Chase Bank Home Loan Modifications – Facts for the Consumer

information ascertaining to the Chase Bank house loan alteration scheme.

In March 2009, the President brought into effect the Homeowner Stability Initiative, a plan that offers lenders and borrowers alike incentives to modify existing mortgages in such a way that the monthly payment does not surpass 30% of the gross monthly income. Your suitability for this scheme will rely mostly on who insures your house loan. Only loans insured by Freddie Mac or Fannie Mae qualify for this scheme. If you aren’t sure who insures your loan, contact Chase and simply ask them.

As with any fiscal scheme, there are rules in effect. In addition, the mortgage must’ve been taken out