Wednesday, December 11, 2013 / by John Armstrong
Chase Helping out Vets
Chase announced it will donate at least 100 homes it owns to wounded military veterans as part of a program operated by a national nonprofit group known as Operation Homefront.
Eligible military families must be on active duty, not currently own a home, and be financially capable of taking on home ownership. Spouses of military members killed in action will also be considered for the program.
"These individuals have made tremendous sacrifices for our nation, and as they move back into civilian life in a tough economic environment, we hope that a mortgage-free home will make that transition a little easier," Frank Bisignano, JPMorgan Chase Chief Administrative Officer and CEO of Mortgage Banking, said in a statement.
Military families can apply for the Homes on the Homefront program atwww.OperationHomefront.net/HomesOnTheHomefront.
The announcement comes months after Chase has taken steps to develop a foreclosure prevention and assistance program for military vets. Last year, Chase admitted to 14 wrongful evictions of military families. Other wrongful evictions of military families also surfaced from other banks last year, and the Justice Department is currently overseeing reviews by major banks of military members’ mortgages for any violations of the Servicemembers Civil Relief Act.
Source: MarketWatch and REALTOR® Magazine Daily News