From 12.10.2012 through 12.31.1202, Third Federal Savings & Loan will donate $100 to the United Service Organizations (USO) for every customer that originates a mortgage. Third Federal guarantees a total minimum donation of at least $100,000. Click here for more information.
Popular Community Bank opened fundraising accounts for the Food Bank for New York City and Salvation Army in New Jersey to collect donations for Hurricane Sandy relief efforts. The bank is donating $10,000 to each organization and will match third-party donations up to an additional $10,000. Also, Popular Community Bank is waiving all overdraft fees incurred due to delayed posting caused by Hurricane Sandy. Click here for more information.
The Bank of America Charitable Foundation has pledged $1 million to aid victims of Hurricane Sandy, including to the American Red Cross Hurricanes 2012 Fund. Additionally, the bank is automatically refunding overdraft, late payment, cash advances, and early withdrawal on a CD fees incurred by customers that live in the affected areas. Also, the bank has leveraged approximately 1,000 bankers to reach out to thousands of impacted customers and provide additional credit on favorable terms to help small business customers recover from the storm. Click here for more information.
Ally Financial is assisting customers in areas affected by Hurricane Sandy by offering a 90-day payment deferral program on the purchase of all new GM and Chrysler 2012 and 2013 vehicles financed by Ally. The payment deferral program is available from 11.07.2012 to 01.02.2013. Click here for more information.
Freddie Mac's full menu of relief policies for borrowers affected by disaster has been extended to homeowners whose homes were damaged or destroyed by Hurricane Sandy and are located in jurisdictions that the President has declared to be Major Disaster Areas. Freddie Mac has authorized the nation's mortgage servicers to provide a full range of mortgage relief options to affected borrowers with mortgages owned or guaranteed by Freddie Mac. Forbearance on mortgage payments for up to one year is one of several options servicers have been instructed to offer borrowers on a case-by-case basis. Other options include waiving assessments of penalties or late fees against borrowers with disaster-damaged homes and not reporting forbearance or delinquencies caused by the disaster to the nation's credit bureaus. Click here for more information.
Chase and the i.am.angel Foundation announced the opening of the Chase Homeownership Center in Boyle Heights, CA. The center will offer face-to-face counseling for borrowers who are struggling to make their mortgage payments. In partnership with the East LA Community Corporation (ELACC), the Boyle Heights center will also offer home-buying and financial literacy education for both Chase and non-Chase customers. Click here for more information.