http://www.bankrate.com/brm/news/mtg/20081...ase-WaMu-a1.asp


Corporate owner:
J.P. Morgan Chase

Contact:
Call the telephone number on your mortgage statement.
Call (800) 848-9136.
Call (866) 550-5705.
Visit a Chase regional counseling center.
Web site: www.chase.com.

Noted qualifications:
Hardship letter may be required.
Owner-occupied residence.
Mortgage owned by Chase, WaMu or EMC or with investor approval.

Target debt-to-income, or DTI, ratio: 31 percent to 40 percent, capped at 50 percent for borrowers who've demonstrated they can pay more.

Options:
Repayment plan.
Mortgage modification in hardship situations.
Principal forbearance.
Extension of loan term.
Deferral of principal.
Interest rate reduction.
Foreclosure moratorium.
Interest-only payments for 10 years.
Hope for Homeowners program.
Refinancing with lender-paid closing costs.
Pre-foreclosure short sale.
Deed in lieu of foreclosure.


Letters:
Chase will send letters to borrowers who have subprime adjustable-rate mortgages or payment-option ARMs. Borrowers are more likely to receive a letter if they've racked up the maximum amount of negative amortization and their interest rate is scheduled to reset.