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Online Lenders Fast Track the Refinancing Process

(ARA) – It’s always a good idea to read the fine print. But when it comes to your mortgage, failing to do so can lead to financial disaster. That’s the situation many homeowners are finding themselves in now that the housing market has cooled.

Federal Reserve Chairman Ben Bernanke has said mortgage delinquencies and foreclosures are likely to continue increasing this year and into 2008. And although Bernanke says he doesn’t anticipate these increases will derail the overall economy, each delinquency and foreclosure is a personal crisis for someone.

For many troubled homeowners, refinancing flexible rate mortgages into more stable, traditional products may be the solution. Those on the brink of losing their homes, or who are trying to head off impending problems, often find they don’t have a month or two to spare going though a traditional refinancing process. Online resources, like ELoan.com, are helping homeowners refinance in record time and pay attention to the fine print so they secure the best possible deals.

While other Web sites act as match-makers, pairing consumers with potential lenders, ELoan.com is the lender. When consumers apply through the Web site, they are dealing directly with the company who will finance their loan. ELoan representatives are also able to help consumers identify the loan product that will best meet their needs, and the company’s rates are competitive with those offered by big box lenders.

Applying online greatly reduces the time involved in the application and approval process. Applicants enjoy the convenience and privacy of conducting the application from the privacy of their own home, where all their financial documents can be at their fingertips. Handling the application online also allows E-Loan to achieve an economical, streamlined process that enables the company to offer very competitive rates.

Online loan applications are the most time-efficient way to obtain a loan today. In addition to home refinance loans, E-Loan also offers first mortgages, traditional fixed rate mortgages, ARMs, home equity loans, auto loans, student loans and many other financial services. To fast track your home refinancing, visit www.eloan.com.

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