Editor’s Note: This article was written and submitted by Greg Sleter.
Local residents working to repair their homes damaged by Hurricane Sandy will be able to have faster access to insurance payments.
Gov. Andrew Cuomo said on Thursday that several leading banks and mortgage providers have agreed to remove “stringent” requirements that delayed money from being released to area homeowners in need.
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According to the Governor, the need to have insurance claim checks endorsed by banks or mortgage providers prior to homeowners cashing the checks led to delays.
“Homeowners need help now and that’s why insurers are sending advance checks to meet their immediate needs,” said Cuomo. “Any delay in making these types of critical home repairs can mean the difference between a family being able to live safely in their home or remaining needlessly displaced for weeks or even months.”
Banks and mortgage providers taking part in the agreement are Bank of America, Citi Mortgage, JPMorgan Chase N.A., Wells Fargo Home Mortgage, Apple Savings Bank, Dime Savings Bank of Williamsburg, Emigrant Savings Bank, Homeward Residential, M&T Bank, Nationstar, New York Community Bank and Ocwen Loan Servicing.
State officials also said that the grace period on mortgage payments has been expanded for another three months. This additional time will allow New Yorkers affected by Hurricane Sandy to catch up on their payments without having to face collection agencies or a lowered credit score, Cuomo said.
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State: Homeowners Will Get Sandy Insurance Payments Faster
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Bobby Stokel May 21, 2013 at 11:17 am
Thank you to everyone so far in showing your support. We still need more signatures so please help…Read More :-)
Michael Ganci (Editor) May 20, 2013 at 12:37 am
We just posted. I was at the scene. Hope this helps! MG…Read More http://merrick.patch.com/groups/breaking-news/p/woman-struck-by-train-at-merrick-lirr-station
Zach T May 17, 2013 at 07:20 pm
The School board is a bunch of morons if they want to remove this designation! There were 0 problems…Read More like this when Malucci was in office, this new superintendent is a waste of space, money, and cares more about his own paycheck then our kids! Between school security, and now this, I motion that we get rid of that skell!
Dr. Kim Lurie May 16, 2013 at 12:54 pm
Bless you, Anthony. And though I know ultimately the "Judge" will have to be held…Read More accountable by a higher authority...those of us who do this work, have not forgotten nor will we allow the system to forget what her role in this travesity was.
Anthony Merlo May 16, 2013 at 10:24 am
Thank you for this wonderful article on a good man pushed to the brink. I appriciate the fact this…Read More came form the heart and did not hold back. As Sacristan at Cure of Ars, I had the pleasure of working with Dr. Rich (as I called him) for some time. He was a man of faith and a pleasure to see. Always with a smile and kind word, you would never know what was going on the way he acted. This was a wonderful and insightful article. It is heartbreaking to think that where there was once love between 2 people, things got to the point where one persons life was destroyed by those who could and did for no apparent reason other than having the ability to do so. God will have mercy on Dr. Rich and the ex-wife and "Judge" should pray for the same given their actions.