Everyday nowadays, it has become a possibility to locate general statistics on the increasing amount of home foreclosures that today’s economically challenged times seem to have caused, to the depression of many homeowners.
However, only very few get to witness the toll on human lives that result from such foreclosures first-hand. Some of the people who get to witness this would be the staff of the sheriff departments, as they are the ones who have to serve the papers on foreclosure and help run certain sheriff sales on each of the properties.
It is no secret that these staff members can’t help but feel sorry for some of the people who come to their doorstep, like the seniors who have struggled for years or parents who would like to keep their homes intact for their children and their children’s children. The people who approach these staff members aren’t just faceless individuals; they are their neighbors and their friends, making it hard to turn a blind eye.
Additionally, something tends to make things even worse from time to time: banks aren’t even interested in keeping these homes that have gone through foreclosure.
Recently, several sheriff department representatives from Southeast Pennsylvania announced a particular partnership with the company of JPMorgan Chase to offer such homeowners actual help – face-to-face – with advice on saving each of their properties.
JPMorgan Chase has even opened up a center of homeownership, of which there are 24 in total around the entire country, in order to provide homeowners with all the help they would need within Southeast Pennsylvania to keep their homes safe from foreclosure.
At each center, there will be around five advisors for loans who will sit down with homeowners in need who get their services for mortgages from JPMorgan Chase, EMC banks or Washington Mutual. They will then try their best to work out a kind of option that will allow these homeowners to keep their homes and stay in them for a longer period of time.
JPMorgan Chase hopes to make mortgages much more affordable. In fact, they already offer several programs that can make this possible for homeowners to avail of. Their goal would be mainly to help out as much as they can.
For homeowners who live in the general area but have no means of traveling all the way to Delaware County, it can be arranged for loan advisors to meet up with homeowners at non-profit agencies located much closer to their actual living location.
In fact, they are currently trying to figure out whether they can arrange some kind of transportation service for people who hope to meet with a representative of JPMorgan Chase.
Whenever a customer of the bank is served certain papers for foreclosure, sheriff deputies will also be giving out brochures for the center to make it known to homeowners that this particular option is available to them, if they wish to take it. Banks already have to pay service fees in order to have such papers given out, so these brochures will simply be added onto the regular paperwork that is already being given out anyway.
This seems to be the ideal option for homeowners, especially those who have already gone through the initial embarrassment of looking for help.
Related posts:
- Is it a Good Idea to Invest in Foreclosure Property? on February 2nd, 2009
To determine the above statement is not an easy task as it has its own advantage and disadvantage.
- National Economic Stress on July 14th, 2009
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- All about Foreclosure in the East Valley on July 9th, 2009
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