Several major state-chartered banks and mortgage servicers have agreed to offer relief for home mortgage borrowers in Sandy-affected areas, including no foreclosures and late fees for 90 days, Governor Andrew announced today.
In the state, some of those banks include Apple Savings Bank, Dime Savings Bank of Williamsburg, Emigrant Savings Bank, M&T Bank, New York Community Bank, Ridgewood Savings Bank, Hanover Community Bank and others, and the state registered mortgage servicers Citi Mortgage, Homeward Residential, Ocwen Loan Servicing and Nationstar.
“Thousands of New Yorkers lost everything, while others are struggling with no electricity and limited ability to travel or communicate. As a result, some people may be late in payments on mortgages or incur other bank fees and penalties. I’m proud to say that major New York State chartered banks and registered mortgage servicers have agreed to waive fees and penalties so borrowers, who are already facing the difficulties and expenses of recovering, won’t have this additional cost. I call on any state chartered banks and mortgage servicers that have not yet provided relief programs to borrowers to follow suit,” said Cuomo.
