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Issue of February 13, 2006 |     |
Wait GainA year and a half after the Massachusetts School Building Authority was formed to renovate the dilapidated School Building Assistance program, half of the state’s waitlisted educational facilities have learned the benefits of the revamped plan. Breath of Fresh Air The housing market in Massachusetts cooled a bit last year. The winds of change, however, were more akin to a welcome warm breeze on a scorching summer day than a chill, foreboding nor’easter. A Very Unappealing Case By Benjamin Fierro III It’s no secret that an abutter lawsuit challenging the approval of a housing development is an effective way to raise the cost of, and discourage, new housing construction. A case of first impression currently before the state Supreme Judicial Court could potentially broaden the class of plaintiffs who have legal standing to challenge comprehensive permits and strike a devastating blow to the zoning law known as Chapter 40B. New Bankruptcy Act Provisions Changing Real Estate Practices By Melvin S. Hoffman The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) was signed into law by President Bush in April 2005. BAPCPA effects major changes to the U.S. Bankruptcy Code. The changes wrought by BAPCPA reflect Congress’ desire to reduce the number of bankruptcy filings by making it more difficult for both consumer and business debtors to achieve debt relief in bankruptcy. Regrettably, BAPCPA is a poster child for breathtakingly poor statutory draftsmanship. As a result, disputes over the meaning and application of key provisions are inevitable. Borrowers Cashing Out Home Equity A full 80 percent of Freddie Mac-owned loans that were refinanced in the fourth quarter of 2005 resulted in new mortgages with loan amounts that were at least 5 percent higher than the original mortgage balances, the mortgage giant reported last week. This percentage is up from the third quarter of 2005, when the share of refinanced loans that took cash out was 73 percent, and is the highest since the third quarter of 2000. Check and Balance Banker and Tradesman's political cartoon. |
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