What Is D’Hogares?

d hogares (of Homes) program is intended to share what Doral Bank has to offer, beyond its financial commitment to the community. Aiming to help families secure their most priced possession, this expansive social initiative includes both the loss-mitigation and the home donation programs, assisting and enabling families to have a home, or keep the one they already have during these tough economic times.

The loss-mitigation program provides homeowners experiencing financial difficulties with an opportunity to keep their property through various loan-restructuring solutions. Since its inception in the fourth quarter of 2007, Doral has helped 16,500 in financial distress to keep their home. Doral associates work with each family in a personalized family offering a solution that fits their particular situation.

The second part is an unprecedented home donation program that gives homes to families who would otherwise not be able to own one. Developed in 2009 in collaboration with municipalities that select the families based on need, Doral rehabilitates these homes in low-and-moderate income areas.

This year, Doral is donating fifteen homes with a total approximate value of $1 million. These are located throughout the island in Arecibo, Dorado, Vega Baja, Toa Alta, Corozal, Cidra, Carolina, Guayama, Humacao, Trujillo Alto and Cayey.

Through d hogares, Doral is converting a problem, which are repossessed properties, into a solution by donating and repairing them. By doing this, Doral is also contributing to the rehabilitation of abandoned properties, a serious urban problem for municipalities.

As part of the housing rehabilitation, Doral associates work directly with the municipality mayors and together provide the necessary hand labor, including setting up the electricity and plumbing, as well as painting, landscaping, installing doors, windows and kitchen or bathroom fixtures, depending on the need.

Corporate partners have also joined in this innovative initiative, including Benjamin Moore and Glidden, donating the paint, A La rden Discount, donating the furniture and bathroom equipment, Yemit Contractors, providing their time and expertise, COSTCO, providing purchase vouchers, and Whirpool, donating appliances.

Donating more than $1 Million in houses, and enabling over 16,500 families to own and stay in their homes, d hogares has now provided the means for about 52,000 people to have a place to call home. Conocimiento Efectivo, is embedded within all of Doral Bank’s community outreach programs including d hogares, offering financial education and guidance to adults and children alike.