The Making Home Affordable Report about lenders in the home loan modification program has shown that JP Morgan Chase has seen an increase in their home loan modification numbers. Many lenders have been working hard to make more modifications as homeowners and Treasury officials have accused lenders of not doing all they can to provide assistance.
JP Morgan, however, has seen a jump in the number of home loan modifications they made, through April, as they currently stand at having made 39,507 permanent home loan modifications, which is up from March’s number of 31,460 permanent modifications.
Also, Chase has 118,997 homeowners in a trial home loan modification, which is out of a potential 246,185 homeowners that may potentially qualify. These homeowners that may qualify are those who are more than 60 days delinquent in their mortgage payment and, fortunately, this number has dropped for JP Morgan since last month.
Many homeowners have been crying out that lenders are not doing all they can to make home’s more affordable for homeowners and JP Morgan has been accused of keeping homeowners in their trial modification phase well past the required time limit.
While there are no perfect lenders, homeowners that are struggling with their mortgage payment are still being told to contact their lender for assistance. Many banks are not only offering modifications, but a number of other programs as well, which are hoped to help homeowners avoid foreclosure.