Chase has officially opened four new homeownership centers in three California counties – Los Angeles, Orange and San Bernardino – to help families struggling with their mortgage payments.
By the end of the month, Chase plans to have nine centers in California to help borrowers who have a home loan serviced by Chase, Washington Mutual or EMC – all now part of JPMorgan Chase. It will have 24 centers around the country by the end of March, the company says.
"We created these local Homeownership Centers as a place for our borrowers to sit down and discuss their situation face-to-face with trained loan advisors in these challenging times," says David Schneider, head of mortgage servicing at Chase. "They are part of a wide-ranging initiative to help families stay in their homes whenever possible."
Each of the centers will feature trained advisors and, in an effort to reduce wait time, will offer scheduled appointments. In late 2008, Chase announced initiatives designed to help a total of more than 650,000 families, and the company says it expects to modify more than $110 billion of home loans.