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Bank Reps To Help Sandy Victims Cash Insurance Checks

A tree on a car in Center Moriches, NY (credit: Hannah Sophia Kim)

A tree on a car in Center Moriches, NY (credit: Hannah Sophia Kim)

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Superstorm Sandy

NEW YORK (CBSNewYork/AP) – Help is on the way for superstorm Sandy victims who have already received settlement checks from their insurance companies.

The New York Department of Financial Services says five of the state’s largest banks and mortgage services will have representatives available for a week starting on Monday to help homeowners cash insurance settlement checks.

Lender representatives from JPMorgan Chase, Wells Fargo, Bank of America, CitiMortgage and Ocwen Loan Servicing will be at Disaster Assistance Centers on Long Island and New York City through Saturday to help owners complete steps for their banks endorse the settlement checks that are often written jointly.

Representatives from Assurant will be on hand on behalf of dozens of smaller banks and mortgage servicers.

The centers are in Long Beach, Seaford, Copiague, Averne and Staten Island.

The department says it recently found banks holding more than $200 million in insurance funds from Sandy victims.

(TM and © Copyright 2013 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2013 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)