Chase customers getting loan modifications without asking

September 11, 2012 5:55:07 PM PDT
Some Chase customers are getting loan modifications without even asking for them.

It has to do with the $25 billion settlement between the attorney generals of 49 states and five largest lenders. Chase agreed to more than $4 billion in mortgage relief.

The bank sent out notices to its customers, but it's not even waiting for those it knows will qualify. One homeowner received a notice in the mail reducing the mortgage rate from 6.5 percent down to 2.8.

The settlement includes a reward for banks that complete their adjustments within one year.


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