EMC Loan Modification Process
EMC Mortgage is a subsidiary of JP Morgan Chase that specifically deals with sub-prime mortgages. Due to the increasing number of foreclosures EMC has experienced in recent months, they have created a division of their company nicknamed the “Mod Squad” to process loan modifications. The loan modification process will require borrowers to attend mortgage and budgeting information classes in an effort to prevent future financial problems.
The EMC loan modification program generally works through community based outreach programs that are dealing with the housing problems. The loan modification process, once completed, will bring the mortgage current and help prevent foreclosure.
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