June 16th, 2011
Posted in ARLINGTON, Virginia – JPMorgan Chase has opened a counseling center in Arlington to help struggling homeowners meet their monthly mortgage payments to avoid foreclosure.
The move to open the center comes after the fraudulent foreclosure scandal last fall, in which 2.9 million homes were foreclosed nationwide, many without due cause.
Jorge Davila, who oversees the Arlington Chase Homeownership Center and similar facilities in the Southwest, said JPMorgan Chase has added 8,000 loan counselors in the past two years to help homeowners. The Arlington center will have six counselors that homeowners will be able to meet face to face with and discuss possible solutions to their mortgage problems.
JPMorgan Chase and other lenders urge homeowners at risk of foreclosure to enter the federal Home Affordable Modification Program, or HAMP, which has helped about 1.6 million households since launching in 2009.
For eligible borrowers, HAMP can reduce mortgage payments to 31 percent of pretax income through a variety of solutions like by reducing the interest rate to as low as 2 percent or deferring a portion of the principal until the loan is paid off.
The loans that don’t qualify for HAMP can be handled under an alternative modification program. A variety of other programs are offered by Fannie Mae and Freddie Mac. There are also other counselors certified by the Department of Housing and Urban Development that offer services to troubled homeowners.
If you or a loved one have been struggling with your mortgage, turn to a top foreclosure lawyer to prevent the repossession of your home. Foreclosure attorneys do everything they can to ensure the best possible outcome for their clients’ cases.
Your foreclosure lawyer will sit down with you and determine the best course of action to take based on your situation. They will present the plan to lenders in hopes of avoiding the repossession of your home. Some alternatives to foreclosure include mortgage modification, deed in lieu, short sale, refinancing or even a temporary halt in payments. Foreclosures are actually rather expensive to carry out, so if a working alternative plan can be suggested, chances are that lenders will accept.
Whether you are in debt because of unpaid bills, medical problems or because you lost your job, foreclosure attorneys can help ensure that you get to keep your home. Call the offices of a leading team of foreclosure lawyers today to discuss your options and file a claim.
Tags: Arlington Center, Arlington Virginia, Best Possible Outcome, Chase Mortgage, Counseling Center, Department Of Housing And Urban Development, Eligible Borrowers, Fannie Mae, Fannie Mae And Freddie Mac, Hamp, Home Foreclosure, Homeownership Center, Housing And Urban Development, Jpmorgan Chase, Loan Counselors, Monthly Mortgage Payments, Mortgage Lenders, Mortgage Problems, Pretax Income, Repossession
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