J.P. Morgan Chase has offered foreclosure prevention options for numerous homeowners through plans like home loan modifications. Chase has seen a rise in the number of home loan modifications they have made through the Making Home Affordable Program over the past months, but these modifications have still been troublesome for many homeowners.
Reports that homeowner defaults and foreclosures are still a problem has left many wondering if these modification programs are helpful or if servicers are implementing them correctly. There remains difficulties and troubles that remain between mortgage servicers and homeowners, but there have been alternative modification plans offered from private modification plans which have been reported to have helped more homeowners than modifications made in the Making Home Affordable Program.
Understandably, mortgage servicers still deal with complaints from many homeowners over foreclosures or the modification process, but it’s hoped that more homeowners can find the foreclosure prevention assistance they need through options like private modifications, if homeowners are denied assistance through governmental modification plans.
While homeowners with J.P. Morgan Chase may still face bankruptcy or foreclosure, it’s believed that with more opportunities available to save their home, a homeowner could see more affordable solutions when it comes to their mortgage payments.
There are troubles like unemployment that are still the source of many housing troubles, but with homeowners still seeing modifications made from the Making Home Affordable Plan and reports that indicate more homeowners may be getting assistance through private modifications, it’s hoped that a greater number of homeowners will find the foreclosure prevention assistance they need.