UnitedNY.org held a rally outside the Chase Bank branch on Linden Boulevard in Jamaica on Friday because, it claims, the financial institution gave home loans to individuals whom it knew could not repay them and then declined to help its clients when they were in financial distress.
In some sections of Southeast Queens 1.97 percent of single family homes have gone into foreclosure — five times higher than state totals, according to the group. The number of those in that section of the borough who owe more on their home than the dwelling is actually worth is about six times the state average.
Michael Fusco, a spokesman for Chase, said the bank has been actively aiding homeowners and in the last two years has helped 500,000 people nationwide avoid foreclosure. In New York alone, Chase has given more than 50,000 loan modifications to struggling borrowers, Fusco said.