Are you behind on your mortgage with Chase Bank? You probably have already heard about the possibility of a Chase Mortgage Modification through President Obama's plan. You might be able to have your mortgage reinstated and get a new start. You would get a new house payment that would be much more affordable. Best of all, you would save your home from foreclosure! However, do you know how to apply?

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The government program has incentives and guidelines for participating lenders. Chase Bank is a participating lender, and they can do a loan modification, if you qualify. The way the program is set up is that a homeowner will work out their loan modification with their original lender.

This program takes existing mortgages and reworks the interest, term, or possibly the principal, and the homeowner gets a lower monthly payment. The mortgage late fees, penalties, back payments, and back taxes are worked into the life of the reworked mortgage so that there is no upfront payment required. This is a mandatory guideline of the program.

You will contact Chase to get the application process going. Of course, this may be much harder than it sounds. The government program has resulted in an overwhelming response of applicants that appears to have been unexpected by everyone concerned.

President Obama has streamlined the application process somewhat in response to the delay homeowners have been experiencing. There are only two forms you need to fill out. One is an income and expense workup to determine your initial eligibility. There is a hardship affidavit attached to this document that you must sign. The other document gives Chase the authority to access your most recent income tax information. You can apply for a Chase Mortgage Modification with these two forms and proof of income.

For must know facts about how you can get approved for a loan modification, visit our blog at http://1MortgageModifications.com/ to get help today.