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Frequently Asked Questions

Where do I mail first payment?
Please mail your payments to:

Berkshire Bank
ATTN: Payment Processing
PO Box 4129
Woburn, MA 01888

How do I set up automatic payments?
You may access the Automatic Payment form on the Berkshire Bank loan servicing website. You may also stop into a local branch or call 1 (800) 773-5601 ext. 8564 and request that an automatic payment form be mailed or emailed to you. If you wish to set up automatic payments from an external financial institution, we will request a copy of a voided check be attached to your form. We require 15 day notification prior to your next due date.

How do I stop automatic payments?
Please stop into a local branch or call 1 (800) 773-5601 ext. 8564 and request that an automatic payment form be mailed or emailed to you. On the form, please indicate that you would like the automatic payments stopped. We require 15 day notification prior to your next due date.

How do I change my address?
You may access the Change of Address form on the Berkshire Bank loan servicing website. Please stop into a local branch or call 1 (800) 773-5601 ext. 8564 and request that a change of address form be mailed or emailed to you.

Can you send my statement earlier in the month?
Statements are already configured to mail at the earliest possible mailing date available in order to accurately reflect payment information.

Can I call and receive information about a loan that is not my own?
If you wish to receive information about a loan that your name is not on, a borrower or authorized representative of the loan must submit a written authorization for Berkshire Bank to speak with you about the loan.

How do I obtain a payoff quote for my loan?
Please email with your name, loan number, and the day you would like the payoff quote for. We provide a quote up to 15 days in advance.

I just paid off my loan. When will I receive my discharge of mortgage paperwork?
Once you have paid off your loan and submitted the recording fee, please allow up to 30 days to receive a letter confirming that your loan has been paid off and that a discharge of mortgage has been mailed to your local recording district.

Why do I have to pay to have my loan discharged?
Each state charges a fee to record a discharge of mortgage. The fee varies by state and, in some states such as New York, by county. As a convenience to our borrowers, Berkshire Bank collects this fee at the time of loan payoff and mails the discharge of mortgage and recording fee directly to the local recording district to expedite the discharge process. There may also be a processing fee assessed.

How do I get a discharge for an old paid off loan?
Please send us an email to with the subject “Old Discharge Needed” and include in the message your name, the date the loan originated, and the recorded mortgage.

I submitted the information about my old paid off loan. How long will it take to get the discharge?
Once the information has been received, it may take up to two weeks to prepare and mail the discharge to the local recording district.

What are the current loan rates?
If you are interested in applying for a new loan or refinancing your current loan, please stop into a local branch or call 1 (844) 277-0077.

How do I know if my mortgage loan application has been approved?
Please contact your mortgage loan originator directly or Berkshire Bank Home Lending at 1 (844) 277-0077.



Proof of homeowners insurance will be required annually. Please make sure your insurance agent has our correct mortgagee clause:

Berkshire Bank
PO Box 150
Northville, NY 12134

Proof of insurance can be faxed to 518-863-7362.

What is the difference between private mortgage insurance and homeowners insurance?
A homeowners insurance (or hazard insurance) policy covers loss from damages to your home, your belongings and accidents as outlined in your policy. Generally, mortgage insurance is required if you have less than 20% equity (or down payment) in your home and protects the mortgage lender from losses if a customer is unable to make loan payments and defaults on the loan.

How long do I have to pay for private mortgage insurance (PMI) on my loan?
If you obtained your loan after July 29, 1999, you can request cancellation of PMI when your loan- to-value (LTV) reaches 80%.

Cancellation requires that you have a good payment history, the property value has not decreased, and you can certify that there are no liensagainst your property.

Lenders are required (by the Homeowner's Protection Act of 1998) to terminate PMI at 78% LTV (based on the amortization schedule) if the loan is current or has reached the midpoint of the payoff.

Other circumstances may apply. Please contact Mortgage Loan Servicing for additional information.


Escrow Account:

What if I receive notification that my Condo Fees have change?
If your condo association adjusts the amount of your fees, we require written notification of these changes directly from you. 

I received a property tax bill, but my mortgage has an escrow account for property taxes. What do I do?
If you have an escrow account for property taxes, we will disburse the property taxes on your behalf.  You do not need to mail the tax bills to Berkshire Bank. Berkshire Bank will receive a bill directly from the municipality.  You can keep the bill for your records. 

I received a supplemental property tax bill and my loan has an escrow account for property taxes.  Will Berkshire Bank pay the supplemental property tax bill?
Payment of the supplemental property tax bill would remain the responsibility of the homeowner(s). The monthly payment(s) collected as part of an escrow account are for the scheduled tax payment(s) when they become due. A supplemental property tax bill is not a regularly scheduled tax payment.

When will an escrow analysis be completed on my escrow account?
Each year your escrow account is reviewed to determine if the amount being escrowed each month is sufficient to pay for any changes in your real estate taxes or homeowners insurance.  Berkshire Bank analyzes escrow accounts every year in May for a July payment change.

If I want to pay the shortage in my escrow account, where should I mail the payment?
Escrow shortages should be mailed directly to the escrow department at:

Berkshire Bank
Escrow Department
PO Box 1308
Pittsfield, MA 01202

What if we currently do not escrow, but would like to set up an escrow account?
Borrowers may voluntarily establish an escrow account. If this is of interest, please contact the Escrow Department at Berkshire Bank Loan Servicing.

When will I receive my surplus escrow funds after I pay off my loan in full?
Surplus escrow funds are typically returned within 10 business days after the date of the payoff transaction.  If you are moving, please be certain to provide your new mailing address.


Mortgage Account Management:

Do you accept bi-weekly or bi-monthly payments?
Payments should be made according to your regular repayment schedule. The repayment schedule cannot change after origination. You may make additional payments at your discretion, but please indicate at the time of submission how you want the additional payments applied, e.g. entirely to principal.

I am experiencing a financial hardship. What are my options?
If you are more than 15 days delinquent on your mortgage, please contact the Collections team at Berkshire Bank to discuss loss mitigation options. If you are not yet 15 days delinquent, or anticipate future hardship, please contact the Loan Servicing team and ask about available modification opportunities.

Can I pay my mortgage with my debit or credit card?
This is not an available payment method.

When do you apply a late Charge?
Late fees are determined by your mortgage loan documents in accordance with applicable laws and regulations.  If your payment does not reach us within the grace period specified in your mortgage loan documents, you will be assessed a late fee.


Auto Loans:

My vehicle was declared a total loss. Do I still have to make payments?
Yes, until the loan is paid in full you are still responsible repaying the balance even if a total loss occurs.

My vehicle was declared a total loss. How long does it take for warranty and/or Guaranteed Asset Protection (“GAP”) to be received and applied?
For warranty: 2-4 weeks from notice of total loss.

For GAP: 4-6 weeks from notice of total loss.

How long does it take to get my lien release?
If you pay with certified funds such as cashier’s check, cash, or your Berkshire Bank account; the lien release will be available immediately.  If you pay with a personal check, the lien release will be held for ten (10) business days.

Where is my title?
If you are in NY the title will be mailed to you from the DMV 6-8 weeks after purchase.

If you are in MA your title is electronic.

If you are in CT, VT, or TN the bank holds the paper title.

Any title questions please contact our title clerk.

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