JPMorgan Chase will open 25 new homeownership centers in 19 states all over the country to better help cash-strapped consumers avoid the threat of foreclosure, according to a report from the company. These centers provide Chase customers with the ability to sit down with a company representative and find ways to keep their home even as money problems mount.
“The best way to help borrowers find ways to stay in their homes is to sit down face-to-face and discuss their individual circumstances,” said David Lowman, chief executive officer of Chase Home Lending. “We educate borrowers on their options and help structure a solution that’s right for them.”
The new centers will include the first locations in 12 states, such as Connecticut, Indiana, Kentucky, Louisiana, Maryland, Massachusetts, Minnesota, Missouri, North Carolina, Oregon, Utah and Wisconsin, the company said. It will also add to the number of counseling centers in California, Florida, Illinois, New York/New Jersey, Texas and Washington.
In all, Chase will soon have locations in 27 states and Washington, D.C.
Many consumers who have had serious trouble paying their monthly mortgage obligation may seek out various programs that allow them to renegotiate the terms of their loans to make them more affordable.