A Chase Loan Modification - Not For The Faint Of Heart
If you have figured out that you are not going to be able to fix your mortgage mess with Chase Bank
, you are now probably starting to panic. Did you miss the deadline for a Chase Loan Modification because you were too proud to ask for help? No, you can still apply through December 31, 2012, so you are O.K. on that. And, you know that Chase is participating in the Making Home Affordable Program, so that works out nicely, too. However, it is important that you don't expect an instant miracle from your application for the program.
Millions of American homeowners have been flooding banks trying to save their homes through the stimulus money allotted by Congress to stop the rising tide of foreclosures. The process is slow, and you should expect that from the start. It is difficult to even speak to a real person on the other end of the telephone at times.
Once you have applied, you will still not be able to see the wheels move as quickly as you would like. You should be able to feel some release from the pressure of the payments you could not make, because a foreclosure sale cannot be conducted while a homeowner is being considered for a modification.
It is important that you keep options open, and you should have other alternatives in the event that the Chase Loan Modification does not work out. Just because you meet the initial requirements to apply does not mean that Chase will decide that you can make the modified payment, either. You should have an idea of what you might do in the event that a Chase Loan Modification does not work out for you. There are some programs that are available to homeowners who do not qualify for some reason, and one of these programs even offers assistance with moving expenses.
by: Tyler C. Johnson
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