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Chase Loan Modification - Now Approved To Accept Applications For Federal Plan
Author : Lindsy Emery
Because of a new agreement by the Treasury Department, Chase now has a loan modification program available to homeowners like you. If you qualify, you are able to obtain a home loan modification. In exchange, the government awards Chase with incentive payments upon every qualifying loan processed. As you would imagine, there remains a large push for the bank to ensure homeowners are aware of the program.
By enrolling with the federal plan, you have a few options to choose from in being able to lower your monthly mortgage payment. The options include:
1. An interest rate of as low as 2%
2. Loan term extension to 40 years
3. Forbearance on the loan principal amount
As part of the program, the difference in your revised loan terms will be absorbed by the federal government, immediately paying Chase for each case that is processed and accepted. Ultimately, you as the homeowner will end up with lower monthly payments as low as 31% of your gross monthly income. The cost of your taxes, monthly insurance payment, and maybe even your HOA fees are also factored into these reduced payments.
You owe it to yourself to at least try to do what you can to be able to keep your home, despite the financial difficulties you might be experiencing. If you are interesting in finding out more about the Chase loan modification using Home Affordable, visit their website to complete an application. Please keep in mind, only those applicants who fully complete the information will be processed; however, not everyone who applies will be approved. To boost your chances of qualifying, review Chase's requirement guidelines before submitting your application.
Author's Resource Box
Searching for more information about Wells Fargo loan modifications? Visit our simple, no nonsense loan modification guide and resource: http://MortgageModificationLoan.net/
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Tags: chase loan modification, loan modification,
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Submitted : 2009-07-08 Word Count : 376 Popularity: 236 Times Viewed: 29
