Rhode Island Housing has announced a new reverse mortgage assistance program that offers up to $50,000 to eligible senior homeowners with reverse mortgages who are behind on property-related charges like taxes, insurance, and homeowners' association fees. The program uses federal Hardest Hit Funds to prevent foreclosures and stabilize the housing market. Seniors must have a documented financial hardship and have exhausted other options to qualify.

1. 7/7/2017 R.I. Real Estate Notes: Reverse mortgage help available to seniors facing foreclosure
http://www.providencejournal.com/news/20170707/ri-real-estate-notes-reverse-mortgage-help-available-to-seniors-facing-foreclosure 1/3
By Christine Dunn
Journal Staff Writer
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Posted at 8:30 AM
Rhode Island Housing has announced a new reverse mortgage assistance
program to help senior home owners with reverse mortgages who are facing
foreclosure.
The program offers up to $50,000 to eligible seniors with reverse mortgages
who are behind on their property charges. The money can be used to pay
property taxes, homeowners’ insurance and homeowners’ and/or condo
association dues and other property-related charges.
The program uses federal funding from Hardest Hit Fund Rhode Island, which is
administered through Rhode Island Housing. The U.S. Treasury provided
Hardest Hit program funds to prevent foreclosures and stabilize the housing
market.
HHFRI is only available to homeowners who have a documented qualifying
financial hardship and have exhausted all options to avoid foreclosure.
To apply for assistance or learn more, please visit www.HHFRI.org.
Blackstone Blvd. home sold for $1.65M
A historical house at 436 Blackstone Blvd. in Providence was sold June 21 for
$1.65 million, according to Residential Properties Ltd.
R.I. Real Estate Notes: Reverse mortgage help
available to seniors facing foreclosure

2. 7/7/2017 R.I. Real Estate Notes: Reverse mortgage help available to seniors facing foreclosure
http://www.providencejournal.com/news/20170707/ri-real-estate-notes-reverse-mortgage-help-available-to-seniors-facing-foreclosure 2/3
The agency handled both sides of the transaction, with Christina Ardente
serving as the listing agent, and Jim DeRentis as the selling agent. Deed records
identify the seller as Richard Gilder III, and the buyer as Marc A. Greenfield,
trustee of the Blackstone Boulevard Trust — 2017.
Known as the J. Richmond Fales House, the brick Tudor Revival residence was
originally built in 1928 by architect Marshall B. Martin for J. Richmond Fales.
Fales was a textile-manufacturing executive and was an involved alumnus of
Brown University. The house sits on a 10,018-square-foot lot.
Touisset compound sold for $1.6M
A private two-home compound at 18-20 Stonegate Rd. in Warren’s Touisset
section was sold June 30 for $1.6 million, the highest sale in Warren since 2012.
The property includes 2.35 acres with 500 feet of water frontage.
Lila Delman Real Estate International was both the listing and the selling
company. Christine Dupuis represented the seller, and Ken Schadegg facilitated
for the buyer. According to Warren records, the seller was James Alves, who
bought the property in 2002 for $750,000.
The renovated, 5,000-square-foot main house is a classic example of 1920s
shingle-and-stone architecture. It has a spacious cook’s kitchen, five bedrooms
and four bathrooms, along with a beach stone fireplace, and a number of porches
and terraces.
A carriage house for guests and autos has been recently built with a huge living
room, floor-to-ceiling stone fireplace, a small kitchen, and a bathroom on the
ground level. A grand staircase leads to a large sleeping loft space with its own
half bath. A sun terrace with water views is also on this level.
3 Edgewood homes sold together for $1.25M
Three houses in the Edgewood Historic District in Cranston were recently sold
together as a package for $1.25 million, according to Steele Realty Consultants
International.

3. 7/7/2017 R.I. Real Estate Notes: Reverse mortgage help available to seniors facing foreclosure
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The George H. Flint House, at 79 Shaw Ave., the Emma L. Flint House, at 1299-
1301 Narragansett Blvd., and 56 Columbia Ave. had all been purchased by D and
R Realty Holdings LLC in 2015, according to Cranston records. Daniel Silva of
Providence is the authorized person for the LLC. No information was
immediately available about the buyer.
Shamila Ahmed of Steele Realty Consultants represented the buyer. Ed Kazarian
of Patriot Realty represented the seller.
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