Lender and Servicer Programs

When you speak with your lender or servicer, ask them if you qualify for their programs. A short list is below which does not include all of the available programs:

Chase's Program:
Click on this link for more information: (Chase now owns EMC and Washington Mutual)http://investor.shareholder.com/JPMorganChase/press/releasedetail.cfm?ReleaseID=344473

Enhanced programs seek to help an additional 400,000 families; With families already helped, total foreclosure preventions projected to top 650,000; $110 billion in mortgages to be modified


Citi's program
http://www.mortgagehelp.citi.com/The Office of Homeownership PreservationPhone: 1-866-915-9417Fax: 1-480-753-7832Email: mortgagehelp@citi.comHours of operation:Mon–Thurs: 6am–6pm PSTFri: 6am–3pm PST
homeownerhelp@citi.com
Phone Number: 1-866-255-3901


Countrywide's Program
Bank of America Announces Nationwide Homeownership Retention Program for Countrywide Customers.Program will systematically modify troubled mortgages with up to $8.4 billion in interest rate and principal reductions for nearly 400,000 Countrywide Financial Corporation customers nationwide.http://my.countrywide.com/media/FinancialAssistanceEN.html


Loans backed by Freddie Mac or Fannie Mae: "Lenders are willing to change the loan terms if homeownership costs exceed 38 percent of gross monthly income — a measure known as the debt-to-income ratio. Lenders use this benchmark for determining the size of a loan."
You can access the full article here: http://www.nytimes.com/2008/11/30/realestate/30mort.html?partner=rss&emc=rss&pagewanted=all

Indy Mac's program:

http://www.fdic.gov/consumers/loans/modification/indymac.htmlIndyMac Federal Bank, FSB (“Indymac Federal”) will implement a new program to systematically modify troubled mortgages. The program is designed to achieve affordable and sustainable mortgage payments for borrowers and increase the value of distressed mortgages by rehabilitating them into performing loans. This in turn will maximize value for the FDIC, as well as improve returns to the creditors of the former IndyMac Bank and to investors in those mortgages. The new program will help IndyMac Federal improve its mortgage portfolio and servicing by modifying troubled mortgages, where appropriate, into performing mortgages.