Your Options for Chase Mortgage Refinancing and Home Loan Modification
Chase has restructured countless mortgages using the chance provided by President Obama’s Making Homes Affordable Program during the last several months. Although not every homeowner who applies for a lower rate on their mortgage gets approved for refinancing or a home loan modification, there are a variety of choices accessible to struggling homeowners.
It is critical, however, to recognise that loan modification is a two-way street. Failure to make timely payments after a Chase loan has been amended could result in the modification being cancelled, leaving you with little options other than foreclosure. Here’s all you need to know about refinancing and house loan modification options for responsible homeowners who are having trouble staying in their existing property. Read this article
The first step in either refinancing your mortgage or requesting a loan modification is to speak with a Chase specialist who specialises in assisting homeowners who are struggling to make ends meet. Chase has now created dozens of Chase Homeownership Centers across the country where homeowners can meet with a specialist who will assist them determine what choices are available to keep them in their current house. If your location does not have a Chase Homeownership Center, staff with the same level of knowledge and training are ready to take as much time as you need over the phone to work through these difficult concerns.
However, before contacting a Chase representative, you should familiarise yourself with the fundamental alternatives made available to homeowners and lenders through the Obama Administration’s Make Homes Affordable initiative. While the program’s primary purpose is to assist people in restructuring their home loans so that they have a reduced monthly payment, not all applicants will be eligible.
Finally, since early 2010, Chase Mortgage has been offering alternate loan modification options to tens of thousands of homeowners who did not fulfil the criteria for aid through the federal programme. If homeowners fail to make regular payments on these modified loans or simply do not qualify, a deed in lieu of foreclosure or a short sale can be used to avoid foreclosure.