Successful Chase FHA loan Modification

Homeowners who have difficulty repaying their loans can be in a position to help that they need to learn about the loan modification process Chase. Borrowers in financial difficulties and avoid using a standard payment for information on alternatives to foreclosure. Here are some options:

Repayment Plan: If you have a temporary decline in revenue or a temporary financial difficulties, can offer Chase a payment plan for your current loan. This plan will make payments through the payment of part of the amount due per month in addition to their normal salary.

FHA Loan-Partial Claim:  A loan issued by the FHA insurance to pay the amount due from the past and bring your current loan. You sign a promissory note for the outstanding amount, but no interest or payments on the loan, the house is sold or refinanced. Your payment must be at least 4 months overdue, but not later than 12 months.

Chase loan modification: Borrowers who experience financial difficulties, resulting from lower revenue, medical expenses, can experience a death in the family, or an increase in legitimate expenses qualify for a loan modification.

Q: Does FHA Secure qualify for loan modification?  I have an FHA Secure mortage which I got 6 MONTHS AGO, when I called JPMOrgan Chase to apply for modification I was told it does not qualify since I had the loan for less 1 year and I must another 6 months before applying for modification?

A: Yes, this is true. If you did not like the mortgage in the first place why on earth did you obtain it? They will not modify it, and unless someone died the odds of you getting a modification in a year are pretty slim. There has to be a major change between when you signed the docs and applied for the modification.

Here is my successful story for Chase FHA loan Modification,it might help some FHA homeowners.

They lower my rate form 6% to 5.125% saving me 150.00 a month.I was 9 months behind so they added just the interest portion back into the loan. No ballon payments at the end of the loan.

This was probaly the biggest thing for our situation was i don’t have to go through any trial periods. My loan is now totally current.

This was pretty close to what i had expected. The biggest thing is that it brings me current right away. It may not be a perfect loan mod but at least now i can put some money back into the house again and not worry about it being foreclosed on. I feel liked it is my house again and not the banks. I wish everybody good luck on their loan mods here in the future.