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stop foreclosure with Chase

JP Morgan Chase wants interest only loan modifications in Obama Plan

by Moe Bedard

Banks will push the Obama administration to expand its mortgage-modification program to allow interest-only periods on reworked loans, seeking to bring more homeowners into the initiative while recognizing concern that it may only postpone defaults, according to JPMorgan Chase & Co.

“We’re working with our peers to develop a proposal to present,” Douglas Potolsky, a senior [...]

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Chase to Offer $1.1 Trillion in Loan Modifications

by Moe Bedard

Great news for Chase borrowers! You now have the most loan modification friendly lender in the country.

Chase announced Friday that they plan to modify a whopping $1.1 trillion in loans it services that tied up in securitizations (AKA Mortgage Backed Securities or Investor Owned Loans). They also plan to include mortgages in its portfolio .

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Chase underwriter says, “We are approving 98% of the loan modifications.”

by Moe Bedard

I received a call last night from a nice gentleman who works as an underwriter in Chase’s loss mitigation department in San Diego, California.This unit of Chase is also known as the “ARM Unit”. 

In the course of the conversation he told me that the main function of this department is to modify as many adjustable rate mortgages as [...]

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Stop Foreclosure With Chase

by Moe Bedard

In researching Chase I have found that they are very active in doing what they can to stop foreclosure and help people nation wide. They have made more than $4 million in philanthropic grants to support financial education programs and initiatives, $2.4 million of which was for mortgage counseling.
They have a toll free number for [...]

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