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Chase Refinancing Plan: A Workable Refinancing Solution for Anyone
In today’s economic climate, it is easy to get behind on mortgage payments. The worst thing a homeowner can do is ignore the problem; most banks are ruthless and will foreclose against the property. Banks loans have become difficult to obtain with the bad credit ratings that come along with falling behind on mortgage payments. Even if you choose to walk away from the property, the bank can still hold you responsible for any losses once they foreclose. One of the smartest moves a homeowner can make is to contact a bank willing to work with them on a refinancing plan that will have lower, more manageable mortgage payments.
Chase Bank is currently providing a way out of the current mortgage crisis for existing customers as well as new ones. The Chase Refinancing Plan is an easy, affordable option to selling the property or foreclosure.
The Chase Bank refinance offer has streamlined the entire refinancing process online; with a few clicks, most people can be preapproved for a refinanced mortgage that suits their individual needs. Chase offers a variety of refinancing loan terms and options such as:
- Fixed-Rate Mortgages: The interest rates on Fixed-Rate mortgages remain the same for the term of the loan. Lower monthly payments are possible when they are spread out over a longer term than your current mortgage.
- Jumbo Mortgage: These Chase refinance offers are for the holders of large mortgages, up to $2 million. They are available as Adjustable Rate or Fixed Rate mortgages.
- Adjustable Rate Mortgages (ARM): An arm is a good option for someone choosing to stay in the home for a short period of time. The interest rates will start lower at a fixed rate but will rise after a pre-determined period of time. Even then, there is a limit to the annual rise of interest rates, making this an affordable option to get out of immediate trouble.
- DreaMaker Mortgage: This Chase refinance offer is for those with less than perfect credit, offering flexible credit determinations and closing cost assistance. These refinance offers include both ARMs and Fixed Rate Mortgages.
- Home Affordable Refinance Program (HARP): This Chase refinance offer is only for existing Chase customers. It boasts faster approval time, less paperwork, and the ability to get more than the home is worth if a person is upside down on their mortgage.
- FHA mortgage: This refinance program is government insured and offers lower down payments for people with bad credit. They can be either Fixed Rate loans or ARMs.
The Chase refinance offer is currently accessible online. Their webpage, offers several helpful tips such as what documents are needed to start the loan process, a sample loan application, a guide to understanding your credit score, and a quick pre-approval application to jump-start the entire refinancing process. Chase’s online page also offers many tools to help the homeowner decide what loan is most appropriate and how much he can comfortably pay per month.
If foreclosure is in the future or mortgage payments have become unmanageable, ignoring the problem is the most damaging thing a homeowner can possibly do. The Chase Refinancing Plan might have a solution for anyone, regardless of credit, to finally take charge of their mortgage.
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