Community Services

Modification Process

Loan modification and loss mitigation sound intimidating to the standard homeowner, but the process isn’t a mystery. By following a prescribed action plan, the process can reach a successful conclusion in a relatively short time.

It starts with an e-mail or phone call.

As soon as you contact Community Services, your case is registered and assigned to a rep who will work with you throughout the entire process. Within 24 business hours of your initial contact, your Community Services representative will reach out to you to obtain more details.

Your to-do list.

To get the process rolling, your representative will ask for required supporting documents:

• Hardship Letter - Include dates, reason for delinquency, what you have done to attempt to workout problem in the past; also include any supporting documents for hardship. While your EHM Financial Services rep will be happy to provide guidance if needed, the short and straightforward letter must be in your own words.
• Bank Statements - Last two (2) months.
• Proof of Wages and Salary - Employed - Pay stubs for last two (2) months; Self-employed - 1040s for the last two (2) years.
• Federal Tax Returns - First and second pages (W2s) from the last two (2) years.
• Rental Agreement - If the loan modification is not for your primary residence.
• Modification Authorization Agreement- Completed and signed.

Next steps.

Your Community Services rep will work with your lender, exploring options that will provide a satisfactory conclusion for all parties involved. In many cases, we’ll have an answer within 60 days, and sometimes sooner. While Community Services negotiates a solution, you can relax and focus on more important tasks, such as work and family.

It’s guaranteed!