Homeowners who need assistance to keep their home are in luck. President Obamas “Making Home Affordable” plan will allow homeowners a chance to get into a more affordable mortgage through home loan modification. Chase is one of the few lenders who are approved by the Government to offer this plan. Here is what you need to get a Chase home loan modification:
Not all mortgage lenders and banks are allowed to offer the Presidents mortgage bailout plan. Chase, one of the nations leading and most reputable lenders, is approved to take part in this program. This $ 75 billion plan from Obama will give cash incentives to mortgage lenders like Chase who approve “struggling” or “At risk” homeowners for a mortgage modification. With his extra money, the lenders are taking less risk when they offer a home loan modification to a homeowner who is in a “financial hardship”.
When less risk is taken, more loan modification applications can be approved. Overall, an estimated 9 million homeowners can use this plan for themselves.
If you are a homeowner who is facing a “financial hardship” you should make sure to let Chase know that. A homeowner should write down their financial hardships, a plan to deal with them, and why a mortgage modification is so important. It is also important to include any proof, such as, layoff notices, hospital bills, bank statements, and all related information. Include the letter of hardship, the proof, and your application when you apply for a home loan modification with Chase. This letter, and the proof, will help a lot when attempting to get approved for a mortgage modification.
Homeowners should jump all over this chance to get a Chase home loan modification.
The savings for the average homeowner can easily equal hundreds of dollars per month. Many homeowners are struggling right now due to the bad housing market, and the tough economy. This plan is a real help for all involved, mortgage lenders, homeowners, banks, and the overall economy. Eventually, consumer confidence will return to the market, and the economy overall will benefit. Take action now and use this plan for your advantage.