Loan Modification Package Empire Ms

The Law Firm of Mark Stumer P.C.

Loan Modification Package

PLEASE COMPLETE AND SIGN THE FOLLOWING DOCUMENTS ATTACHED TO THIS APPLICATION: 1. Modification Starter 2. Financial Statement 3. Third Party Authorization 4. Service Agreement 5. Retainer Agreement 6. Notice of Cancellation part 1 7. Notice of Cancellation part 2 8. Payment Authorization 9. Hardship Letter

PLEASE SUBMIT THE FOLLOWING DOCUMENTS WITH THIS APPLICATION:

IMPORTANT REMINDER

Mortgage Note Most Recent Mortgage Statement 2 Months Pay Stubs

2 Months Bank During the modification process of your loan, it is Statements your responsibility to make any and or all 2 Years W-2’s and Tax payments to the best of your ability on all loans Returns under their current terms. If you are capable of making payments during the negotiation process, continuing to do so may or may not benefit your negotiation. It is in your best interest to continue making your loan payments we encourage you to do so. Please sign and date below to verify you have read and understand this notice.

____________________ Signature ____________________ Signature

_____________ Date _____________ Date

1. MODIFICATION STARTER Date of Application

Account Executive

PERSONAL INFORMATION Name

Co-Borrower

SSN

SSN

Address

Address

Home Phone

Home Phone

Cell/Work

Cell/Work

Fax

Fax

Email

Email

PROPERTY INFORMATION Interest Rate

Type of Mortgage

q Fixed q ARM

q Other Home Value $

Mortgage Balance $

Annual Taxes $

Date of last Refinance

Are Taxes Current? q Yes

q No

Has Borrower been late on any payments? q Yes Mortgage Lender Approximate equity left in house $ Name(s) on Deed

EMPLOYMENT INFO

Escrow in Mtg. Payment? q Yes q No Loan #

q No

Name of Employer

Name of Employer

Address

Address

Position

Years

Position

Years

Gaps

Gaps

Credit Status

Credit Status

q W-2 or q 1099 (Self-employed)

q W-2 or q 1099 (Self-employed)

Lost job or income lowered? q Yes

q No

Lost job or income lowered? q Yes

q No

2. FINANCIAL STATEMENT Borrower Name

Social Security/DOB

Home Phone

Business/Cell Phone

Borrower Employer

Position/How Long

Monthly Net Income

Rental/Other Income

Co-Borrower Name

Social Security/DOB

Home Phone

Business/Cell Phone

Co-Borrower Employer

Position/How Long

Monthly Net Income

Rental/Other Income

Property Address Street have you owned?

City State

ZIP

How long _____

_____ Years Mailing Address of Dependents?

Street

City State

ZIP

Number

MONTHLY EXPENSES Alimony Auto Insurance Auto Loan Auto Loan Gas/Parking Cable TV/Sat. Child Care Club/Union Dues Credit Card Bills Dry Cleaning Other Loans Groceries Gas, Water, Electric

ASSETS $ $ $ $ $ $ $ $ $ $ $ $ $

Description 401(k) Vehicle Year Vehicle Year Cash C.O.D. Checking IRA Life Insurance Mutual Funds

Estimated Value

Amount Owed

Model Model

Net Value

Home Owners Insurance Life Insurance Medical Expenses Other Mortgage Rent Church/Charity Tuition Spending Money Property Taxes Telephone Other

$ $ $ $ $ $ $ $ $ $ $

Other Real Estate Personal Property Primary Home

Savings Stocks/Bonds

Other

Borrower Signature

Date

Co-Borrower Signature

Date

3. THIRD PARTY AUTHORIZATION

Third Party Authorization and Agreement to Release Loan Number Name(s) Property Address For the purpose of assisting in pursuing and negotiating a loss mitigation alternative, I do hereby give my written permission to __________________________ (my lender/mortgage servicer) to release or to otherwise provide to _____________________________________ of The Law firm Mark Stumer P.C. in his/her capacity as

_________________________

Relationship (if applicable) Phone #

_________________________

Public and non-public personal finance information contained in my loan account which may include, but is not limited to, loan balances, final payoff statements, loan status, payment history, payment activity, and/or property information. We, the lender/mortgage servicer will take reasonable steps to verify the identity of the 3rd party authorized above, but will have no responsibility or liability to verify the true identity of the requestor when he/she asks to discuss my account or seeks information about my account. Nor shall we, the lender/mortgage servicer, have any responsibility or liability for what the

requestor may do with the information he/she obtains concerning my account. I do hereby indemnify and forever hold harmless the lender/mortgage servicer, from all actions and cause of action, suits, claims, attorney fees, or demands against the lender/mortgage servicer which I and/or my heirs may have resulting from the lender/mortgage servicer discussing my loan account and/or providing any information concerning my loan account to the above named requestor or person identifying themselves to be that requestor.

Printed Customer Name Customer Signature

Date

4. SERVICE AGREEMENT _______________________________ Hereinafter (“Client”) agrees to retain The Law Firm of Mark Stumer P.C. for the purpose of modifying Client’s current mortgage on the property known as ______________________________________________________________________________________ _. We appreciate your confidence in our firm and, while we can make no guarantee as to the outcome of your matter, we will keep you Updated as to the status of your modification. In turn, you will cooperate with us so that we can properly handle your matter.

The Law Firm of Mark Stumer P.C. fee for services rendered by us to you is _______________________________________________________________(The “Fee”). Payment shall be made as follows: a onetime fee of_________________________ dollars that is a NON-REFUNDABLE ______ ( INITIAL ) processing and retainer fee, due upon completion of your initial package (payable to the The Law Firm of Mark Stumer P.C.). Mortgage modification may consist of but not limited to, change of interest rate, change of length (term) of loan, a forbearance agreement arranged, waiver of late charges and a change from an adjustable interest rate to a fixed interest rate. Payment is to be made by credit card, debit card, money order or bank/official check. No other forms of payment will be accepted. In the event that you fail to cooperate or provide us with inaccurate or false information, The Law Firm Of Mark Stumer P.C. may decline to proceed with your matter and retain the amounts already paid. Additionally, the client understands that upon acceptance of funds, the client is to immediately discontinue all communications with their lending institution(s) unless otherwise authorized by The Law Firm of Mark Stumer P.C., and any breach of this condition can jeopardize The Law Firm of Mark Stumer P.C. negotiating proceedings and voids the aforementioned return policy. This agreement states the total understanding between The Law Firm of Mark Stumer P.C. and you as to the scope of service we are providing on your behalf. It authorizes us to act on your behalf and an execution of this agreement indicates a commitment by both parties to be bound by its terms. The laws of the State of New York shall govern these terms. Once again, thank you for the confidence you have placed in us. We look forward to working with you and serving your interests.

Very Truly Yours, The Law Firm of Mark Stumer ____________________________ By: Accepted and agreed by: _____________________________ Signature

Date _____________

____________________________ Signature

Date _____________

5. RETAINER AGREEMENT

The Law Mark Stumer P.C.

73 Ireland Place Suite 204 Amityville, NY 11701

(Part 1 of 2) Re:

Modification of Existing Mortgage Loan

Dear Sir / Madam, You are hereby retaining the law firm of Mark Stumer P.C. to represent you in negotiating a possible modification of your existing mortgage. The Law Firm Mark Stumer, P.C its partners, associates, paralegals, or other personnel assigned to your file specifically are not making any guarantee that they will be able to secure a modification of your existing loan. It is the firm’s customary practices, and it is now a requirement of the Office of Court Administration, to provide you, as our prospective client, with a written engagement letter with respect to our engagement and representation. You shall initially pay us a retainer and processing fee of ____________ This fee encompasses our review of the modification package and negotiation of a possible modification of your existing loan. By executing this agreement you specifically acknowledge that the fees being accepted are on behalf of The Law Firm of Mark Stumer P.C. We remind you that we are your attorney and represent you.

(Part 2 of 2)

The Law Firm of Mark Stumer P.C.

73 Ireland Place Suite 204 Amityville, NY 11701 A mortgage modification may consist of, but not be limited to, change of interest rate, change of terms, forbearance agreement, waiver of late charges and/or principal or a change from an adjustable interest rate to a fixed interest rate. The foregoing fees are due regardless of the amount of time spent on your file. Your fees are also capped at this rate. It is understood that this retainer is limited to the services referred to above. It does not include any other legal services, including, but not limited to commencing or defending any litigation, bankruptcy filing or counseling regarding insolvency or other proceedings, court appearances of any kind or nature or any legal services outside the scope of this agreement. It is further understood that the retainer fee does not include any out of pocket disbursements, which will be billed for separately. Out of pocket expenses include, but are not limited to long distance telephone calls if needed, postage and photocopies. This Agreement may not be changed except in writing signed by the parties. If this arrangement meets with your approval, kindly sign your name in the space provided below and return it to us together with your bank or certified check in the amount of $_____________. You may also pay by personal check or money order. We are delighted to have the opportunity to work with you and appreciate your confidence in us. The Law Firm of Mark Stumer P.C . By: ___________________________ Mark Stumer, P.C The foregoing terms and conditions Have been read and are understood. They are agreed to and accepted.

_______________________________ _______________________________

6. NOTICE OF CANCELLATION (Part 1 of 2) You may cancel this contract, without any penalty or obligation, at any time before midnight of (If blank then effective 5 calendar days from execution of this Notice) To cancel this contract, sign and date both copies of this cancellation notice and personally deliver one copy or send it by facsimile, United States mail, or an established commercial letter delivery service, indicating cancellation to the Distressed Property Consultant at one of the following:

The Law Firm of Mark Stumer P.C. 73 Ireland Place Suite 204 Amityville, NY 11701

I hereby cancel this transaction. Name of Homeowner

Signature of Homeowner

Date

7. (Part 2 of 2) NOTICE REQUIRED BY LAW You may cancel this contract, without any penalty or obligation, at any time before midnight of _________ _______________________ (if blank then effective 5 calendar days from execution of this Notice) or anyone working for the Consultant may not take money from you or ask you for money until the Consultant has completely finished doing everything this contract says the Consultant will do. You should consider consulting an attorney or a government-approved housing counselor before signing any legal document concerning your home. It is advisable that you find your own attorney, and not consult with an attorney recommended to you by the Consultant. A list of housing counselors may be found on the website of the New York State Banking Department, www.banking.state.ny.us or by calling the Banking Department toll-free at 1-877-BANK-NYS (1-877-226-5697). The law requires that this contract contain the entire agreement between you and the Consultant. You should not rely upon any other written or oral agreement or promise. Name of Homeowner

Signature of Homeowner

Date

9. HARDSHIP LETTER Dated: To: Whom it May concern RE: Explanation of Financial Hardship I/we are having problems making my/our monthly payment because of financial difficulties created by: (Check all that apply) ____ Business failure ____ Death of Spouse ____ Disability ____ Divorce

____ Illness ____ Military Service ____ Incarceration ____ Reduced Income ____ Job Relocation ____ Too much debt ____ Medical Bills ____ Unemployment

Other (Please specify) _______________________________________________________________________ _ I/We believe that my/our situation is: ______Temporary

_______Permanent

Following is an explanation of the events, which lead up to this hardship: