Preventing Foreclosures on Homeowners
On April 9th, Mayor Walsh announced that 12 of the largest housing lenders in Boston will offer at least three months (longer if needed) of deferred mortgage payments for homeowners who contact them and demonstrate they have been financially impacted by the public health crisis.
These lenders have agreed not to charge late fees or report non-payment to credit bureaus. After the deferral period, homeowners will not be required to pay the deferred payments in one lump sum. They will be able to work with their lenders on a repayment plan.
The 12 lenders that will offer this relief to homeowners include:
Bank of America, Boston Private, Cambridge Trust Company, Century Bank, Citizens Bank, City of Boston Credit Union, Dedham Savings Bank, Eastern Bank, Mortgage Network, Inc., Prime Lending, Salem Five Bank, and
Santander Bank.
Rental Relief Fund from Boston
The City of Boston has identified at least $3 million in City and federal funds that can be repurposed quickly to help tenants who can’t make their rent. This money will be targeted to households that have lost income due to the crisis, and who do not qualify for enough federal relief or unemployment benefits to make it up. The
Office of Housing Stability will use its existing networks to get this help to where it’s needed, quickly and fairly. Email
housingstability@boston.gov to learn more or apply at
boston.gov/rental-relief
The first round of funding has closed but you can sign up for updates in various languages at the website.
