Chase to Host Foreclosure-Prevention Events in Eight Major Markets

As part of its ongoing efforts to help homeowners avoid foreclosure, ""Chase"":https://www.chase.com/Chase.html, the consumer and commercial banking[IMAGE]

business of New York-based ""JPMorgan Chase & Co."":http://www.jpmorganchase.com/corporate/Home/home.htm, announced Wednesday that it is hosting multi-day homeowner assistance events exclusively for struggling Chase homeowners in eight major markets across the United States.

These events will take place over the next five months, during which up to 40 Chase counselors will work with homeowners for up to 12 hours a day for four or five days in a central location, such as a civic center or community college. Many of the counselors will also be based in the 51 Chase homeownership centers across the country, which the bank began opening in early 2009 to provide face-to-face counseling to homeowners who have fallen behind on their mortgages.

""We are building on the terrific customer experiences at our Chase homeownership centers across the country,"" said Dave Lowman, head of home lending at Chase. ""The centers have provided personalized help to more than 91,000 borrowers, and we expect these events will helps thousands more in just a few days.""

Chase's first homeownership preservation event was held in Florida, where counselors met with 3,200 customers. Chase said half of the homeowners were able to speak with counselors in less than 10 minutes, and 85 percent waited no more than 30 minutes. In addition, nearly 75 percent of the customers said their experience was ""excellent,"" and another 12 percent said it was ""very good.""

As a result of this positive feedback, Chase plans to host multi-day events in eight other markets. Events are scheduled for May 13 through May 17 in Chicago and for various dates in June in both Atlanta and Washington, D.C. Events are also being planned for New York, Northern California, Orlando, Phoenix, and Southern California, but specific dates have not yet been finalized.

By attending these events, homeowners with Chase mortgages can receive a vareity of services, including initial counseling for borrowers applying for a mortgage modification, counseling for customers who are current on their mortgage but are struggling, and short-sale assistance for homeowners who cannot afford their home or don't want to stay in it. In addition, customers can drop off documents they need to submit as part of their trial plan, and they can sign final modification documents if they are ready to complete modification agreements.