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Liabilities to Assets

Liabilities to Assets is a pilot program that the Department of Housing and Community Development (DHCD) created to help communities stabilize neighborhoods by redeveloping deteriorated properties that are considered a blight. The program will support the purchase and rehabilitation of primarily one and two family properties that have been vacant for at least 3 years at the time of development and have a negative impact on their surrounding neighborhood. The program is targeted to one and two family houses that can be acquired, renovated, and sold to owner occupants. Purchasers will have to agree to live in the newly renovated property for at least 7 years and provide evidence that they earn no more than 110% of the area median income (according to HUD’s most recent determination) at the time of the purchase transaction.


Current Homes for Sale

38 Lorchris St, Leominster, MA 01453
This property has been completely renovated through a pilot program from MA Department of Housing and Community Development and NewVue Liabilities to Assets, Inc. Convenient location with access to shopping and transportation. Total studs in renovation with new energy efficient HVAC, new bath, kitchen and appliances. Open concept with cathedral ceiling in living room. Available to income eligible owner occupant purchasers (family income not exceeding 110% area median). Sale will be subject to an Affordable Housing Covenant for 7 years to insure any resale is also to an income eligible owner occupant family. No offers will be accepted until completion of marketing and application period ending on June 9, 2020.
 
Further information about the property: