JP Morgan has had some good gains in the Making Home Affordable Program, but many homeowners are asking for more permanent home loan modifications to be made and shorter trial periods for homeowners seeking a home loan modification. While there have been more and more permanent home loan modifications made by JP Morgan, there have been some troubles as well.
There were reports that lenders were keeping homeowners in the trial phase of the home loan modification program longer than the required three month period, but JP Morgan was reportedly the lender that kept homeowners in a trial phase the longest, on average.
While the home loan modification program has had mixed reviews, there are many homeowners that have been helped in their mortgage as the majority of lenders have seen an increase in the number of home loan modifications that have gone from the trial phase to the permanent.
Homeowners with lenders like JP Morgan that have had a difficult time should continue to press forward in the home loan modification process, no matter the difficulties. While there is no perfect lender and the Making Home Affordable Program itself isn’t perfect, lenders like JP Morgan are seeing better numbers each month.