Chase Loan Modification Options
November 18th, 2009
Chase Loan Modification Options
Question: loan modification question what are my options?
I recently aplied for a loan modification with chase and they changed my loan from 9.75 to 9.05!!! what a rip off. I have good credit report never been late on a payment. Why are they not lowering it to 5% or something. What can i do? I dont meet requirement for a refinancing because i can't show my income for 2 years only one
Answer: The 2 main options today are :
6 months of no payments. Then everything resumes like before.
The interest rate is lowered to 4.5% fixed and the loan is extended to 40 years.
Both help a little. Neither changes your life but they can get you thru a bad time..
Loan Modification Legal
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Posted in Home Loan Modification