Home loan foreclosure is still a concern for homeowners with servicers like J.P. Morgan Chase, but there are still home loan assistance plans available through various modification programs. J.P. Morgan Chase has continued to participate in the Home Affordable Modification Program over the past months, despite complaints and concerns from many homeowners.
Also, there are indications that homeowners with J.P. Morgan Chase may also receive assistance outside of traditional home loan modification programs, if they are having trouble meeting their mortgage obligations. In-house home loan modifications and extension programs from the Making Home Affordable Program has been used by servicers like Chase in order to assist homeowners with more affordable mortgage payment options, underwater mortgage difficulties, or factors like unemployment.
While questionable foreclosure practices have arisen from many servicers over the past weeks, homeowners are mixed on these mortgage assistance options. While J.P. Morgan Chase has helped numerous homeowners find affordable solutions to their home loan payment, there are homeowners who are continually losing their home despite having access to assistance plans from servicers like Chase.
Homeowners are still being prompted to contact their mortgage servicer if their mortgage payment becomes a problem due to personal financial difficulties. While there are new programs which are being implemented by state housing agencies, national home loan modification programs are still available to benefit those who may have the need for lower mortgage payments, extended mortgage terms, or lower interest rates on their mortgage.
Understandably, not all homeowners have been helped by these assistance programs and there’s a high likelihood that homeowners may continue to face foreclosure. Yet, despite troubles, J.P. Morgan Chase may still be able to assist homeowners in certain situations with avoiding the loss of their home. While, again, there have been difficulties between homeowners and servicers, individuals facing mortgage payment troubles are often prompted to contact their mortgage servicer early in the hopes of finding affordable assistance options before their situation becomes too dire.