JPMorgan Chase & Co.
Oct 12, 2012

Chase, will.i.am Open Homeownership Center in Boyle Heights

Center offers one-stop-shop for residents of East Los Angeles neighborhood

LOS ANGELES, October 11, 2012 – Chase and the i.am.angel Foundation announced today the opening of the Chase Homeownership Center in the East Los Angeles neighborhood of Boyle Heights.  The center will serve as a one-stop-shop for Boyle Heights residents as part of an innovative effort to help solve the community’s most pressing challenges.

“Boyle Heights is where it all began for me and I am committed to creating opportunities for the people who live here,” said will.i.am, Founder of the i.am.angel Foundation and native of Boyle Heights. “The Chase Homeownership Center is exactly the kind of thing this community needs to bring financial awareness and education to the families who need it most.”

“Our Homeownership Center here is part of our longstanding commitment to rebuild the highest-need neighborhoods and communities,” said Eric Schuppenhauer, Head of Mortgage Servicing at Chase.  “Together with will.i.am and our many partners, we will help Boyle Heights’ residents work to achieve their homeownership goals.”

The center will offer face-to-face counseling for borrowers who are struggling to make their mortgage payments.  In partnership with the non-profit 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.

The Chase Homeownership Center in Boyle Heights provides:

Chase also announced two grants to local non-profits to help Boyle Heights residents – all part of Chase’s $7 million commitment over three years to TRANS4M Boyle Heights.  The partnership with the i.am.angel Foundation and other non-profits addresses Boyle Heights' needs, including education, jobs and job training, health, home ownership and green space. 

The grants are:

“Through the TRANS4M Boyle Heights initiative, Chase is displaying the kind of commitment to Boyle Heights that will undoubtedly change and transform lives for the better,” said Councilmember José Huizar. “Working with will.i.am and community partners ELACC and the VEDC, the Chase Homeownership Center – as well as additional grants donated by Chase – will offer homeowner, financial counseling and small business assistance that are critically needed in our Boyle Heights community.”

To schedule an appointment with a housing or financial counselor, area residents should call (323) 262-2973.

About Chase

Chase, the U.S. consumer and commercial banking business of JPMorgan Chase & Co. (NYSE: JPM), has Homeownership Centers in 28 states and Washington, D.C. to help homeowners struggling to make their mortgage payments.  Through these and other efforts, Chase has helped more than 885,000 homeowners avoid foreclosure since 2009.

Chase serves consumers and businesses in California through more than 1,000 bank branches and 3,500 ATMs, and online and mobile banking. JPMorgan Chase employs more than 21,000 Californians.  In 2011, the bank and its Foundation contributed more than $66 million to nonprofit organizations in California, focusing on community development, education, and arts and culture.  More information about Chase is available at www.chase.com.

About i.am angel Foundation

will.i.am launched his private foundation in 2009 (formerly known as i.am angel foundation, presently known as i.am.giving foundation) around the idea of providing assistance to needy students wanting to attend college through a program entitled "i.am scholarship."  In 2012, in response to individuals, corporations, and funders expressing interest in supporting similar charitable activities, will.i.am created "i.am.angel foundation", which is seeking public charity status with the appropriate taxing authorities.  The foundation will be striving to trans4m lives through education, inspiration and opportunity, including by providing funding for other charitable activities, such as i.am.College Track, i.am.scholarship, i.am.STEAM and i.am.home.  To learn more, please visit www.iamangelfoundation.org