Non-military families welcome to attend
Advisors will work face-to-face at two-day event to help keep families in their homes
Chase loan advisors will set up shop for two days near Fort Jackson to help struggling military homeowners – and non-military families -- find the best solution. Homeowners with Chase mortgages can receive the following services:
- Initial counseling to apply for a mortgage modification
- Counseling for those who are current on their mortgage but are struggling
- Short-sale assistance for those who can't afford their home or don't want to stay in it
- Document signing and drop off for modifications
WHO: | Â | Dozens of Chase loan advisors will assist borrowers with a Chase or EMC mortgage |
WHEN: | Friday and Saturday, April 29 and 30, 10 a.m. to 7 p.m. | |
WHERE: | The Medallion Center, 7309 Garners Ferry Rd., Columbia, S.C. 29209-2110 | |
HOW FAST: | No appointments are necessary. Chase expects to sit down with most borrowers within 15 minutes of their arrival. |
Since Jan. 1, 2009, Chase has offered more than 1.1 million modifications to struggling homeowners.
Earlier this year, JPMorgan Chase announced enhanced programs to help military and veteran customers.
Reduced Servicemembers Civil Relief Act (SCRA) Pricing
Effective April 1, 2011, Chase has lowered the effective mortgage interest rate to 4% for SCRA-protected military personnel while on active duty and for a year thereafter, subject to required approvals. This maximum rate of 4 percent is one third lower than the 6 percent rate currently required by SCRA.
Military Modification Program
Chase has introduced an enhanced modification program for all members of the military who have served on active duty as far back as Sept. 11, 2001. The program is offered to those who are behind on or having trouble making their mortgage payments. Subject to the required regulatory and investor approvals, the program goes beyond the government's Home Affordable Modification Program requirements. In addition, in cases when we modify any Chase-owned or Chase-serviced primary residential mortgage, Chase will also modify the interest rate on a second mortgage, if owned by Chase, to 1 percent.
Home Ownership Assistance
- As a matter of policy, Chase will not foreclose on homes of any deployed military servicemembers during the period of their deployment, whether or not they would otherwise fall under the SCRA. This promise goes beyond current SCRA requirements which protect military borrowers against foreclosure only if they took out their loans prior to going on active duty.
- Chase will donate 1,000 homes to military and veterans over the next five years through non-profit partners.
About Chase
Chase is the U.S. consumer and commercial banking business of JPMorgan Chase & Co. (NYSE: JPM), a leading global financial services firm with assets of $2.2 trillion and operations in more than 60 countries. Chase serves consumers and small businesses through 5,400 bank branches, 16,000 ATMs, mortgage offices, and online and mobile banking as well as through relationships with auto dealerships and schools and universities. Chase also has 90 million credit cards issued. More information about Chase is available at www.chase.com.
Contacts:
Chase
Media Contact:
Nancy Norris, office 502-566-3620,
cell 502-777-6379
Nancy.L.Norris@Chase.com
