Stimulus Package To Refinance Chase Bank Loans - Loan Modification Tips
The economic stimulus package has attempted to tackle some of the issues regarding the mortgage crisis and the refinancing of certain loans. Chase banking which was greatly effected by the crisis is no exception.
The economic stimulus package left you with basically two options if you have had trouble regarding your Chase home loan. One of those choices is to do a complete refinancing as long as you can prove that an overwhelming portion of your income is being eaten up by the loan or working your way through the process with the help of HUD under the new secretary there Shaun Donovan.
Natalia Osorio Editor of the "Stop Foreclosure Loans" website -- http://www.StopForeclosureLoans.org -- pointed out;
“…The people at HUD can give you pointers on how to navigate your way through the program. The reason for the changes is partially because Chase was bought by Bank of America, or at least many of their toxic assets were. Then in order for a company like Bank of America under Kenneth Lewis, they had to focus upon how to get their fiscal house in order…”
In order to qualify for the refinancing program you need to make sure that your bank has your tax returns and any kind of credit card or financial records in order to make an informed decision. The stimulus package refinancing program is suppose to make things better for people who had trouble with their loans before so don't extend the problem by being dishonest. The jumbo rate that is involved in the refinancing portion of the economic stimulus package is for those people who want to be able to pay off their loan with one or several large sums. The fixed interest rate plan seems to be the steadier approach for those who still want to be able to pay off an interest only plan over an extended period of time.
“…It will be interesting to see if some of the reforms being pushed by Treasury Secretary Tim Geithner as far as regulating the banking industry may conflict with some parts of the Obama stimulus reforms as banks begin to refinance loans. They will have to make sure that one regulatory body knows what the other one is hoping or planning to do…” N. Osorio added.
Further information about how to get professional assistance with a mortgage loan modification by http://www.StopForeclosureLoans.org
The economic stimulus package left you with basically two options if you have had trouble regarding your Chase home loan. One of those choices is to do a complete refinancing as long as you can prove that an overwhelming portion of your income is being eaten up by the loan or working your way through the process with the help of HUD under the new secretary there Shaun Donovan.
Natalia Osorio Editor of the "Stop Foreclosure Loans" website -- http://www.StopForeclosureLoans.org -- pointed out;
“…The people at HUD can give you pointers on how to navigate your way through the program. The reason for the changes is partially because Chase was bought by Bank of America, or at least many of their toxic assets were. Then in order for a company like Bank of America under Kenneth Lewis, they had to focus upon how to get their fiscal house in order…”
In order to qualify for the refinancing program you need to make sure that your bank has your tax returns and any kind of credit card or financial records in order to make an informed decision. The stimulus package refinancing program is suppose to make things better for people who had trouble with their loans before so don't extend the problem by being dishonest. The jumbo rate that is involved in the refinancing portion of the economic stimulus package is for those people who want to be able to pay off their loan with one or several large sums. The fixed interest rate plan seems to be the steadier approach for those who still want to be able to pay off an interest only plan over an extended period of time.
“…It will be interesting to see if some of the reforms being pushed by Treasury Secretary Tim Geithner as far as regulating the banking industry may conflict with some parts of the Obama stimulus reforms as banks begin to refinance loans. They will have to make sure that one regulatory body knows what the other one is hoping or planning to do…” N. Osorio added.
Further information about how to get professional assistance with a mortgage loan modification by http://www.StopForeclosureLoans.org
