Chase Bank Loan Modifications

Chase Bank recently announced that from Jan -July 2010, it has assisted approximately 900,000 homeowners interested in modifying their home loan. What’s interesting about this announcement is that Chase is actually doing something to address the three major complaints that have plagued both HAMP (the Federal “Home Affordable Mortgage Program) as well as the entire banking and loan modification industry. Here are the three major pitfalls and what Chase is doing about them.

Problem One. The loan modification process confuses most homeowners.. The majority of homeowners throughout the United States originally purchased their home through a realtor or mortgage broker who held their hand throughout the buying process and guided them. To help bring a homeowner up to speed to do a loan modification, Chase now assigns a counselor to each customer that is working with Chase; this counselor walks the customer through the modification process and is their primary contact with Chase from start to finish.

Problem Two. Banks commonly lose documentation and ask homeowners to resend documents. Most homeowners who have encountered financial difficulty find it difficult to send the necessary documentation to a lender and hold a job at the same time. What makes things worse, some homeowners learn that after sneaking off at lunch to fax the financials from a Kinko’s, that the documents previously sent were either lost, incorrect or never received by the financial institution. The other day, for example, a person at a bank notified me that an application had been rejected because it was missing a zipcode on the address. She told me that resubmitting the correct document should be an easy task, not knowing how precarious the current job market is and how difficult some companies make it for their employees to do personal tasks while on the job. To make things easier for homeowners, Chase has established a centralized location for document collection and imaging, making it easier to review a customer’s file and reducing the need for borrowers to resend documents.

Problem Three. Loan modifications take too long. Most homeowners have been promised that their modification will be approved after making three monthly trial payments only to learn that after making seven or eight trial payments they are no closer to gaining approval than when they first started. To help speed things up, Chase has hired 8,000 new credit counselors to help complete the loan modification evaluation within 30 days of receiving borrower’s completed application package.

By expanding their team to assist customers, Chase can now weed through their applicants more effectively. They can communicate better and help those fortunate enough to qualify and discover the homeowners who are not eligible for a modification but who might want to pursue a short sale or other foreclosure prevention option. Still the statistics for loan modification approval from Chase are not encouraging. From Jan – July of 2010, only 27% of the modification applicants offered for the Chase HAMP program had gained approval, and 38% of applicants through Chase Bank’s own loan modification program had been approved. But at least it’s a start in the right direction!

Stimulus Package For Chase Bank Loans – How You Can Save Your Home With a Chase Loan Modification

The mortgage crisis has caused many families with Chase as their lender to review the new stimulus package our government started to help keep their families from going into financial ruin. Many Chase bank loan customers have been able to utilize the loan modification process in order to save their homes from foreclosure.

Chase bank loans were affected like the many other banks and the lenders at Chase have found it wiser to work with families to resolve their issues so they may continue to make their monthly payments and remain in their homes. Because Chase was purchased by the Bank of America, changes were made to restructure their own finances and keep yearly profits up. They decided to reduce the cost of foreclosure proceedings by allowing their loan holders to participate in the loan modification program. This decision actually helped to increase their bottom line by increasing the number of families able to continue making monthly payments on their mortgage loans.

In order to verify if you are able to qualify for this program, it is best if you utilize a free consultation with a professional experienced in helping families file for the loan modification process. Chase bank loan customers should speak with an expert in this area and have their questions answered to help them understand the process fully. Fortunately, there are a number of loan modification experts available online offering these complimentary consultations for Chase clients and other lenders as well. Before speaking with your loan modification expert, you should gather all your financial records and be prepared to answer a few questions regarding the state of your finances and your current monthly obligations.

If you’re having trouble with your current mortgage loan, the stimulus package was designed especially for you. But I caution you; be truthful with all you answers being dishonest can only increase your problems. A large portion of the stimulus package was designed for families wanting to pay off their loans and not for individuals looking for a free handout. Chase bank loan customers will be screened to make sure they qualify, so having a professional to do the talking for you will only help the process go smoothly for you and your family.

It will be interesting to see how President Obama’s stimulus package helps to keep families safe and secure in their homes. Chase bank loan customers would be wise to take advantage at this time before things change once again and then be in search of other options to help them through this economic crisis.

Hunter’s Chase Homes in Austin, Texas

Hunter’s Chase Homes

They offer a wide variety of benefits that are suited for any lifestyle. Hunter’s Chase Homes are only a short drive away from Austin, but offer the quiet and peaceful solitude of a suburban area.

Hunter’s Chase real estate has many amenities. Some of these include two pools for children to enjoy, as well as two spacious volleyball courts. The wide lawns of Hunter’s Chase real estate makes it easy for you to host a barbeque or a party for your welcoming neighbors and friends. There is also a fitness center conveniently located within the neighborhood so you can fulfill your exercise neighborhoods without a lengthy commute.

Hunter’s Chase Real Estate

Hunter’s Chase Homes are located in a great community with new pals that is located in Northwest Austin. This community provides potential home buyers the opportunity to find a new place to call home. The community is located off of Highway 183 and McNeil near Northwest Austin real estate, and is a very desirable neighborhood for prospective home buyers. These homes are also only minutes away from the scenic beauty of Lake Travis.

Hunter’s Chase Homes For Sale

At Lake Travis, you and your family can enjoy the picturesque sunset every evening, and relax and enjoy the tranquil atmosphere. If you are looking for a more lively way to spend your time, this community is also located next to major shopping, dining and recreational centers. With this huge list of amenities, it seems to be a simple choice of deciding to live at these homes. These homes for sale will surely have a great fit for you. Located in Northwest Austin real estate, this community is where you belong.

This real estate is also located in a very convenient location. Although the relatively small neighborhood has a cozy and rustic charm, it is conveniently located from the major metropolitan center of Austin, Texas. It is also very close to the major highway 183 and McNeil. While you immerse yourself in the welcoming community, you will also find that the homes here are located next to fantastic local restaurants and coffee shops.

Schools Nearby

Minutes away from Northwest Austin, homes for sale are located in the superior Round Rock School District, which provides couples with a great location to start their family in a premier school district. The schools located within Round Rock School District include Pond Springs Elementary, Live Oak Elementary School, Deerpark Middle School and McNeil High School. All four schools are high performing establishments that will truly help your children develop their education in a welcoming environment. Round Rock School District serves 45,739 students, and is an ideal location for your children to become stellar students.