J.P. Morgan Chase homeowners have been grouped into the category of those who are struggling to make their home loan payments as various mortgage servicers across the nation are using the Making Home Affordable Program to find solutions for homeowners who are having trouble meeting their mortgage obligations. However, delinquent homeowners are still seeking answers as some have been subjected to extended trial periods.
According to the July Making Home Affordable servicer report, J.P. Morgan Chase has 215,641 delinquent homeowners as of July 2010. While many servicers have seen a decrease in the number of delinquencies and an increase in the number of permanent home loan modifications, there has been a backlog of homeowners who are in a trial home loan modification and for some, these trials end before homeowners are given a permanent modification or are drawn out well beyond the required time period.
There are many homeowners who are upset with mortgage servicers due to the fact that they are denied a permanent home loan modification or are given a trial modification but are being kept in their trial for an extended period. While there are mortgage servicers who claim that homeowners are still having trouble making home loan payments even when a trial period is in place, homeowners are asking that more be done to help individuals who are having difficulty in the modification program.
J.P. Morgan Chase, among other mortgage servicers, have had problems with homeowners who have been kept in a home loan modification trial program for too long and are seeing homeowners who are still becoming delinquent or defaulting even when assistance is offered. While it is reported that over half of all homeowners who are denied a modification or have their trial modification canceled receive alternative forms of assistance, angry homeowners are asking that servicers take steps to move more homeowners into a permanent home loan modification or offer alternative forms of mortgage aid that will allow those who do not benefit from a modification to keep their home.