Chase offers to redo $100B in home loans

With the Obama administration increasing pressure on mortgage companies to do more to address mortgage delinquencies, Chase bank announced it has offered more than 568,000 mortgage modifications, for more than $100 billion in loans, to struggling homeowners in 2009.

The modifications include more than 83,000 that already have become permanent, New York City-based Chase said Tuesday. Chase is the U.S. consumer and commercial banking business of JPMorgan Chase & Co. (NYSE: JPM).

Full story is available on Business Journal

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