Dec 17, 2010

Chase Bank Loan Modification Guidelines




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Chase Loan Modification Program is one of the best available ways to avoid facing default and home foreclosure. A large number of homeowners are struggling to make timely repayment of their monthly mortgage. Many of them make late payments and finally they default on their mortgage payments. If you are in such problems then make sure that you contact the Chase Bank Loan Modification Department on time. The Department offers several options through which you could get rid of your high interest monthly payments without much hassles.

Chase Loan Modification Guidelines

To get into a Chase mortgage modification agreement, you are required to follow certain steps which will help you make a successful mortgage modification application. To initiate your loan modification request, you are first required to determine if you would be eligible for a mortgage modification option. If you are sure that you can meet the requirements of the bank, you can start preparing your application by completing with the required documents. To make a secure application, you can log on to Chase Online and fill up the form or download it as PDF file.

Chase Loan Modification Application

Before starting your loan modification application, you are required to provide certain supporting documents such as bank statements, hardship letter and W-2 forms along with the loan modification request. Once you have completed with the application form and gathered the required documents, mail the complete loan modification packet to Chase. Now, a home retention specialist of the bank will review and analyze your information to determine your eligibility for the loan modification program. The process of review and analysis may take up to 30 days and the home retention specialist may also request for additional information. Upon approval of your request, you will get a letter from the bank explaining your loan terms and the amount of your mortgage payment during the trial period.

You loan modification program will become permanent only when you are able to make the payments during the trial period and when your documents support the initial review made by the home retention specialist. A final loan modification agreement will be sent to you and you are required to sign it and send it back to the bank. A final review will be conducted once the bank receives the modification agreement. Your loan modification will be final with the end of this review. A loan modification request may be denied if fake information is provided. To make complaints or to check the status of your loan modification application, call the customer service phone number, i.e. 866-550-5705.

Website: https://www.chase.com/chf/mortgage/hrm_expect

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