Real estate brokers who wish to contribute to the advancement of homeownership in Massachusetts, including the creation of affordable housing and expansion of transitional housing services for low- and moderate-income families, are invited to participate in the Foundation's interest beneficiary program, a unique initiative through which REALTORS®, with consent from their buyers and sellers, may donate the interest earned from deposits placed in escrow to the MAR Housing Opportunity Fund (MARHOF).
Enrollment and participation in the MARHOF interest beneficiary program is easy. Brokers must file a one-page enrollment form with MAR, then follow guidelines set forth on the MARHOF bank set-up procedures form. In addition, program participants will need to insert an addendum into their firm's contracts for Offer to Purchase and Purchase & Sale agreements. The required forms and a sample addendum to attach to your contracts to obtain consumer consent for donating earnest money to the MAR Housing Opportunity Fund may be accessed via the links elsewhere on this page.
Developed in partnership with TD Banknorth in 2004, MARHOF was created to further the scope and magnitude of the MAR Charitable & Educational Foundation's Housing & Homeless Assistance Grant program. Annually, this program provides financial assistance to Massachusetts-based non-profit organizations that provide affordable housing, home buyer counseling, shelter and other emergency care services to persons transitioning from temporary to permanent housing.
To date, 30 local agencies across the Commonwealth have received grants from the MAR Foundation, and with your support of MARHOF we hope to expand the number and size of future grants provided by the REALTOR® community.