Affordable Housing Trust facilitates sales of deed restricted properties in Massachusetts

The Affordable Housing Trust Fund meeting held on June 11, 2025, in Revere, Massachusetts, focused on strategies to facilitate the acquisition of deed-restricted properties and support potential homebuyers in the area. The meeting highlighted the importance of collaboration with local real estate professionals and the Massachusetts Housing Partnership to enhance affordable housing opportunities.

During the meeting, members discussed the possibility of acting as facilitators rather than direct purchasers of deed-restricted properties. This approach aims to connect property owners with qualified buyers without the trust taking on the financial risks associated with property ownership. By leveraging existing resources, the trust can assist in marketing these properties and guiding potential buyers through the purchasing process.

Currently, there are five individuals approved for the first-time homebuyer down payment assistance program, but they have yet to secure funding due to challenges in finding affordable homes. The trust plans to utilize its resources to help these buyers, including offering down payment assistance and connecting them with lenders who provide affordable financing options.

The meeting also addressed the need for ongoing communication with property owners who may be interested in selling their deed-restricted homes. The planning and community development department will reach out to these owners to gauge their interest and explore potential sales.

Overall, the meeting underscored the trust's commitment to facilitating homeownership and addressing the affordable housing crisis in Revere. By preparing to assist both buyers and sellers, the trust aims to create a more accessible housing market for residents in need.