Chase has stepped up and is reaching out to homeowners and offering loan modifications to qualified applicants. Chase has set up Home Loan Centers throughout the country to talk to homeowners face to face. Bringing all your documents and meeting with a Chase loan representative is the smartest idea ever in this economy. What better way for a homeowner in distress than to meet one on one and get the facts first hand. If questions come up they can be answered immediately, if documents are missing it is known on the spot. So much time is saved by completing a home loan modification application in the presence of a loan officer, especially if questions need to be answered.

Banks are looking to save borrowers from losing their homes because if the homeowner leaves the banks lose too. If you are falling behind in your payments and need assistance do not hesitate to contact your lender. Be persistent and tell them your story, they will listen. There are homeowner counselors available even outside your lending institution. Call your lender and tell them you want to do a work out or need some assistance to keep your home.

Foreclosure mediation is another avenue that can be taken if all else fails. The courts are holding foreclosure mediation sessions and the lender must appear and try to do a work out plan with the borrower. Loan modifications can be worked out but you must qualify with your income and debt ratio. Filing bankruptcy is an option whereby you can eliminate your debt and still save your home. Remember everything is based on your qualifications and the lenders guidelines. But, do try.