Homeowners seeking help with an unaffordable home mortgage have a second chance to keep their homes with the federal stimulus loan modification plan.  Close to 4 million are targeted with $75 billion in stimulus aid.  Chase promises a systematic review of its entire mortgage portfolio and aggressively offer loan workouts to those borrowers who qualify.

JP Chase Morgan, who also owns Washington Mutual and EMC will be participating in the Home Affordable Modification program by implementing proactive outreach efforts to borrowers who have loans with the three companies. The special features to this program include:

• Interest rates reduced to 2%
• loan terms extended to 40 years
• principal reduction or deferral

The bank has already helped over 250,000 borrowers with a Chase loan modification. The total foreclosure preventions are projected to exceed 650,000 loans representing $110 billion in mortgages. When Chase acquired Washington Mutual, they inherited a large portfolio of the risky Option Arm loans which have proved to have a high default rate. The decision was made to offer loan modifications that eliminate negative amortization and will be more affordable for borrowers over the long term.

Homeowners who are having difficulties paying their Chase, WaMu or EMC mortgages should apply for the new Chase loan modification program. If you can answer yes to these basic qualifications, you are a good candidate for help:

• live in the home as your primary residence
• loan originated before January 1, 2009
• loan amount less than $729,750
• Facing a financial hardship situation
• Current payment equals more than 31% of your gross monthly income

Interested borrowers should contact Chase and ask to be considered for the Home Affordable Modification Plan. The homeowner then needs to complete the application and provide the necessary documentation for final approval to obtain the new modified payment. During the review process, any foreclosure proceedings will be halted.

Not all borrowers will qualify, so it is important to learn about the guidelines and know how to complete the paperwork properly. If the paperwork is not completed properly, even the most deserving homeowner may be denied the loan modification help they need and deserve. It is important for homeowners to learn about the application process so they will have a better chance of approval for a Chase loan modification.

You can get the help you need to apply and qualify for a Chase loan modification by ordering the best selling handbook for homeowners, The Complete Loan Modification Guide. This is a low cost, easy to read, home edition loan mod kit that will provide you with everything you need to prepare a professional and acceptable loan modification application. You are provided with all of the necessary forms and given detailed directions on how to complete them properly.

Home Edition Loan Modification Kit with Customer Assist

The Complete Loan Modification Guide will take you step by step through calculating your debt ratio, completing the financial statements, writing your hardship letter and then putting it all together to submit to your lender. You also get 30 days of email support to ask questions, a series of insider tips and a monthly newsletter to keep you up to date on program changes. Learn how to qualify for the Obama Federal loan modification plan. Need help completing your loan modification forms?  Find out about our Customer Assist program-you work one-on-one with your very own expert to make sure your application is completed correctly. Get started today on the path to secure home ownership, order The Complete Loan Modification Guide. For more information about mortgage loan modification, please visit us at: http://www.myloanmodificationcenter.com