East Boston Times Features SUN In “EBSB Helping Homeowners with Troubled Mortgages”

Wednesday, May 22, 2013

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.”