Contact: Call the telephone number on your mortgage statement. Call (800) 848-9136. Call (866) 550-5705. Visit a Chase regional counseling center. Web site: www.chase.com.
Noted qualifications: Hardship letter may be required. Owner-occupied residence. Mortgage owned by Chase, WaMu or EMC or with investor approval.
Options: Repayment plan. Mortgage modification in hardship situations. Principal forbearance. Extension of loan term. Deferral of principal. Interest rate reduction. Foreclosure moratorium. Interest-only payments for 10 years. Hope for Homeowners program. Refinancing with lender-paid closing costs. Pre-foreclosure short sale. Deed in lieu of foreclosure. What these terms mean.
Letters:
Chase will send letters to borrowers who have subprime adjustable-rate mortgages or payment-option ARMs. Borrowers are more likely to receive a letter if they've racked up the maximum amount of negative amortization and their interest rate is scheduled to reset.
Borrowers look for mortgage modification
Call the telephone number on your mortgage statement.
