Home Purchase Mortgage Calculators
Mortgage Program Calculators
You are taking the right step by working directly with Chase to try to modify your mortgage as your current lender is the only party that has the ability to change the terms of your loan. There are also multiple government-backed refinancing programs designed to help people who are underwater on their mortgage. Programs for underwater borrowers include HARP, the Home Affordable Modification Program (HAMP) and the Principal Reduction Alternative (PRA). You and your mortgage must meet certain eligibility requirements to participate in any of these programs and Chase must participate in these programs. The best way to determine if you are eligible for these programs is contact Chase and ask them.
If you believe your lender is not acting in good faith, you can contact a lawyer to discuss your situation. You can also contact your local housing authority or community housing organization. These organizations may provide anti-foreclosure programs or offer other local programs for distressed borrowers. If you work with a third party, be aware of individuals or companies that promise to modify your mortgage or help you avoid foreclosure for an up-front fee as these are typically scams.