Home » Banks » JP Morgan Chase

JP Morgan Chase

The following page discusses the JP Morgan Chase Bank and the services and financial products it offers.

The present economic status has affected many people leaving them with salary cuts, unemployment and and a general deterioration in working conditions. Almost everybody is experiencing some disruption or discomfort.

An ordinary person’s earnings may not be enough to support the monthly payment for a mortgage. As a result, this will cause them in a default situation with the possibility of turning their homes over to the lenders. The good news is that there are several companies who are more than willing to help you with such problem and one of them is JP Morgan Chase.

Thousands of people who are looking for possible ways to save their homes from being auctioned because they are not able to pay may be able to rely on JP Morgan Chase and avail of their mortgage loan modification program. The terms and conditions provided by JP Morgan Chase are simple and can be met readily by some homeowners.

JP Morgan Chase Requirements

JP Morgan Chase merely requires the borrower to give a beforehand notice if they are not able to make the payment. This will enable the bank to have the freedom to send an agent to the place of the borrower and have a free discussion and conversation about the problem. The income and expenses of the client is then evaluated through the client’s last two months bank statement, the latest income tax statement including the income slips and letter with the explanation why they can’t make the payment. These are used to design proper plans to get rid of defaults and even future ones.

JP Morgan Chase has a unique FRP (or Foreclosure Rescue Program). The bank will hold the foreclosure off within 5 days to give a more comprehensive review of the client’s file. Another program of other JP Morgan Chase is the SRP or Streamline Reliance Program. This will give the client the option to replace his variable mortgage rates with fixed rates. This aims to reduce some of the pressures the clients are suffering. By having great lengths, JP Morgan Chase helps the borrowers pay for their loans and through the retrieval packages, even save their homes from being repossessed. People who are 90 days past due can have hope with JP Morgan Chase’s PLP or Project Lifeline Program.

This so-called special loan modification will give the borrower 30 days grace period to settle their payments. Most of the homeowners who have encountered problems like this have been rescued with this program.

The performance of the JP Morgan Chase has been very impressive during the past two years. More than $415 million was made available for prime borrowers. There are already millions of Americans who are helped and achieved financial wellness through the JP Morgan Chase.