While I was visiting Fifth Third Bank in Ann Arbor I saw an “Open Letter to Fifth Third Customers”  posted at the teller desk. I started to read it and found the information to be very interesting and decided to share it with all our readers. Fifth Third Bank has started a program called “You Have Options…Michigan” which applies to their current mortgage holders, but is definitely something to consider when you are searching for a bank to provide you with a mortgage.

The Open Letter states:

“We know the current downturn in the economy has hit all of us in some way. Thousands in Michigan, especially those in automotive or related industries, are facing the most difficult  issues of a lifetime. As a result you may be finding it tough to meet payments on your credit cards and home loans. If so, you’re not alone.

Fifth Third Bank is responding to the personal hardships of its Michigan customers who have had an interruption in their employment with a program called, “You Have Options…Michigan.”

The program was developed to provide payment deferrals for those customers for up to 60 days. Customers eligible for the program will need to provide proof that the lay off is temporary….(contact phone number not included in this post)

Customers who have longer-term or more permanent challenges will be referred to the loss mitigation group…(contact phone number not included in this post) to evaluate a longer-term solution.

You can speak with an advisor who is skilled at assessing your situation, and assisting in the creation of a personal plan that may help retain what you’ve worked so hard to achieve, and to help develop a positive path to personal economic recovery. This process is completely confidential.

Please know that we are in this together. Fifth Third Bank is committed to Michigan and our Michigan customers. Let us know if we can help you. ”

-David F., Girodat

President &Ceo Fifth Third Bank Eastern Michigan