At Boston Private, nothing is more important than the health and well-being of our clients. We understand the significant impact and financial hardship that unanticipated events can cause.
For those experiencing financial difficulty as a result of the COVID-19 pandemic, Boston Private is offering three months of payment deferment* on residential mortgages. We encourage our clients experiencing this financial hardship to reach out to us for this assistance.
To get started, please contact a Boston Private Collections Specialist:
- Call us at 855.211.7781 (Mon-Fri 9 A.M. to 5 P.M ET);
- Email us at [email protected]; or
- Write us at
Foreclosure Prevention Department
Boston Private Bank & Trust Company
10 Post Office Square Boston, MA 02109
For financial hardships unrelated to the COVID-19 pandemic, you may still contact us using the methods above to discuss available options.
* IMPORTANT DISCLOSURES ABOUT PAYMENT DEFERMENT:
- Finance charges will continue to accrue on my loan during the deferment period. For loans in principal and interest repayment, this means that, at the end of the deferment period, monthly payments will be applied to accrued and unpaid interest before they are applied to current interest or principal. It will likely take a number of months before this accrued interest is paid in full. For interest only payments, monthly interest payments will increase after the deferment ends, with interest accrued during the deferment being paid in equal payments over 12 months.
- As a result of the deferment, the total amount paid in finance charges over the life of the loan will increase and a larger payment may be owed on the date of my last monthly payment.
- The deferment period will extend the repayment term by the number of months of deferment. One monthly payment will be added to the repayment term for each month of deferment.
- The deferment does not reduce escrow payment obligations for items such as taxes and insurance, which may result in escrow account shortages or deficiencies that will need to be repaired through increased payments over a 12-month period following deferment.
If you have questions or need further assistance, additional resources for homeowners can be found at www.hud.gov, or by calling the U.S. Department of Housing and Urban Development (HUD) at 800.569.4287.
Boston Private is an Equal Housing Lender. All loans are subject to credit approval.
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