Homeowners during the foreclosure crisis years ago truly believed BlueHub Capital, a non profit organization based in Boston, Massachusetts, would help homeowners save their homes, their major investment from foreclosure.  This promise seemed great to people like “R” from the South Shore.  He is a working family man, who fell on hard times.  That is life, hard times can happen to anyone of us.  It is not what he wanted to swallow his pride but keeping his family and home intact was the right thing to do.  He bought his home back from BlueHub who purchased it from Freddie Mac for $232,000 to $285,000 with a $10,000 down payment.  A little steep but again, you have to go through some pain in order to start over.  Everyone deserves a second chance.  18 month later “R” was in for a huge shock.  When “R” tried to refinance, the bank had red flags on his credit.  No bank would refinance his home because of Shared Appreciation Mortgage.  In order for “R” to refinance he would have to pay BlueHub the balance of his mortgage plus an additional percentage of his home equity.  “R” called BlueHub over and over again looking for some answer to this second mortgage from BlueHub.  The client service representative at BlueHub never returned “R” calls.  This was not what “R” signed up for working with BlueHub to save his home.  So what did “R” have to do.  He took out two loans, one to pay BlueHub the mortgage and the other loan to pay the Shared Appreciation Mortgage.   As “R” summed up his experience with BlueHub Capital.

This organization totally scammed me.  It is wrong for them to want to offer to help homeowners then turn around a place this additional mortgage on their homes.  BlueHub is only looking out for themselves and never really giving homeowners a second chance.  If that was the case, this nonprofit would never use this Shared Appreciation Mortgage at all.  It is unfair, and it truly makes me sick for all the other homeowners who have been duped by BlueHub Capital.  Thank goodness I was able to refinance, I can have a mortgage with a normal company that will treat me as a homeowner not a commodity for their investors.  I want to share this because BlueHub Capital keeps doing this and it is not fair to homeowners.  Homeowners need to stay clear of this nonprofit, a wolf in sheep’s clothing!

Now we are in the midst of a global pandemic.  BlueHub homeowners who have lost their jobs due to COVID-19 are not only trying to survive physically, they have the additional burden of fighting BlueHub Capital.  One of those homeowners is “L”, she is a retired nurse, breast cancer survivor, who lives in the North Shore of Massachusetts.  While Massachusetts has an eviction moratorium, BlueHub is fighting her in bankruptcy court.  BlueHub want to throw out her bankruptcy so they can foreclose on her home.  It is heartless.  “L” has bad knees and needs an operation.  She has been distressed because if not for BlueHub Capital’s Shared Appreciation Mortgage she would have refinanced her mortgage for a lesser rate and use equity to save her home.  But BlueHub wants 52% of her home equity!!  What “L” thinks of BlueHub Capital, the words would be more than obscene.  Her emotions go from anger to sadness. 

I cannot believe I have this nonprofit trying to take my home.  I think of all they money they want from me just because they are greedy.  Now I cannot fix my home, help with my grandkid’s education, I feel trapped and for what?  All this grief is because BlueHub Capital is just greedy.  I have to speak out because BlueHub Capital thinks they can get away with it.  BlueHub Capital does not pay my taxes, water bill, utilities, I do they best to move on and use my second chance to help my family and yet they want 52% of the sweat and tears I put in my home all these years.  BlueHub Capital seems very comfortable ripping off decent people and the politicians won’t do anything to stop them, so I hope good people will sound the alarm against BlueHub Capital.

Please support Massachusetts homeowners trapped with BlueHub Capital mortgages.   They are being cheated out of thousands of dollars of their home equity.  It is like the rich keep getting rich and those wanting to better their lives keep getting the raw deal from organizations such has BlueHub Capital.  We must stop this Shared Appreciation Mortgage.  The best outcome would be for BlueHub Capital to pay back all the ill-gotten gains they made off of past homeowners and stop the BlueHub Capital mortgage lending program altogether. 

Sign our petition, show your support for the homeowners demanding their economic freedom from BlueHub Capital.