Exhibit 31.2



                      CERTIFICATION PURSUANT TO SECTION 302
                        OF THE SARBANES-OXLEY ACT OF 2002



I, Alan P. Hirmes, hereby certify that:

1.    I have reviewed this  quarterly  report on Form 10-Q for the period ending
      March 31, 2004 of CharterMac;

2.    Based on my knowledge,  this report does not contain any untrue  statement
      of a material fact or omit to state a material fact  necessary in order to
      make the statements made, in light of the  circumstances  under which such
      statements were made, not misleading with respect to the period covered by
      this report;

3.    Based on my  knowledge,  the  financial  statements,  and other  financial
      information  included  in this  report,  fairly  present  in all  material
      respects the financial condition,  results of operations and cash flows of
      the registrant as of, and for, the periods presented in this report;

4.    The  registrant's  other  certifying  officers and I are  responsible  for
      establishing  and  maintaining  disclosure  controls  and  procedures  (as
      defined in Exchange Act Rules  13a-15(e) and 15d-15(e)) for the registrant
      and have:

      a)  designed  such  disclosure  controls  and  procedures,  or caused such
      disclosure  controls and procedures to be designed under our  supervision,
      to ensure the material information  relating to the registrant,  including
      its consolidated subsidiaries,  is made known to us by others within those
      entities,  particularly  during the  period in which this  report is being
      prepared;

      b)  evaluated the  effectiveness of the registrant's  disclosure  controls
      and  procedures  and  presented in this report our  conclusions  about the
      effectiveness of the disclosure controls and procedures,  as of the end of
      the period covered by this report based on such evaluation; and

      c)  disclosed  in this  report  any  change in the  registrant's  internal
      control over  financial  reporting that occurred  during the  registrant's
      most recent fiscal quarter that has  materially  affected or is reasonably
      likely  to  materially  affect  the  registrant's  internal  control  over
      financial reporting; and

5.    The registrant's other certifying officers and I have disclosed, based on
      our most recent evaluation, to the registrant's auditors and the audit
      committee of registrant's board of directors or persons performing the
      equivalent functions:

      a)all  significant  deficiencies and material  weaknesses in the design or
      operation  of  internal   control  over  financial   reporting  which  are
      reasonably likely to adversely affect the registrant's  ability to record,
      process, summarize and report financial data; and

      b)any fraud,  whether or not material,  that involves  management or other
      employees  who  have  a  significant  role  in the  registrant's  internal
      controls over financial reporting.


Date:  May 10, 2004                By:  /s/ Alan P. Hirmes
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                                        Alan P. Hirmes
                                        Chief Financial Officer