With all of the recent news about the housing crisis—where families are facing rising mortgage costs and foreclosures are already at record highs—5 banks in New England have decided to offer their help to homeowners.

With the encouragement of the Federal Reserve Bank of Boston, Sovereign Bank, TD Banknorth, Bank of America, Citizens Bank, and Webster Bank have partnered together and committed $125 million to create the Mortgage Relief Fund. Our goal is to help homeowners avoid delinquency and potential foreclosure by moving them into a more appropriate mortgage product.^*

Eligibility
This fund is aimed at helping homeowners who are in good standing with their current mortgage loan(s), but who may currently be having trouble making payments and may be at risk of losing their homes when their rates reset.

You may be eligible for consideration if:

• Your house is worth more than the total balance of your mortgage(s)
• You have generally made your mortgage payments on time
• You reside in the property, and
• You can document your current income

Even if you are not eligible for this program, we would like to work with you to try and find a solution.

Learn more about the Mortgage Relief Fund with our frequently asked questions.