If you are one of the millions of Americans who are struggling to make their mortgage payments, JP Morgan Chase offers several programs to help you. These programs provide mortgage and foreclosure assistance. They want to prevent or stop a foreclosure from happening.
There are options available to help you stay current on your payments and keep your home if you think you may fall behind in the future due to a financial hardship or emergency. If you are unsure about whether you want to stay in your home or sell it, they may be able to help you and give you options depending on your situation.
A variety of programs are offered. JP Morgan Chase will work with homeowners on an individual basis to help them understand their options and make a decision. Please call our customer service hotline at 1-800-848-9136.
Details on Chase JP Morgan mortgage assistance programs
Chase has updated its loan modification programs to make it easier for people to keep their homes. They can help address a wide variety of difficult situations and emergencies, such as being laid off, having a short-term reduction in income, losing a job, or facing permanent difficulties such as the death of a spouse, divorce, disability, or severe medical emergency.
The enhanced and expanded loan modification programs may allow homeowners to adjust the terms of their existing loan, change the principal balance, lower the interest rate, or reduce monthly payments to an affordable amount. The goal is to keep the person in their home, and to prevent them from losing their home through foreclosure. Chase has successfully modified a large number of loans. The article provides information on Chase loan modification help. It discusses various options that are available to help people who are struggling to make their payments, as well as how to contact Chase for more information.
If you think you will have trouble paying your mortgage, selling your home may be your best choice. This means that JP Morgan Chase would agree to sell your home for an amount that is less than what is owed on the mortgage. This will give you more control over when and how you move.
Some families and individuals may have a reduced income or may experience financial hardships for a short period of time. However, they are on the path to repairing their finances and becoming stable again. The repayment plan offered by Chase allows homeowners to pay the delinquent amount over an extended period of time by paying their regular monthly payment plus an agreed upon portion of the delinquent amount each month.
Some lenders in your area might be able to help you get a loan from a third party or possibly a new mortgage to pay off your loan with Chase for less than the full amount you owe on your current loan. This would give you a fresh start on your house payments.
If you are in danger of losing your home through foreclosure, you may be able to stop the process by signing over the deed to your home to the lender. A mortgage assumption is when you transfer your mortgage to another person, and they become responsible for the mortgage payments. The original borrower is no longer held liable for the mortgage debt. This program has the potential to save you from owing money on your home loan if the property is sold for less than the balance of the mortgage. If you avoid foreclosure, your credit score will not be as negatively affected. A deed-in-lieu of foreclosure is a type of transaction that allows a borrower to avoid going through the foreclosure process by voluntarily transferring the ownership of the property to the lender. The deed-in-lieu process may be an option for borrowers who are unable to sell their property and are facing foreclosure.
If you have an FHA loan, you may be eligible for a one-time payment from the FHA insurance fund. Chase may be able to help you get money from the FHA Insurance fund to help pay your mortgage and avoid foreclosure.
JP Morgan Chase has joined the federal government program that will offer homeowners assistance with their second mortgage or home loan. If you want to learn more about how to change or improve a second mortgage or home loan, click here. The program will help homeowners change their second mortgages or loans.
Chase has opened dozens of centers around the nation that allow a homeowner to meet one on one with a trained housing counselor to find solutions to their mortgage problems. Locate a Chase Homeownership Center near you.
Programs for military service members: Individuals who serve in the military, or veterans who lost their homes, may be able to qualify for lower interest rates from Chase, loan modifications, forbearance, or other assistance. If a home was wrongfully foreclosed on in the past, JP Morgan will also work with the homeowner to make up for it. The lender will go out of their way to help military members and their families if they are having difficulty with their mortgage. The Chase Military Mortgage Assistance program offers special mortgage assistance to active-duty and reservist military personnel and their families. This program provides financial assistance in the form of grants to help with mortgage payments, and can also help with other housing-related expenses such as home repairs and renovations.