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.
Follow Merrick Patch on Facebook by clicking here.
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.
MORE TOP NEWS
State: Homeowners Will Get Sandy Insurance Payments Faster
Boards
All Boards »
Michael Ganci (Editor) June 14, 2013 at 09:13 am
You should add this to our map!…Read More http://merrick.patch.com/groups/week-ahead/p/holding-a-yard-sale-in-merrick-add-it-to-our-map_1b4961d5
Michael Ganci (Editor) June 12, 2013 at 08:19 am
You should add this to our garage sale map!…Read More http://merrick.patch.com/groups/week-ahead/p/holding-a-yard-sale-in-merrick-add-it-to-our-map_1b4961d5 MG
tim stimus June 13, 2013 at 08:27 am
Is the Merrick LIRR parking permit issue going to be addressed? The parking situation is out of…Read More control !
(Here is the information from the flyer) FEMA RESOURCE AND INFORMATION SESSION Brown Memorial Baptist Church would like to extend the invitation to all who were affected by Hurricane Sandy to join us for a resource and information session with FEMA (Federal Emergency Management Administration). WHEN: Sunday, December 16th from 2:00-4:00 PM (following 11:00 AM worship service) WHERE: Brown Memorial Baptist Church 484 Washington Avenue Brooklyn, NY 11236 (Fellowship Hall – Enter on Gates Avenue) WHO: FEMA and other reputable Disaster Relief Specialists (Presentation, Q&A, Individual Counseling) WHAT TO BRING: Claims, Insurance Information, Questions, Applications, Appeals, Documents in process or in need of review, etc. Please share this invitation with friends, family and neighbors who have been impacted by the storm and are in need of support, and join us for worship at our 11:00 AM service prior to the presentation. Light refreshments will be served. We look forward to seeing and supporting you during this time of restoration and rebuilding. This is the link from where I got this information:: https://www.facebook.com/events/512631872104181/