Mayor of Boston Mr. Marty stated at the Thurs Media briefing that 12 home loan providers in Boston will permit borrowers to postpone loan payments.
As per the Mayor, the postponement would continue for 3 months and maybe prolonged should conditions need it.
According to the Mayor, lenders have promised not to impose late charges or report mortgage payment default to credit bureaus.
Mayor has stated that homeowners should not be forced to pay any upfront payments with a lump sum and will be able to negotiate with lenders on a payment schedule.
Mr. Walsh also stated that the Boston Convention Center Area Medical Center might start operating as soon by Friday. The hospital has managed to get 1,000 beds for patients. 500 of which will be for homeless patients.