Here's a little known secret: Your bank or mortgage service company
doesn't want your home. They'd much rather
keep you in it making whatever payments you can, than have
another house on their hands. Recent economic
events have put them in position to re-negotiate your current mortgage terms, a process called Loan
Modification.
Loan Modification. Isn't that just a fancy term for refinance? No. In today's economy, it's very possible that you
owe more on your house than it's currently worth. Or that your current loan is at or near 100% of your home's value.
In most cases that makes you ineligible for a refinance.
EFN's financial analysts and legal staff are ready to help. So if you find yourself struggling
to make that monthly mortgage payment or are already behind, you need to act. Quickly! The more pro-active you are,
the more willing your mortgage company is to work with you.
How does Loan Modification work? You may find the EFN approach to Loan Modification a little different than other
companies. Instead of just taking your money and contacting your lender to negotiate any kind of payment/interest
rate/principal balance reduction, we talk to you first. We need to know your entire financial picture, so we can figure
out the best solution for you. That way EFN knows exactly what to ask for when it's comes time to talk to your
lender. We want to feel certain that we can help you before any money changes hands.*
EFN will work with you throughout the entire Home Loan Modification process which is handled in three steps:
- You meet or speak with your EFN representative to discuss your situation. Your representative will then take your
information to our legal council to determine the best course of action.
- Our legal department reviews your information and begins negotiations with your lender.
- Your lender comes back with a solution.
Is it really as simple as that? In many cases, it can be. Nothing is for certain and you may be asked for more
information at any point throughout the Home Loan Modification process. But is that too much to ask for the
opportunity to save your home? So don't wait. Contact EFN today. Use the form on the right,
e-mail us, or give us a call at
(818) 348-8600.
* All situations are different and EFN may not be able to help everyone. If we accept your application, although we
feel very confident that we can get you a Home Loan Modification, EFN cannot guarantee results.