Chase will further postpone foreclosure proceedings for an indefinite period.
Eligibility Requirements for JPMorgan Chase Loan Modifications
Chase requires a hardship package consisting of a hardship letter, pay stubs, financial statement, bank statements and tax returns.
- Loan must be a first mortgage owned by JPMorgan Chase.
- The property must be owner-occupied and a primary residence (however, the home owner may own other property).
- Adjustable-rate mortgages, subprime and Option ARM loans from JPMorgan Chase, Washington Mutual or EMC Mortgage Corp. may qualify.
- The home owner must be able to afford a debt ratio PITI payment of 31% to 40% of gross monthly income.
For more information, call JPMorgan Chase at 866.550.5705.
At the time of writing, Elizabeth Weintraub, DRE # 00697006, is a Broker-Associate at Lyon Real Estate in Sacramento, California.