Lexington, MA– Last week, BlueHub Capital, a lending agency notorious for preying on vulnerable homeowners, was found in violation of predatory lending practices. The scheme was simple but devastating: families facing foreclosure were offered “relief,” only to discover hidden provisions that forced them to surrender up to 50% of their home’s future appreciation to BlueHub.
At the center of this operation is Elyse Cherry, a longtime friend and mega-bundler for Governor Maura Healey, who serves as BlueHub’s CEO. BlueHub was sued four years ago for deceptive lending practices. Yet in what reeks of outright corruption, Governor Healey quietly inserted a provision into her Economic Development bill that retroactively shields BlueHub from this lawsuit protecting her ally while abandoning the victims.
Republican gubernatorial candidate Mike Kennealy condemned the move, declaring:
“This is a betrayal of trust and an insult to every family that was preyed upon. When you have a company accused of exploiting homeowners and a Governor who takes money from its CEO, then quietly slips into law a retroactive shield for that company, every alarm bell in Massachusetts should be blaring. It is a political favor at its worst – cynical, corrupt, and cruel to the very people the government is supposed to protect. The process behind this legislation must be investigated, and Maura Healey must be held accountable.”
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