Homeowners with J.P. Morgan Chase has been suffering from mortgage difficulties as have many homeowners with a variety of mortgage servicers across the nation. However, J.P. Morgan Chase is one of the top mortgage servicers working in the Making Home Affordable modification program to aid homeowners who are having trouble meeting their home loan obligation.
Mortgage modifications have been helping homeowners find the assistance they need to avoid foreclosure and make their monthly mortgage payment more affordable. While J.P. Morgan Chase has not escaped criticism and there are many homeowners who are angry at some of the top lenders in the modification program, more options are being created to assist those who fail to receive a modification from the Making Home Affordable Program.
Unemployment home loan assistance, underwater mortgage assistance, and foreclosure alternative programs have been suggested and used by many lenders in order to aid homeowners who are suffering from economic troubles and are having difficulty meeting their mortgage payments. The loss of income due to cutbacks at places of employment and unemployment have been causing homeowners a great deal of difficulty but, for some, the modification program and Making Home Affordable extension plans have assisted homeowners who previously faced losing their home.
However, mortgage servicers like J.P. Morgan Chase have also been able to aid homeowners by offering refinancing opportunities. Home loan interest rates are quite low at the present time and homeowners who can afford to do so have been able to refinance for a lower monthly mortgage payment and home loan rate. While not every homeowner has been able to take advantage of these though interest rates due to their troubling situation, refinancing has been a way in which many have been able to take advantage of near-record low interest rates on their home.
While Chase has been able to assist many homeowners with refinancing and modifications, homeowners that are considering refinancing their home are often advised to look at a variety of mortgage servicers in order to get the best rate. However, homeowners who are in need of a home loan modification can contact their primary lender or consult the Making Home Affordable Program website and Hotline, as well as, HUD-approved housing counselors for assistance and information on the modification program.