Chase says it will participate in Michigan's Hardest Hit fund to help borrowers who are receiving Michigan unemployment benefits. The program may pay up to half of qualified borrowers' monthly mortgage for up to 12 months on their primary residence, saving them up to $9,000.
Chase is offering assistance through the program to customers who are behind on their mortgage payments and to borrowers who are current. The company says it will roll out the program once the Michigan State Housing Development Authority (MSHDA) has all the logistics in place.
‘We've been working closely with MSHDA on the details so this will work smoothly for homeowners,’ says Sarah McClelland, president of Chase in Michigan.