Total Mortgage Services has announced a deal with the state of Connecticut to expand its headquarters in Milford. The company said it will create 140 new jobs in the town, doubling its Connecticut workforce over five years.
Last summer, we told you the story of plans to knock down two of the biggest and oldest public housing complexes remaining in the city of Hartford. Officials at the Hartford Housing Authority hoped that developers would think big when it came to what's next.
In the past five years, 600 single-family homes have been demolished in Arlington, Va., many to make way for larger houses, according to a preservation group. One architectural firm is so determined to save one 1920s Sears kit house from demolition, it's giving the house away for free. But there's a catch: the buyer would need to pay to move it to a new location.
Connecticut officials are campaigning for the extension of a federal tax provision that expired at the end of last year. It's the tax relief provided for distressed families that have to sell their homes at a loss, or who go through a foreclosure.
“Invisible” is often a term used for homeless youth who fall through the cracks, who lack support and resources. Often, these young people are from minority groups, or are LGBT. Many come out of the foster or juvenile justice system. Fifty percent of them do not have a high school diploma.
It’s a sad story, and one that is hard to quantify, because there are few hard numbers on how many young people are on the streets.
Frequent WNPR guest and former Hartford Courant columnist Susan Campbell rode along with the Hartford Homeless Outreach Team early on Thursday morning. She works for Partnership for Strong Communities, which is working to end homelessness.
In a settlement deal, JPMorgan Chase has agreed to pay some $13 billion in fines and other payments related to mortgages and mortgage securities that helped cause the financial crisis that began in 2007.
Originally published on Tue November 19, 2013 5:38 pm
In an agreement settling many U.S. claims over its sale of troubled mortgages, JPMorgan Chase will pay a record $13 billion, in a deal announced by the Justice Department Tuesday. The plan includes a $4 billion payment for consumer relief, along with a payment to investors of more than $6 billion and a large fine.
The latest updates on this story are at the bottom of this post. We've also added a few key points to the main post.
Originally published on Mon November 18, 2013 8:45 pm
JPMorgan Chase & Co. will pay $4 billion to consumers who were hurt by faulty mortgage underwriting, part of a larger $13 billion deal to settle the bank's liability in the collapse of toxic securities during the housing crisis.
There are two office buildings in downtown Hartford that have long been vacant. Now, developers are about to buy them and turn them into something the city's core desperately needs: housing.
Hartford's recent wave of downtown investment has yielded a few lessons. One is that the city needs more rental housing downtown. More housing brings more people, and more people are what's needed to make a healthy downtown tick.
The physical damage from Typhoon Haiyan in the Philippines is catastrophic. Hundreds of thousands of people are now homeless.
Soon, though, people will start to rebuild, as they have after similar natural disasters.
How they do it, and where, is increasingly important in places like the Philippines. The island nation lies in a sort of "typhoon alley," and with climate change and rising sea levels, there are more storms in store.
Connecticut saw a boost in home sales in September. According to the Warren Group, a Boston-based real estate data firm, 2,326 single family homes sold in the state in the month. That’s up 21.4 percent from September of 2012.
The state will establish a loan fund for shoreline residents who want to raise their homes out of the flood zone. Thousands of shoreline homes and businesses were damaged or destroyed by flooding just one year ago, during Superstorm Sandy. And for many, that was a second time around, after Tropical Storm Irene the year before.
Originally published on Wed October 23, 2013 6:59 pm
A Manhattan jury has held Bank of America liable for fraud related to bad loans its Countrywide Financial Corp. unit sold to Fannie Mae and Freddie Mac as the housing market soured.
The verdict was returned on Wednesday after several hours of deliberation in a month-long trial that focused on loans Countrywide completed in 2007 and 2008, as the housing crisis was already underway. Countrywide was acquired by Bank of America in 2008.
It’s town ranking season again, and whether or not you think rankings like this really matter, it’s interesting that Connecticut Magazine is changing things up a bit. Instead of grouping towns based on population, which tends to favor the Greenwichs, Westports and West Hartfords, the magazine grouped towns based on average home value. That puts small communities with more affordable housing at the top of the rankings (hello Colebrook and Barkhamsted).
August saw a big boost in home sales in Connecticut, with 2,893 homes sold that month. It's the highest number of single family homes sold for that month in six years, up ten percent from the same month in 2012.
The Partnership for Strong Communities wants to know if you can find an affordable apartment in expensive Connecticut. Their new video game, Rent Roulette, allows you to role play. "Maybe you'll land a job that allows you to live where you want," they say. "But maybe, you’ll be like so many in our expensive state, and have to settle for something less." The game was designed by Ed Hogan of Manchester Community College, and includes real-time housing and labor data for Connecticut.
Think you can find an affordable apartment in expensive Connecticut? Play our new video game, Rent Roulette, and see. Maybe you'll land a job that allows you to live where you want. But maybe, you'll be like so many in our expensive state, and have to settle for something less.
Economists at the University of Connecticut are calling on the state to use bonds that have been approved by the legislature but never issued. The Connecticut Center for Economic Analysis forecast reports that if the state relies only on traditional drivers like the housing market to grow the economy, it could begin to lose jobs again in 2014.
Originally published on Tue August 6, 2013 4:33 pm
The Department of Justice announced Tuesday that it was suing Bank of America for allegedly lying to investors about the riskiness of about $850 million worth of mortgage-backed securities back in 2008.
It's been more than a half century since the state built two big public housing developments in Hartford -- nestled in neighborhoods that now include middle-class housing, the University of Hartford, and expensive single family homes. The housing developments are called Westbrook Village and Bowles Park. Over time, the units have grown too old and expensive to repair.