The Chase loan modification program is offered by JP Morgan Chase Bank, which is JP Morgan Chase & Company. They work through 24 Chase Mortgage Centers. This program, which was announced on December 31, 2008, gives person-to-person help for those not only with Chase Bank loans, but also Bear Stearns and Washington Mutual, who they acquired… Chase calls themselves “the largest bank by market value.”
Of course, you can’t just walk in and they’ll touch you with a wand and all your troubles will be over. This is work. It is hard work for those who are not used to working with forms and finances. Just the fact you can meet face-to-face with a loan officer says a lot during these troubled times. Not everyone would agree with that. Some consider help as “you do everything for me.” Welcome to the real world. Chase plans to help 400,000 homeowners with 170 billion dollars in loans. Yes, that is a “b” in front of that word.
They also offer a web site so you can do everything on-line. It is at chase.com. You then need to go to “keeping-your-home.” The site is easy to navigate and offers forms in the .pdf format. It begins with a 16 items checklist of what you need. It even has Form 4506-T, Request for Transcript of Tax Return, with instructions. That’s Section 1. Section 2 is the three page financial information form. It requires borrower, property, loan and employment information. Also required is your bankruptcy status. Next is your monthly income and expenses, along with a list of your assets. Section 3 is your hardship affidavit. You can fill all this out and send it to their address, they specify it on the form, including if you use private expedited service. They say it takes one or two weeks. Each case is different. Sometimes, complex cases take longer.
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