Chase Bank Foreclosure Process, Loan and Mortgage Modification Programs
Chase is known to have one of the most complicated application processes for a loan modification. They are known to be strict when it comes to this and only a few are approved. Those who are aiming to have a loan modification under chase need to be responsible enough to know what they need. They key is to be prepared for the application of the loan modification. You should know what kind of loan modification program will fit your situation prior to processing the application. Be prepared with the requirements and submission of documents. Plus, you even have to be the one to follow-up the application. These you have to remember or else the application will be denied.
Chase Bank Foreclosure Assistance and Mortgage Modifications
Agent Requirements for Chase Loan Modification:
- Know your situation why you are unable to pay mortgage and the type of mortgage you currently have. These will give you an idea on the requirements that you need to process your loan modification program application.
- Complete the hardship letter stating your appeal for the loan modification. This must be supported by documents and proof that you are unable to pay your mortgage. Remember to be straight to the point in the letter. Do not write something that is too long or too short but include the details and the resolution that you can provide. Be precise in stating your hardship letter and this will give a better chance for loan modification approval.
- Financial statements are required by Chase to be submitted. Most people may be hesitant but this a requirement that has to be followed to complete the application. Examples of statements that you can pass for the loan modification are bank statements, payment stubs, records and other bills. Included in this is the tax that you are paying. This is very important as it can dictate the modification that is going to be approved, depending on their calculation.
- The application form seems easy to complete but you have to really careful. Pay attention to the details because you have to fill up everything. Be truthful in answering the application and be straightforward. The way that you answer the application form may affect your approval for the loan modification.
Mortgage Payment Assistance
What matters is to get approved for loan modification because once you do; you will be able to modify your loan in many ways. If you want the best option, you can choose to lessen the mortgage interest rate so as to minimize the amount of money that you pay. Always make sure to know the best option for your situation.