Homeowners with J.P. Morgan Chase may be able to take advantage of certain foreclosure prevention programs which have been set in place to help homeowners avoid losing their home by offering them either a more affordable home loan payment or the opportunity to get out of their mortgage obligations with an option like a short sale. Many various mortgage woes have befallen homeowners over the past months and plans from the Making Home Affordable Program have been offered in order to combat these troubles.
Traditional modifications are still being made by many of the nation’s top lenders and the number of permanent home loan modifications that have been made from month to month are on the rise. While there have been troubles, with many homeowners accusing lenders of not doing all they can to prevent foreclosures, there are still mortgage assistance options available from both the Obama Administration’s modification program and from lenders themselves.
Also, troubles have arisen in cases where a home has a second mortgage, so the Second Lien Modification Program has been implemented to make homeowner’s mortgage payments more affordable in these cases. Also, where homeowners are facing a severely underwater mortgage, lenders are working with these individuals to either find ways to make their underwater mortgage more affordable or allow them to short sell their home so that they can be free and clear of a bad situation.
Homeowners who have a mortgage with J.P. Morgan Chase are often advised to talk with their primary lender or consult the Making Home Affordable website for more options in dealing with their particular mortgage situation. Again, many homeowners have various types of mortgage difficulties which they are facing, but there are plans that can help fight these troubles and provide homeowners with a more affordable mortgage payment.