Chase announced that they would also begin a stay on foreclosures and
redefined their loss mitigation processes.
http://investor.shareholder.com/JPMorganChase/press/releasedetail.cfm?
ReleaseID=344473
Less money is lost by the lender in a loan modification/short refinance
than in any other type of loss mitigation option because most of the
middle men are cut out of the transaction.
It won't work for everyone, but it is good to know about if you're
struggling with your mortgage right now.
Jennifer
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