Chase Homeownership Centers to Help People Keep Their Homes

Homeowners in the Boston area, as well as around the country, will be able to receive assistance with avoiding foreclosure from the JPMorgan Chase & Co. The nationwide lender has opened what is known as the Chase Homeownership Center for troubled borrowers who are struggling to repay their mortgage loans. Providing loan modifications and other resources, it is helping many people keep their homes.

What is the Chase Homeownership Center?

The Chase Homeownership Center is provided by the lender as a way to sit down, face-to-face, with borrowers who need assistance staying in their homes. Because the foreclosure rate is so high, the lender said it wants to make a special effort to help homeowners avoid losing their homes, whether they’re in danger of default or have an underwater mortgage they can no longer handle.

Some centers have already been opened around the country, the oldest opening about three years ago. The center says it has already helped almost half a million people avoid foreclosure by providing loan modifications and hopes to get more under control in the coming months and years.

25 New Locations Opening Nationwide

On Wednesday, JPMorgan Chase announced it would open 25 new centers nationwide, with one of the latest ones opening in the Boston area. This location will service homeowners who have mortgages with Chase, EMC or Washington Mutual.

After the new centers open, there will be 76 nationwide that are available for troubled homeowners. Which mortgage loans the centers will be able service will depend on where you live and what servicers handle Chase-affiliated mortgages in the area.

Troubled borrowers are encouraged to visit Chase’s website to learn more about the center. The lender believes if more borrowers reach out for assistance, the center may actually be able to provide more loan modifications and other help that could avoid home loss.