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Chase Customers and Chase Bank Home Loan Modification – The Truth
For a lot of people making ends meet is a challenge right now and they are starting to worry about impending foreclosure. This does not have to happen, however, mortgage loan modifications can help prevent this and give homeowners some time to get their finances in order. Your lender and loan insurer are the determining factors in determining if and how your loan can be modified. This article will focus on the requirements of Chase Bank home loan modifications and how to get one.
Before you begin, you need to know who insures your loan. A lot of people don’t know this since they usually have no reason to. The quickest and easiest way to find out is to call Chase Bank and ask. If you find that Fannie Mae or Freddie Mac insures your loan, you may be a candidate for the President’s $75 Million Homeowner Stability Initiative. This program works with lenders and borrowers to lower monthly mortgage payments to no more than 31% of your monthly income before taxes.
There are, naturally, some requirements. You must own the home you live in, owe no more than $729,750 on your mortgage and must have negotiated your loan before 2009. You must be making payments that exceed 31% of your gross monthly income and you cannot have had your loan modified in the past. If you meet all these requirements, consult with a financial planner to tell you more about it. This government plan helps both lenders and borrowers, so homeowners get better deals through this program than they would when dealing directly with banks.
If it turns out that Fannie Mae or Freddie Mac does not insure your loan, you do not qualify for this government program. There are still alternatives. Chase bank does have its own process and it is worthwhile to investigate their loan modification process, especially before accepting foreclosure. Again, you must own the home you live in, have a mortgage that has never been modified or refinanced and be able to pay a monthly payment of between 31%-40%. The monthly payments may be a little higher since there is not government help as there is in the Homeowner Stability Initiative. If you fill these requirements, Chase will also request a hardship letter, your financial statements, your pay stubs, bank statements and ask to see your tax returns.
Whatever approach you take, either approaching Chase Bank or applying for the Homeowner Stability Initiative, a loan modification is a much better alternative than foreclosure. Your credit score will not be damaged and you can keep your family home.
If you are having trouble paying your mortgage, check out Chase Bank home loan modification and the government initiative program.
Chase Auto Loans – Learn More Before You Seek Them!
Auto loans come in handy when you intend to buy a new or even a used automobile. People usually chase auto loans in following cases.
1. They wish to have the vehicle for them at the end of payment.
2. If they think that their car travel expenses will be more.
3. If they wish to have their car as their part of life.
If you try to chase auto loans for a new car with lower interest rates or make use of the full financing options. Chase auto finance provides a good deal considering the other form of loans. Many people prefer this as it provides pleasant repaying techniques.
When it comes to availing such loans, there are a few factors to be considered before taking a loan. These include:
1. What is the down payment that they are expecting?
2. What is the re-payment time?
3. Is there any penalty for the pre-closure of loans?
4. What is the interest rate that they charge? This should be given additional importance as you should never end up paying more interest than the principal itself. This happens especially in case of many high-end and high cost loans.
5. Are they screwing you with many more unwanted documents, other than the necessary ones?
The best way to strike a good deal before you start to chase auto loans, would be to do some ground work on them. Your friends and relatives who have taken the loan are the best people to guide you through, because they are the people who would have learned from their mistakes.
They would be in a position to help us in determining the best banker or financier to approach, to know the details of the documents to be submitted along with the right possible format and the best rates that you should look out for.
Know how to Chase Auto Loans Here.