RISMEDIA, February 16, 2009-Chase has marked the official opening of its new homeownership center as it announced the locations of three similar centers in the Los Angeles, Orange and San Bernardino County areas to help families struggling with their mortgage payments.
By the end of the month, the company states, Chase plans to have nine centers in California to help borrowers who have a home loan serviced by Chase, Washington Mutual or EMC – all now part of JPMorgan Chase. It will have 24 centers around the country by the end of March.
“We created these local Homeownership Centers as a place for our borrowers to sit down and discuss their situation face-to-face with trained loan advisors in these challenging times,” said David Schneider, head of mortgage servicing at Chase. “They are part of a wide-ranging initiative to help families stay in their homes whenever possible.”
“During these tough economic times, it is the responsibility of leaders in government and the private sector to do everything within their power to help residents and get homeowners back on-track,” said Los Angeles Mayor Antonio Villaraigosa. “Chase is leading the charge toward financial stability and success for families across the LA area, and I can only hope that banks and lenders of every stripe follow suit and offer services to protect our residents.”
Each of the centers will feature:
– Trained advisors. A team of homeownership advisors will assist customers whose circumstances have changed and are no longer able to make their scheduled monthly payment, who want to avoid foreclosure and stay in their home. The trained advisors will evaluate their finances, review possible workout options and answer any questions.
– Scheduled appointments. To reduce wait time, customers are encouraged to set up an appointment in advance. They should bring documentation, including recent W-2s and tax forms, recent pay stubs and bank statements and monthly expense documentation. Also, they should bring any information, such as a hardship letter, that will help explain their current financial challenges.
– A track record of helping. The advisors reflect Chase’s commitment to helping families sustain homeownership over the long term. Since 2007, Chase has helped prevent 330,000 foreclosures of Chase, WaMu and EMC loans, primarily by reducing interest rates, extending the term of the loans and providing principal deferral.
In late 2008, Chase announced initiatives designed to help a total of more than 650,000 families, and expects to modify more than $110 billion of home loans.
The Chase Homeownership Centers in Los Angeles, Orange and San Bernardino County areas are:
400 N. Brand Blvd., Suite 120
1300 N. Main St.
8599 Haven Ave.
8255 Firestone Blvd.
All four centers will be open from 11 a.m. to 8 p.m. Monday through Friday and 9 a.m. to 1 p.m. Saturday.
The other California facilities will be in Sacramento, La Mesa/San Diego, Oakland, Santa Clara and Stockton.
Chase expects to open the Homeownership Centers later this month in Aventura, Miami, Fort Meyers, Orlando and Tampa, Fla.
Chase expects to open the Homeownership Centers by the end of next month in the following areas: Washington, D.C., Atlanta; Detroit, New York, Philadelphia, Phoenix, Denver, Chicago and Las Vegas.
Customers who would like to receive more information can call 1-866-550-5705.
More information about Chase is available at www.chase.com.