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Chase Loan Modification
[November 19, 2008]   by Foreclosure Help
Filed under: Chase Loan Modification Assistance

We have helped many homeowners stop foreclosure with Chase. We use all types of workout options but the one that works best is the Loan Modification with Chase. If you are facing foreclosure contact us today.

Below are homeowners that need foreclosure help we have helped.

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We live in San Jose California, my husband lost his job few months ago, we stretched the mortgage payment to our neck.  Although we are not behind our payment yet, but next month we don’t have money left in saving to meet our payment with my single salary at this point.  We wish to keep the home but unable to do that if we can not have a lower monthly payment in the near future on the mortgage.  I speak very little is her contact, she will help to do all the translation for me. We initially contacted Chase by English, and asked my relative to contact the bank of my behalf, the number given phone, but told to fill this form online as the initial point. yes, one of us lost job.  Our bank is Chase and we need a loan modification with Chase

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I live in Chico California and I have been going through a break up of a domestic partnership. The other party was collecting the rents but not paying the mortgage on this property. I was in bankruptcy and once it was over I got a notice that Chase is foreclosing on this home. I have a long time tenant that CAN pay the mortgage amount but no one wants to help us get it cleared up so he can stay and continue to pay the mortgage. I don’t need to refinance. I just need loan modification help with Chase

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I live in Berwyn, Illinois and I have a loan with Chase, and work got slow. Had a hard time making the payment with a 11% apr, and 600.00 per month mortgage insurance. They refuse to work with me, and are scheduled to foreclose on 12/2/08. Income is back on track, however, they want 36,000 dollars to stop the foreclosure. I do not have that kind of money laying around. Chase is the mortgage company. Chase foreclosure help

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I Live in Mojave, California In may 2008 my mortgage Co. adjusted my loan, but they send me two statements to pay one payment beginning of the month and the next one at the end of the same month and I couldn’t pay. What I want if you can help me modify my loan, if is possible combine my 1st mortgage and my equity line loan. My 1st mortgage company is Chase Home Finance and 2nd one is HFC, please give me loan modification assistance with Chase

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Foreclosure help in San Diego, We have an adjustable loan set to change next October.  We have made all payments, and all payments on the 2nd mortgage and are paying down that principal.  We would like to change into a 30 yr. fixed with rate below 6%.  we will have to sell if our loan adjusts beyond 6.5% which is likely at libor +3.85%, Chase mortage, they said they cannot help.  Our income was stated, now loan companies do not accept this and need full docs.  Even though we make all our payments on time and have good credit.  That will change next year if we don’t get security.  Home values around us are still real good. Chase loan mod

 

looking for Chase Loan Modification Help
[November 12, 2008]   by Foreclosure Help
Filed under: Chase Loan Modification Assistance, Uncategorized

When I purchased our home my wife and I had a very good income together. My wife was laid off from her job of 5 years, which cut our household income to nearly half. I was trying to maintain all of the bills (mortgage, utilities, healthcare, etc) along with raising our two daughters. Of

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Chase Loan Modification Assistance
[November 3, 2008]   by Foreclosure Help
Filed under: Chase Loan Modification Assistance

JPMorgan Chase & Co. on Friday became the latest major bank to beef up its mortgage modification efforts as the government also considers a plan to help homeowners avoid foreclosure.

JPMorgan’s expanded program aims to help avoid foreclosures on an estimated $70 billion in loans, which could help as many as 400,000 customers. The New York-based banking giant has already modified about $40 billion in mortgages, helping 250,000 customers since early 2007.

JPMorgan will not put any loans into foreclosure as it implements the expanded program over the next 90 days.

The $70 billion estimate is projected over a two-year period, but could be larger and last more than two years — as long as the company sees a need among troubled borrowers, said Charlie Scharf, JPMorgan’s chief executive of retail financial services.

“We think it’s the right thing to help as many people who want to stay in their homes,” Scharf said in an interview.

Scharf said the modifications at JPMorgan will range from reducing rates to extending terms to completely replacing products. Modification options will be given to customers based on their current product and needs, Scharf added.

The program will also be offered to customers with loans held by Washington Mutual Inc. and EMC. JPMorgan acquired Washington Mutual last month after the bank became the largest in the nation’s history to fail. EMC was a mortgage unit of Bear Stearns Cos., which JPMorgan acquired in February.

JPMorgan shares jumped $3.63, or 9.7 percent, to $41.25 on Friday.

With defaults mounting, lenders like JPMorgan and Bank of America Corp. have an incentive to get more aggressive about modifications, particularly because both lenders want to protect their brand image.

“These are very big, large retail banks,” said Dain Ehring, chief executive of Dorado Corp., a San Mateo, Calif.-based mortgage technology company. “There’s a vested interest in keeping their customers.”

Bank of America has said that starting Dec. 1, it will modify an estimated 400,000 loans held by newly acquired Countrywide Financial Corp. as part of an $8.4 billion, legal settlement reached with state officials in early October.

Meanwhile, the Bush administration is expected to soon announce a new plan to help about 3 million homeowners avoid foreclosure, though administration officials say several different ideas are on the table, and that no announcement is imminent.

The plan would be the most aggressive effort yet to limit damage from the U.S. housing recession.

The uptick in loan modification efforts was kicked off in August by the Federal Deposit Insurance Corp., which took over failed lender IndyMac Bancorp in July.

More than 4 million American homeowners with a mortgage were at least one payment behind on their loans at the end of June, and 500,000 had started the foreclosure process, according to the most recent data from the Mortgage Bankers Association.

Nationwide, almost one out of every five homeowners with a mortgage owes more to their lender than their properties are worth, according to a report released Friday by First American CoreLogic.

JPMorgan’s enhanced program will include the opening of 24 regional counseling centers, the hiring of 300 additional loan counselors, new financing alternatives, reaching out to borrowers with pre-qualified modification terms and a new process to independently review each loan before it is moved into foreclosure.

Face-to-face meetings with customers and adding staff to help customers in their neighborhoods was a key part of the program, Scharf said, adding that JPMorgan worked with community groups and local organizations to draw up the plan.

One of the biggest stumbling blocks JPMorgan has found in trying to modify loans is actually getting in touch with customers, he added.

When JPMorgan acquired Washington Mutual and EMC, it also acquired portfolios of mortgages that included option adjustable-rate mortgages. Also known as pay-option, or pick-a-payment mortgages, those loans allow customers to choose from multiple payment options, including paying less than the interest due, which in turn increases the balance of the loans.

JPMorgan, which did not originate option ARMs, said modifications for those loans would eliminate the option to pay less than the outstanding interest.

If you need a Chase loan modification contact us today

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