Homeowners with J.P. Morgan Chase in need of mortgage assistance may have various modifications and home loan aid plans which may be useful in preventing foreclosure. The topic of foreclosure has been in the news as of late due to the fact that many mortgage servicers have been questioned over foreclosure practices, but more so, homeowners are wondering if mortgage modification and assistance plans are helpful overall.
While servicers like J.P. Morgan Chase have indicated that there are homeowners who still suffer when it comes to meeting their financial obligations, due mostly to factors like unemployment, there are still opportunities for homeowners to find affordable mortgage payment aid. It’s well known that J.P. Morgan Chase participates in the Making Home Affordable home loan modification program and may be able to offer certain homeowners in-house assistance on their mortgage too, but there are still problems when it comes to homeowners defaulting despite having modification plans offered.
Some homeowners feel that servicers are unwilling to help homeowners for the most part, but again, servicers are quick to mention that homeowners who are given mortgage assistance do still miss payments and, as a result, face foreclosure.
Yet, it’s hoped that extension programs like second lien modifications and unemployment forbearance plans, which are offered through the Making Home Affordable Program, not to mention underwater assistance plans available from HAMP and the FHA will bring more opportunities for homeowners who are facing specific problems concerning their mortgage.
J.P. Morgan Chase is still working with homeowners to offer affordable mortgage payment plans, but there are sure to be those who still find trouble when it comes to meeting their financial obligation on their home. However, as the economy slowly improves and more mortgage modification and assistance plans are offered, it’s hoped that the number of foreclosures and the loss of homes in our nation will begin to dwindle as homeowners find themselves in a more stable financial position.