Chase loan modification program is helping struggling homeowners to lower their monthly mortgage payment in an attempt to avoid losing their homes through foreclosure. This program which is offered by the JP Morgan Chase Bank, allows homeowners to avoid foreclosure. Deciding what bills to pay or even to neglect has brought about the need for many families to consider the loan mod process. For some homeowners, paying their monthly mortgage has no longer become a priority and has lead thousands of families in fear of losing their homes.
If you are in need of a loan mod with the Chase Corporation, they do work out of 24 mortgage centers, so keep reading this article to learn how to qualify. Getting a Chase loan modification will take some preparation and if you’re not experienced in this arena, the following tips may help you succeed in saving your family from the embarrassment of losing your home.
First: Do not contact Chase on your own, they will direct you to the collections department and their goal will be to get another payment out of you. There are loan modification services that will help you through the process. Unless you are experienced in this field of finance, the loan mod service will do all the work for you. They will speak with Chase on your behalf, and get the modification process started right away. If you’re home is already in the process of foreclosure, the loan mod service should be able to request a temporary hold from Chase.
Second: You’ll need a professional hardship letter to document your circumstances for your lender. If you write one yourself and are denied, it may be difficult to go back and re-apply with completely different documentation or financial information. This is your home you are trying to save – taking chances may cost you your family’s home. Again, if you hire a loan modification service, they will ensure that you make the right steps to begin with.
Third: Avoid any online “do-it-yourself guide”. There are many scams offered by self-proclaimed experts willing to offer you information on how to do loan modifications on your own. Do you really want to take a chance on losing your home with a guide that may have been written by some know-it-all in his mom’s basement?
Fourth: Saving your home is a family affair. A chase loan modification may help you avoid foreclosure, but your family will need to work on a new budget and eliminate all unnecessary expenses.