How to Avoid Foreclosure on your JP Morgan Chase, WaMu or EMC Mortgage
JP Morgan Chase, one of the major US banks, has expanded its program for helping homeowners caught in the housing crisis with mortgages they can't afford. The new program helps homeowners deal with troubled mortgages and avoid foreclosure. Their announcement includes a 90 day freeze on foreclosures for Chase, Washington Mutual (WaMu) and EMC mortgage-holders. Here's what you need to know to take advantage of this program.
- Difficulty:
- Moderate
Instructions
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Familiarize yourself with the announcement from JP Morgan Chase (available in Resources).
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See if your loan is covered. JP Morgan Chase handles mortgages not only for Chase, but for WaMu and EMC. If you are holding a mortgage from any of these providers, and are in danger of foreclosure, you may be eligible for foreclosure relief.
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Contact your bank. JP Morgan Chase is unfolding their program by freezing foreclosure actions for 90 days, adding mortgage counseling staff, creating new mortgage modification options, and opening regional service centers to assist in making mortgage modifications. Contact your bank directly for details of expanded services in your are.
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Learn about other forms of help. In addition to the JP Morgan Chase program, there are an expanding network of government programs that can also help mortgage holders avoid foreclosure. You will find more information in Resources, on government foreclosure rescue grants and other assistance.
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