Homeowners with a mortgage from J.P. Morgan Chase have been using various loan modification programs and refinancing options in order to make their home loan more affordable. Chase has been participating in the Making Home Affordable Program and has provided assistance to numerous homeowners who were previously unable to make their mortgage payment.
While J.P. Morgan has seen an increase in the number of home loan modifications they have made from month-to-month there have been many homeowners who are upset with Chase and their implementation of modification programs. J.P. Morgan Chase was accused of keeping homeowners in the trial phase of the modification program for too long, which obviously was very upsetting for homeowners.
However, no lender has been without criticism in the home loan modification program so, along with HAMP assistance plans, many are using in-house assistance options to help homeowners that are in need. While the modification program may not have the best numbers, there are more and more homeowners who are getting a home loan modification or some form of mortgage assistance each month.
Some homeowners with J.P. Morgan, along with other lenders, have been refinancing their home loan in order to take advantage of low interest rates that have been available over the past months. There have been homeowners that have seen record low interest rates offered when they refinance and as a result of getting these lower rates some homeowners have gotten a lower mortgage payment as well.
Anyone who is having trouble making their mortgage payment is being advised to contact their lender to discuss options that may be available to help them make their home more affordable. While there have been troubles for many homeowners who have sought assistance for their mortgage, avoiding foreclosure will be well worth any trouble a homeowner may encounter.