JP Morgan Chase has opened a few regional housing centers in Arizona to help homeowners who are facing a foreclosure. The regional centers will employ dozens of loan counselors, housing specialists, and other professionals who will meet face to face with homeowners. A number of services are provided by the locations, including information on federal mortgage programs, locations of non-profit HUD counselors in Arizona, and much more.
They will help people explore new financing alternatives, such as loan modifications and interest rate reductions. The counselors will also proactively reach out to borrowers who are behind on their payments to offer them pre qualified loan modifications, and they will initiate a process to review each loan independently before moving it into the foreclosure process. The review will occur to ensure that all possible solutions are explored.
The bank has said that they have created these local housing centers so that the communication is improved between borrowers and JP Morgan Chase. Now the parties can sit down and discuss their financial situation face-to-face. This interaction will occur between the homeowner and trained loan advisors and other counselors. No longer will individuals need to make a phone call, maybe but placed on hold, and go through that form of long, drawn out communication.
These centers are just one part of the wide-ranging initiatives and assistance programs that are being offered by JP Morgan Chase to help families stay in their homes whenever possible. While all people can stop by and receive some form of guidance, the loan centers are targeted at focused at helping people who are at least 30 days delinquent on their mortgages.
Chase opened its first Arizona loan service center in north Phoenix. The Phoenix Homeownership Center is located at 2501 W. Dunlap Ave. The goal is to help reduce the number of foreclosures that are occurring in Arizona and to help struggling families and individuals make their monthly mortgage payments.
The second center is located at 444 W. Broadway in Tempe. Additional Chase locations may be available as wel in Arizonal, and customers can dial 1-866-550-5705 for detail or referrals.
One of the big advantages of these centers is that when people stop by, they won't be talking to people from Chase who have no decision-making power. They will not have to go through the hassle of sending in paperwork or various forms that gets lost or shelved. Instead, homeowners will meet face to face with people who can offer foreclosure assistance and information on various programs.
Another pro is that it should help people avoid foreclosure “scams” and having to turn to other private companies. This will occur because if homeowners in Arizona can go down to their local branch and get answers to their questions and information on options available to them, there will not be any reason to turn to others for aid.
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