BOSTON Attorney General Martha Coakley is announcing a new initiative (PDF) to help Massachusetts cities and towns with high rates of distressed and vacant properties cope with the recent foreclosure crisis.
Coakley says her office is now accepting applications for a $1 million grant program designed to identify and return bank-owned properties to productive residential use.
The program is a collaboration with the state’s registries of deeds. It relies on funds recovered by Coakley’s office through a recent multi-state settlement related to unlawful foreclosure methods.
Coakley said the goal of the program is to ease the effects of the foreclosure crisis throughout the state by helping property owners comply with all state and local ordinances to bring their properties into a state of good repair.
The application deadline is June 13.