Boston Community Capital’s SUN Initiative was featured in the Easton Boston Times article “EBSB Helping Homeowners with Troubled Mortgages.” The article, written by John Lynds, discusses the $25 million investment East Boston Savings Bank has made in Boston Community Capital’s SUN Initiative. Lynds writes:
“The East Boston Savings Bank has made a $25 million loan to Boston Community Capital (BCC) that could potentially help 1 in 5 homeowners with troubled mortgages nationwide. The deal was finalized last week and arranged by Zions Bank’s non-profit public finance group, Stabilizing Urban Neighborhoods (SUN) Initiative.”
“The deal between EBSB and BCC is a first of its kind investment backed by revenue from a pool of mortgages SUN has made to homeowners who were previously facing foreclosure.”