Homeowners whose servicer is J.P. Morgan Chase do still have opportunities for mortgage assistance through various home loan modification opportunities and foreclosure prevention plans. Questions over foreclosure practices have led many homeowners to feel they may have been unjustly foreclosed upon and lost their home without proper consideration for assistance opportunities, but there are still chances for homeowners currently struggling with their mortgage to find help.
Mortgages that were in question, concerning foreclosure documentation practices, were typically those which had already seen homeowners default on their mortgage or get severely behind on their payment obligations. However, current homeowners who may have missed a mortgage payment, are in fear of defaulting, or who may face foreclosure do still worry about the loss of their home since it seems some servicers were simply processing foreclosures as quickly as they could.
Yet, J.P. Morgan Chase is one of the financial institutions which participates in the Making Home Affordable Program and does still offer governmental mortgage assistance plans and proprietary modifications as well. Also, many of the nation’s top servicers participate in extension plans offered from the Making Home Affordable Program like the Second Lien Modification Program and the Home Affordable Unemployment Program.
While servicers like J.P. Morgan Chase have not been perfect in their dealings with homeowners who are attempting to save their home, there are options still in place which can help homeowners avoid foreclosure. Mortgage payment assistance plans may still be available to certain homeowners, but there are also alternative options available, like short sales or deed in lieu of foreclosure plans, when a homeowner faces the loss of their home.
Numerous housing difficulties remain and will likely be a problem until factors like unemployment began to subside, but servicers like Chase, while they have been imperfect in their assistance efforts, do still offer help to homeowners who may be facing the loss of their home. It needs to be understood that not every homeowner may find the assistance they seek, but modifications can still be used by homeowners in need.