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Major lender will open home loan counseling centers

(02/04/2011) One of the nation's largest home loan issuers will soon open counseling centers for troubled consumers in a number of states across the country.

In the coming months, JPMorgan Chase will open 25 new homeownership centers in 19 states all over the U.S. The new centers, which will help financially challenged borrowers receive counseling and other types of assistance from mortgage professionals, will include locations in 12 states for the first time: Connecticut, Indiana, Kentucky, Louisiana, Maryland, Massachusetts, Minnesota, Missouri, North Carolina, Oregon, Utah, and Wisconsin.

In addition to counseling, troubled homeowners may also benefit from refinancing their existing mortgage, which can save them hundreds of dollars a month. Many consumers will check online rate tables to find the best local refinancing rates.

The best way to help borrowers find ways to stay in their homes is to sit down face-to-face and discuss their individual circumstances," David Lowman, CEO of Chase Home Lending.

Chase has found considerable success with its counseling centers, as more than 120,000 consumers have visited in an effort to stay in their homes since 2009, the report said. In all, the expansion will bump the number of locations to 76 in 27 states and Washington, D.C.

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