Stimulus Package to Refinance Chase Bank Loans - Mortgage Modification Tips

By Sani Orman

The 2009 Stimulus Package introduced by the US Federal Government is aiming mainly at the welfare of the home owners. The keyword is 'affordability' and 'loan modification'. This plan is 'owner friendly' in every sense. The main idea of the Stimulus Package is to save the homes by stopping the bankruptcies & foreclosures.

Chase Bank lets the consumers pick the right mortgage according to their needs by offering them the options such as Fixed Rate, Jumbo, Adjustable Rate (ARM), Interest Only, etc. Just like the Stimulus Package, Chase bank is willing to help the home owners in getting loan modifications & refinances.

If you want to apply for the loan modification or refinance through Chase bank, checkout the following points:

• Be prepared with all the documentation along with the hardship letter. The required documents include your credit card details, tax returns, expense details & bills, etc.

• Be prompt each time the bank gets in contact with you.

• You are the one who needs the loan modification so you should approach the bank in a polite manner. You can directly contact the Chase bank through a prompt call or through their official website.

• Do not misinform or hide any bit of information from the bank because if once you loose the opportunity it would be really tough to apply for the loan modification or refinance in future.

• Check that your mortgage value exceeds 105% of the current market value of the house and the mortgage plan is owned or / and insured by Fannie Mae & Freddie Mac. These are the mandatory eligibility criterion defined by the Stimulus Package in order to apply for the loan modification or refinance.

• You can consult the counselors appointed by the US Federal Housing & Urban Development Department absolutely free of cost. They will act as your representative in front of the Chase Bank.

To know more about Chase Loan Refinance Programs and to check if you qualify Click Here --> Chase Loan Modification Help President Obama has offered $1000 incentive for home owners that opt for Loan Modification instead of Short Sale Or Foreclosure. To know more about Latest Loan Modification Programs and to check if you qualify for Government Grants