Chase Says Nearly One-Fourth of Its Mortgage Modifications are Now Permanent
JPMorgan Chase has announced that it has offered over 900,000 mortgage modifications to delinquent borrowers since the beginning of 2009, and that 23 percent of those modifications resulted in a permanent change to the borrower’s mortgage.
Chase said that it offered over 263,000 modifications through the Home Affordable Modification Program (HAMP), of which 73,000 were approved and 58,500 of those approved resulted in a permanent modification to the homeowner’s mortgage.
The bank said that its own mortgage modification programs were offered to almost 347,000 homeowners, of which more than one-third were approved for a permanent modification. Chase also offered more than 304,000 modifications through Fannie Mae and Freddie Mac, but only 20 percent were approved through these programs and just 15 percent received a permanent modification.
Chase says that it has added more than 8,000 loan counselors over the past 18 months, and has counseled over 140,000 delinquent borrowers. It has 11 Homeownership Centers throughout Florida that are focused exclusively on helping homeowners avoid foreclosure. For a complete list, go here.
If you are a Florida homeowner who wants to avoid foreclosure, contact our Jacksonville Florida foreclosure defense law firm.
Greg Gilbert
Keith Maynard
