This week JPMorgan Chase opened two “Home Ownership Centers.” At these centers you can talk to financial advisors regarding your current Chase, WaMu/Washington Mutual and EMC home loans. These centers are geared toward people in danger of losing their homes to foreclosure. Here you can sit with an advisor and try to modify your loans, or talk about ways to avoid foreclosure. Reportedly, JP Morgan Chase has reduced interest rates or deferred principal on over 300,000 loans since 2007.
To talk to Chase about loan modifications, the centers are located in the East Bay and in the South Bay at:
5050 Broadway, Oakland (MORE INFO, hours, directions at Chase.com by clicking HERE)
866-550-5705
2915 Stevens Creek, Santa Clara (open 3/18)
They will also be opening centers in Stockton and Sacramento.
Hoping they’ll see the need to open one in Contra Costa County, but no news on that yet.
According to Cynthia Thompson, a Chase Home Loan Executive in Oakland, the criteria to gain help at one of these centers are homeowners facing financial challenges, or difficulties making their mortgage payments. At the home ownership center homeowners will be able to get 1 on 1 loan counseling/advising. They’ll take their financial information, try to understand the challenges before them and then try to find a long term solution to ensure they have an opportunity to maintain their home ownership opportunities. Their forecast is to try to reach out to over 400,000 families. Solutions may include adjustments to the interest rate, extension of loan terms, principal forbearance (Ms. Thompson noted they do not currently look at principal reductions).
For other office locations, office hours, what to bring, what to expect and directions: Click on: Chase Mortgage Modifications, Home Ownership Centers
Catherine Myers, REALTOR
Terry Osburn, Broker Associate
www.CCShortSales.com
Alain Pinel Realtors
925-683-2125
Serving the needs of homeowners wanting to avoid foreclosure with a short sale. . . Contra Costa, Alameda and some areas of Solano County.
