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Will handle servicing and collection of assigned accounts, contact customers, advise of responsibilities on loans, and help them repay loans. The payment terms are based on your payday schedule. For full details, see the Terms and Conditions for this program. So when the letter arrived, Michelle's heart sank. The credit is rebuilding, we just want to unload our somewhat pricey place for something that will enable us to pay off our debts 500 a month quicker. This summer, the couple received a letter from JPMorgan Chase (JPM, Fortune 500), their mortgage servicer, informing them that it was going to slash the interest rate on their mortgage to 2.8% from chase mortgage their current rate of 6.5% for the next five years and then adjust it to a fixed 3.9% for the remaining 18-year term of their loan -- a move that would reduce their payments by $229 a month. 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