Chase offers mortgage counseling to
troubled consumers
Source:
Informa Research Services
(03/25/2011) In
an effort to help homeowners in Central Ohio who have been severely impacted by
the financial downturn, JPMorgan Chase is offering mortgage counseling to help
them avoid a foreclosure.
JPMorgan Chase recently sent letters to about 2,400
homeowners in Ohio, inviting them to an event in Columbus at which they can
speak with a financial counselor and, if they're truly in dire straits,
potentially alter the terms of their home loan, according to a report from the
Columbus Dispatch. However, the company also believes only about 300 people will
take it up on the offer.
"We're
certainly trying to attract recently delinquent customers to get them in the
process as quickly as possible," Patrick McGovern, a regional vice president for
the Chase Home Ownership Center, told the newspaper.
Consumers
facing foreclosure who do not receive this type of help may also benefit from
attempting to refinance their existing home loan. By checking the latest online
rate tables to find the best local mortgage rates, they may be able to save as much as a few hundred dollars a month on
their home loan bill.
Chase
has offered more than a million mortgage modifications to consumers since 2009,
the report said
