FAYETTEVILLE, N.C., Sept. 21, 2011 – Continuing its support of military personnel and their families, Chase has opened its newest Homeownership Center in Fayetteville, near Fort Bragg, to provide one-on-one help for homeowners struggling with their mortgage payments.
Chase will host local nonprofit leaders and government officials at a special open house today from 9 to 10 a.m. at the new center, located at 4151 Sycamore Dairy Road, Suite 101, Fayetteville, NC 28303.
"We are staffing all of our Homeownership Centers near military bases with employees who have served in the military or military family members," said Steve Stein, head of Homeownership Preservation at Chase. "They understand firsthand the needs of military personnel."
The Fayetteville Center follows recent openings of Homeownership Centers near Fort Hood, Texas, and Hampton Roads area military bases in Virginia. The bank will open three other Homeownership Centers this year near the following military bases:
? Camp Lejeune, Jacksonville, N.C. ? Fort Campbell, Clarksville, Tenn. ? Joint Base Lewis-McChord, Lakewood, Wash.
Chase will have a total of 82 Homeownership Centers nationwide by the end of the year. Counselors at the centers already have met with more than 150,000 borrowers.
Open six days a week with day and evening hours, the Homeownership Centers reflect the bank's commitment to families impacted by the nation's economic challenges.
"Chase has helped more than half a million Americans avoid foreclosure, and we've prevented nearly twice as many foreclosures as we've had to complete," said Stein. "Our Homeownership Centers are a vital part of our wide-ranging efforts to help families stay in their homes whenever possible."
Chase has prevented more than 625,000 foreclosures through modifications, forbearance, short sales and other programs. It has offered more than 1.1 million modifications, with more than 350,000 completed.
Each Homeownership Center features:
Trained advisors. A team of homeownership advisors will assist customers whose circumstances have changed and are no longer able to make their scheduled monthly payment, who want to avoid foreclosure and stay in their home. The trained advisors will evaluate their finances, review possible workout options and answer any questions.
Scheduled appointments. To reduce wait time, customers are encouraged to set up an appointment in advance. They should bring documentation, including recent W-2s and tax forms, recent pay stubs and bank statements and monthly expense documentation. Also, they should bring any information, such as a hardship letter, that will help explain their current financial challenges.
For information, borrowers struggling with Chase or EMC-serviced loans can go to www.chase.com/myhome or call (910) 867-1051. Borrowers can schedule appointments or simply walk in six days a week.
Chase's commitment to military members and veterans
Earlier this year, Chase dramatically expanded the ways it is helping military members and veterans. Specific actions to keep servicemembers in their homes include:
? Introducing an enhanced modification program for all members of the military who have served on active duty at any time since Sept. 11, 2001. The program is offered to those who are behind on or having trouble making their mortgage payments. ? Modifying the interest rate on a second mortgage owned by Chase to 1% if the bank modifies any Chase-owned or Chase-serviced primary residential mortgage. ? Prohibiting foreclosure on any currently deployed active military personnel. This change goes beyond current Servicemembers Civil Relief Act (SCRA) requirements, which protects military borrowers against foreclosure if they took out their loans prior to going on active duty.
As part of a comprehensive strategy to support the unique needs of military members, veterans and their families, Chase has also launched a series of initiatives in close partnership with government organizations, non-profits, educational institutions and other firms. Specifically, Chase is donating 1,000 homes to veterans over the next five years through its nonprofit partners and -- through the 100,000 Jobs Mission partnership -- has pledged with other firms to collectively hire a total of 100,000 veterans by 2020.
Chase has also partnered with Syracuse University to establish the Institute for Veterans and Military Families to provide education programs for veterans and in-depth analysis of the challenges facing the veteran community. In addition, the bank has formed a multi-year partnership with the Center for a New American Security to address issues impacting U.S. service members, veterans and their families in support of the White House's "Joining Forces" initiative.