CHICAGO, IL - Today, Chase is officially opening its second homeownership center in Chicago to help families struggling with their mortgage payments with a community outreach event. Chase has a total of 27 centers across the United States to help borrowers who have a home loan serviced by Chase, Washington Mutual or EMC – all now part of JPMorgan Chase.
The Chase Homeownership Center, located at 4730 West 79th Street in Chicago, is open Monday through Friday 9 a.m. to 6 p.m. Chase open its first Homeownership Center in Melrose Park in April. Customers who would like to receive more information, or who do not live near a center, can call 1-866-550-5705.
"We created these local Homeownership Centers so our borrowers can sit down and discuss their situation face-to-face with trained loan advisors in these challenging times," said David Schneider, head of mortgage servicing at Chase. "They are part of a wide-ranging initiative to help families stay in their homes whenever possible."
Trained advisors. A team of homeownership advisors will assist customers whose circumstances have changed and are no longer able to make their scheduled monthly payment, who want to avoid foreclosure and stay in their home. The trained advisors will evaluate their finances, review possible workout options and answer any questions.
Scheduled appointments. To reduce wait time, customers are encouraged to set up an appointment in advance. They should bring documentation, including recent W-2s and tax forms, recent pay stubs and bank statements and monthly expense documentation. Also, they should bring any information, such as a hardship letter, that will help explain their current financial challenges.
A track record of helping. The advisors reflect Chase's commitment to helping families sustain homeownership over the long term. Since 2007, Chase has helped prevent 565,000 foreclosures of Chase, WaMu and EMC loans, primarily by reducing interest rates, extending the term of the loans and providing principal deferral. As a participant in the Obama administration's Making Home Affordable program, Chase has approved 138,000 trial modifications in the last three months, with 155,000 more in the pipeline.
Chase is the U.S. consumer and commercial banking brand of JPMorgan Chase & Co. (NYSE:JPM), which operates more than 5,100 branches and 14,000 ATMs nationally under the Chase and WaMu brands. Chase has 151 million credit cards issued and serves consumers and small businesses through bank branches, ATMs and mortgage offices as well as through relationships with auto dealerships and schools and universities. It also serves 26,000 commercial banking clients, including corporations, municipalities, financial institutions and not-for-profit entities.
Source: Chase