Tuesday, March 31, 2009

Chase Opens Loan Modification Centers

Default Servicing reports today that Chase has opened several "loan modification centers across the country." Chase's website reports that these are for Chase, WaMU, and EMC customers in need. In person meeting are available. Chase's toll free number is set forth as (866) 550-5705 from 8:00 a.m. to 11:00 p.m. Monday through Friday and other hours on the weekends.

Offices in are set for Miami (South Dade) at 10301 S. Dixie Highway (Tel. 305 669-8025) and in Aventura (North Dade) at 20803 Biscayne Blvd. (Tel. 305 682-3018). Other offices in Florida are set for Orlando, Tampa, and Ft. Myers.

The website indicates that a homeowner should prepare by gathering
  • loan number
  • two recent pay stubs (self-employed persons should provide 4 months of bank statements and the most recent tax return and income statements for corporations/LLCs)
  • hardship letter
  • monthly budget outlined
Chase indicates that the information will be reviewed and sometimes further information as to an appraisal or mortgage insurance pursued. After a review, Chase will send a letter to advise if a person qualifies for any loan modification and its terms.

A video presentation by JPMorgan Chase's President/CEO Jamie Dimon before the U.S. Chamber of Chamber is available.
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