Will JP Morgan Participate In The Expanded Home Loan Modification Program?

JP Morgan is one of the most successful banks that has emerged from the recession and they have also seen some great results in the Making Home Affordable Program, as home loan modifications with JP Morgan have been on the rise.

However, there are reports of problems with JP Morgan from customers, but that is not specific to just JP Morgan in the home loan modification program, but there are reports that JP Morgan Chase isn’t looking to participate in principal reductions.

Many homeowners are looking for solutions to underwater mortgage troubles and unemployed homeowners are in need of assistance that may not be provided by a traditional home loan modification.

While JP Morgan hasn’t said they are not going to participate in the unemployment forbearance programs or principal reductions that are part of the extension of programs in the home loan modification program, no lender is required to make principal reductions or provide forbearance options to homeowners, so it will take time to see if these expansions are going to provide any assistance.