 17, 2010
Mar 1, 6, 12, 15, 2, 2010

In order to make registration easier for you, please send Donna an email with the following information for each person:

* Legal Name
* HOME address (EPA requires your Home address)
* HOME phone
* Last 4 digits of SSN (if you have it)
* Date of Birth (if you have it)
* Email address (optional)
* COMPANY Name & Address

Payment for the class is made the morning of the class

2010 Directions and Map to IEE Training (PDF)
CONTRACTORS Lead Safety During Renovation (PDF)
 EPA’s Renovation, Repair, and Painting Final Rule 40 CFR 745: Deadline: 4-22-2010 (PDF)
RRP Application and Instructions for Firms (PDF)
Renovator Repair and Painting (RRP) Questions (PDF)
Small Entity Compliance Guide to Renovate Right (PDF)

Mandatory Rent Escrowing

Click here to download complete PDF from Mass Rental Housing Authority (PDF)

Status: this bill has been submitted to the State House. At this time, Thomas Stanley (Representative from Waltham and Vice Chair of the Housing Committee) and Pamela Richardson (Representative from Framingham) are sponsoring the bill, we’re working on getting additional sponsors for the bill.

Objective: With the current legislation, a tenant can withhold rent if a call is made to the board of health and problems are found in the apartment. Unfortunately, in some cases, the tenant does not have the rent money and even after the problems are resolved, the landlord cannot get the rent.

The proposed legislative changes would require that a tenant put the rent into an escrow account if the landlord serves the tenant a notice to vacate and the tenant then proceeds to call the Board of Health to report problems. This is called the “Free Rent Trick”. The money to be placed in escrow would be the current rent minus any repair costs the tenant incurs to resolve the problem. While many opponents to this change state that this is a burden on the tenant, there are multiple indications that this is not.

  1. The tenant should have the money for rent. If this is a legitimate problem (i.e., furnace isn’t working etc), then the expenses incurred by the tenant in this situation can be deducted from the money put into escrow. The tenant should have receipts for these expenses.
  2. In some eviction situations, the tenant calls the Board of Health because they do not have the money and are looking for a way to stall an eviction.
  3. Some argue that a tenant should not have to escrow rent because he would lose his day in court (due process). However, there is currently precedent for a payment-first scenario in other areas of real estate.
    1. When a resident wishes to challenge the real estate tax imposed on his residence, he must first pay the tax and then challenge it. The law states that he must pay it before he can even challenge the assessment in court.
    2. Any condominium owner who wishes to challenge his condominium fee must first pay it before he can bring a court action.

Get The Lead Out Fund Eligibility

Click here to download Mass Housing (PDF)

Download this PDF bulletin from Mass Housing regarding the eligibility for the funds. Please share this important clarification with anyone you know who either works with – or may be in need of – a Get the Lead Out loan. I’m sure many of you have already received it, but I wanted to be sure to share it with everyone.

There seem to be remaining funds in the existing account that have not been applied for, perhaps partly due to various misunderstandings and miscommunications about eligibility guidelines. I hope this clarification will help us to promote the availability and facilitate distribution of existing funds in order to get assistance to those trying to bring properties into compliance with the Mass Lead Law and ensure healthier homes for families in our community.

We all hope that the GTLO fund can be fully renewed and that, in combination with other sources of renovation, rehabilitation funding eligibility guidelines can be even expanded to include more properties in need of lead abatement.

Phone Senators Today - HUD Lead Hazard Reduction Funding

As you know, President Obama and Congressional leaders are working on a recovery and reinvestment plan that attempts to address immediate economic needs, create jobs and invest in the infrastructure America needs for recovery. As you may know too, the House passed its version of the “stimulus” bill last week, and the Senate is expected to vote on its version this week.

Both House and Senate versions include an additional $100 million in funding for the Lead Hazard Reduction Program under the HUD Office of Healthy Homes and Lead Hazard Control. This additional funding could make a real difference in preventing childhood lead poisoning by creating more safe, affordable housing in communities around the country and across the Commonwealth, including our own.

However, it is not yet certain that this additional funding will appear in the final version of the stimulus. Please take a moment to call Senators Kerry and Kennedy today and tell them you support retaining this funding in the Senate version of the stimulus bill.
Kerry: (202) 224-2742
Kennedy: (202) 224-4543

IHere some helpful links for those who’d like to explore the proposed text in more depth:
House Version: http://readthestimulus.org/hr1_text.pdf (PDF page 229)
Senate Version: http://readthestimulus.org/s336_012709.pdf (PDF page 260)

Please call both of your Senators and say:

“Hello, my name is (your name here) and I am calling from the Northern Worcester Conty landlord Association. I am calling to ask the Senator to support retaining $100 million in additional funding for the “Lead Hazard Reduction” Program under the HUD Office of Healthy Homes and Lead Hazard Control as currently included in both the House and Senate versions of the stimulus bill.”

[Explain in 1 or 2 sentences YOUR LOCAL issues with lead paint, organization’s success in helping families, anything that makes it relevant for your legislator].

Thank the Senator for his support.

And thank you all again for your support.

National Association of REALTORS and Property Managers
Webinars of RRP rule

The National Association of Realtors is hosting additional free webinars on the RRP rule for REALTORs and property managers. The most recent session was for property managers on Wednesday, January 28 at 2:00 ET. The presentation has been changed from the previous December 18 session. NAR also hosted additional sessions for REALTORS and property managers on Thursday, February 4.

To review the webinars from December 18 go to:

Property Managers

Thanks to the National Association of Realtors for offering these webinars.

Tom Neltner
National Center for Healthy Housing
443-539-4160 (o) or 317-442-3973 (c)
tneltner@nchh.org or tneltner@nchh.info

FANNIE MAE Increase Number of Loans to 10 for Investors

Click here to download the Guidelines for Multiple Mortgages (PDF)

Fannie Mae, the mortgage-finance company under US Government control, recently announced that it would increase the investor loan limit that a real estate investor can have in it’s system to 10. It had been reduced to 4 with everything that has gone on in the mortgage market the past year. The company will expand its limit for investor and second-home loans to as many as 10 properties per borrower, according to a February 6, 2009 notice to lenders on Fannie’s website. This new policy will become effective March 1, 2009.

Both Fannie Mae and Freddie Mac imposed a reduction in the amount of properties and their rationale was was their belief that investors who own higher numbers of rental condos and houses pose a greater risk of default, foreclosure and loss for the companies. In fact the restriction effectively shut out many small investors from Fannie’s and Freddie’s standard programs — and pushed them into much higher-cost financing from so-called “hard money” lenders.

Highly qualified real estate investors play a big role in the economy of this country. The lending environment for investors is so hostile now, they are preventing good deals from responsible investors from happening. That is not helping the housing market.

Eligibility Qualifications

  • FICO Credit Score of 720+
  • High Reserve Requirements (vary per block of units owned)
  • 75% LTV (Loan to Value Ratio) or 25% down
  • No history of bankruptcy or foreclosure within the last 7 years
  • If investor is already over the 4 properties, refi LTV is 70%
  • No delinquencies by the borrower on any loan within the past 12 months
  • Rental income from the currently owned properties must be supported by two years’ federal income tax returns.