Bank of Canton Closes Loan Under the MassHousing Home Saver Foreclosure Prevention Program.

April 2008- George DeMello, Senior Vice President of Residential Lending for Bank of Canton, is pleased to announce that the Bank has closed its first loan under the MassHousing Home Saver Foreclosure Prevention Program.

MassHousing implemented the Home Saver Foreclosure Prevention Program at the beginning the year in an effort to confront the foreclosure crisis. Bank of Canton began participating in the program at the beginning of March. Under the program, eligible participants will go through a mandatory counseling program to evaluate the situation before the loan is closed.

"I am thrilled to have been able to participate in the Home Saver program," said Michelle from Roslindale. "Every step of the way, from the phone counselor to the representatives at Bank of Canton, I was treated with kindness and respect. I was embarrassed and uncomfortable asking for help when I found myself in a bind due to my adjustable rate mortgage. When I closed my loan with Bank of Canton I felt as though I could breath normally again for the first time in over a year!"

"Home Saver borrowers are grateful to know there is a program out there designed to help people in their situation," said John Jones, Regional Lending Manager at the Bank of Canton "It was very gratifying to know this loan was going to assist a family in-need. The Bank hopes to close more loans under this new program in the future and help more families alleviate their financial burdens."

For more information or to find out whether you are eligible for this program please contact Bank of Canton at 888.828.1690 or contact the Homeownership Preservation Foundation at 888.995.4673.