2nd_mort_agreement_OC.doc - Financial Recovery USA

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					                                                                                                        1524 E Lincoln Ave
                                                                                                          Orange, CA 92865
                                                                                                    Toll Free: 800-385-0745
                                                                                                         Fax: 888-308-1314



                                Financial Recovery USA Group, Inc.
                                             Agreement For Services


This Agreement for Services (this "Agreement") is made effective as of / /  , by and
between _______________________________________ (Client), and Financial Recovery USA
Group, Inc. (FRUSA) located at 1524 E Lincoln Ave, Orange, CA 92865.

1. DESCRIPTION OF SERVICES. FRUSA will provide to Client the following services:

    “Attempted Settlement of Underwater Junior Lien”
        FRUSA will attempt to negotiate a settlement with your lienholder, detailed below, to
        settle your lien for less than what you currently owe. FRUSA will use its best efforts to
        obtain the greatest reduction possible of the balance.
        THIS IS NOT AN OFFER OR ATTEMPT TO MODIFY YOUR LOAN. THE
        ATTEMPTED SETTLEMENT IS STRICTLY AN ATTEMT TO SETTLE A
        DEBT FOR LESS THAN THE BALANCE OWED.

Position of lien: 2nd / 3rd / 4th (circle one)
Bank: _________________________ Loan# _____________________ Balance: $___________

2. PAYMENT FOR SERVICES. In exchange for the “Services” client will pay compensation
   to FRUSA according to the following schedule:
   a. An initial setup and administration fee of $___________. This is to be paid in full before
   FRUSA starts any work for the client. (This fee is non-refundable and is not considered to be
   part of your settlement fees.)
   b. If FRUSA is successful in obtaining a settlement of 30% or less of the current face value
   of the loan, client will pay FRUSA a performance fee based on the 2nd mortgage schedule of
   performance fees. Your loan amount is $____________, this falls into the _____ category
   and will result in a performance fee of $______________, if FRUSA is successful in
   achieving a settlement of 30%, or less, of the face value of the loan. (Financing options are
   available, for FRUSA fees only, if client is unable to pay FRUSA at time of settlement.)
   c. If client receives no settlement, or chooses not to accept the settlement obtained by
   FRUSA, the client has no further financial obligation to FRUSA and will be considered Paid
   in Full upon receipt of an appropriate release.


                                                                   Having Read Please Initial Here (______)*


  “Let us not become weary in doing good, for at the proper time we will reap a harvest if we do not give up.” Galatians 6:9
                                                                                                        1524 E Lincoln Ave
                                                                                                          Orange, CA 92865
                                                                                                    Toll Free: 800-385-0745
                                                                                                         Fax: 888-308-1314




3. FRUSA will attempt to settle your debt in a manner that will avoid litigation. You
    acknowledge that FRUSA cannot prevent a creditor from bringing legal action against you
    and that, if a judgment is obtained, the creditor may use whatever legal means available to
    collect said judgment. FRUSA WILL NOT assist in any legal action filed against you.
4. If legal action is taken against you by any of your creditors, FRUSA will continue to
    negotiate a resolution of the debt. Be advised, however, that FRUSA does not provide legal
    advice or legal services to you.
5. All information provided to FRUSA regarding your financial condition is your sole
    responsibility. You agree to indemnify and hold harmless from any liability incurred by
    FRUSA based on any false or misleading information you provide.
6. FRUSA DOES NOT, AND WILL NOT, FURNISH ANY LEGAL ADVISE OR LEGAL
    SERVICES. FRUSA SHALL NOT ADVISE CLIENT REGARDING ANY LEGAL
    ISSUES OR AS TO THE LEGAL EFFECT OF ANY SETTLEMENT. FRUSA
    STRONGLY RECOMMENDS THAT CLIENT SEEKS THE ADVICE OF
    COMPETENT LEGAL COUNSEL FOR ADVICE ON LEGAL MATTERS.
7. FRUSA will attempt to settle your debt in a manner that will avoid litigation. You
    acknowledge that FRUSA cannot prevent a creditor from bringing legal action against you
    and that, if a judgment is obtained, the creditor may use whatever legal means available to
    collect said judgment. FRUSA WILL NOT assist in any legal action filed against you.
8. If legal action is taken against you by any of your creditors, FRUSA will continue to
    negotiate a resolution of the debt. Be advised, however, that FRUSA does not provide legal
    advice or legal services to you.
9. All information provided to FRUSA regarding your financial condition is your sole
    responsibility. You agree to indemnify and hold harmless from any liability incurred by
    FRUSA based on any false or misleading information you provide.
10. TERM. This Contract will terminate automatically upon completion by FRUSA of the
    Services required by this Contract.
11. CONFIDENTIALITY. FRUSA, and its employees, agents, or representatives will not at
    any time or in any manner, either directly or indirectly, use for the personal benefit of
    FRUSA, or divulge, disclose, or communicate in any manner, any information that is
    proprietary to client. FRUSA and its employees, agents, and representatives will protect such
    information and treat it as strictly confidential. This provision will continue to be effective
    after the termination of this Contract. Upon termination of this Contract, FRUSA will return
    to client all records, notes, documentation and other items that were used, created, or
    controlled by FRUSA during the term of this Contract.

                                                                   Having Read Please Initial Here (______)*

  “Let us not become weary in doing good, for at the proper time we will reap a harvest if we do not give up.” Galatians 6:9
                                                                                                        1524 E Lincoln Ave
                                                                                                          Orange, CA 92865
                                                                                                    Toll Free: 800-385-0745
                                                                                                         Fax: 888-308-1314




12. WARRANTY. FRUSA shall provide its services and meet its obligations under this
    Contract in a timely and workmanlike manner, using knowledge and recommendations for
    performing the services which meet generally acceptable standards in FRUSA's community
    and region, and will provide a standard of care equal to, or superior to, care used by service
    providers similar to FRUSA on similar projects.
13. ENTIRE AGREEMENT. This Contract contains the entire agreement of the parties, and
    there are no other promises or conditions in any other agreement whether oral or written
    concerning the subject matter of this Contract. This will only change in the event FRUSA is
    successful in settlement and a settlement or finance contract is executed. This Contract
    supersedes any prior written or oral agreements between the parties.
14. SEVERABILITY. If any provision of this Contract will be held to be invalid or
    unenforceable for any reason, the remaining provisions will continue to be valid and
    enforceable. If a court finds that any provision of this Contract is invalid or unenforceable,
    but that by limiting such provision it would become valid and enforceable, then such
    provision will be deemed to be written, construed, and enforced as so limited.
15. TERMINATION OF AGREEMENT. FRUSA may withdraw from representing you if: (1)
    you misrepresent or fail to disclose any material facts; (2) you act contrary to FRUSA’s
    advice; (3) you do not return FRUSA phone calls or emails in a timely manner; (4) you fail to
    set aside sufficient money to satisfy a negotiated and approved settlement. You shall have the
    right to terminate FRUSA services at any time, effective on fifteen days’ notice.
16. RESPONSIBILITIES OF EACH PARTY. FRUSA agrees to respond promptly to your
    inquiries and communications. Furthermore, FRUSA shall keep you informed of
    developments affecting the matters of this agreement. You further agree to keep FRUSA
    informed of changes in your address, telephone numbers, email and other contact
    information.
17. In entering into this agreement, you represent that FRUSA has not and will not take any
    actions to disrupt the contractual relationship between you and any of your creditors.
    Decisions regarding continuing or ceasing payments to your creditors are in your sole
    discretion. You engage FRUSA for the purpose of negotiating a settlement with your
    creditors. You intend by this agreement to create a confidential agreement with FRUSA.
18. AMENDMENT. This Contract may not be modified or amended.
19. GOVERNING LAW. This Contract shall be construed in accordance with the laws of the
    State of California.


                                                                   Having Read Please Initial Here (______)*

  “Let us not become weary in doing good, for at the proper time we will reap a harvest if we do not give up.” Galatians 6:9
                                                                                                        1524 E Lincoln Ave
                                                                                                          Orange, CA 92865
                                                                                                    Toll Free: 800-385-0745
                                                                                                         Fax: 888-308-1314


20. NOTICE. Any notice or communication required or permitted under this Contract shall be
    sufficiently given if delivered in person or by certified mail, return receipt requested, to the
    address set forth in the opening paragraph or to such other address as one party may have
    furnished to the other in writing.
21. NOTICE OF CANCELLATION. You may cancel this transaction without any penalty or
    obligation at any time with fifteen days’ notice. If you cancel within 5 business days of the
    date you signed your contract, all administration and setup fees will be returned within 10
    business days following receipt of your cancellation notice.

THE UNDERSIGNED UNDERSTANDS THAT FINANCIAL RECOVERY USA IN NO
WAY OFFERS OR IMPLIES ANY GUARANTEES OR WARRANTIES REGARDING
THE OUTCOME OR SUCCESS OF THE SETTLEMENT OR THAT ANY
SETTLEMENT OFFERS WILL BE ACHIEVED AT ALL. _________ initial.

THE UNDERSIGNED UNDERSTANDS THAT THE DEBT BEING SETTLED IS A
SECURED CREDIT OBLIGATION. IF THEY GO DELINQUENT, DISCONTINUE
PAYMENT OR OTHERWISE NOT FULFILL THE ORGINAL TERMS OF THE DEBT;
THEIR CREDIT WILL BE ADVERSELY AFFECTED AND THE CREDITOR MAY BE
ABLE TO FORCLOSE ON THE SECURED PROPERTY. _________ initial.

THE UNDERSIGNED ALSO UNDERSTANDS THAT THERE MAY BE TAX
LIABILITIES INCURRED BY SETTLING DEBT. _________ initial.




Date:_____________                                              Counselor: _________________________




Sign and Date:                                                  Sign and Date:

________________________________                                 ___________________________________

Print                                                           Print
____________________________________                            _______________________________________




  “Let us not become weary in doing good, for at the proper time we will reap a harvest if we do not give up.” Galatians 6:9
                                                                                                        1524 E Lincoln Ave
                                                                                                          Orange, CA 92865
                                                                                                    Toll Free: 800-385-0745
                                                                                                         Fax: 888-308-1314




Notice of Cancellation
Enter date of cancellation: __________________

You may cancel this transaction without any penalty or obligation at any time. If you cancel
within 5 business days of the date you signed your contract, all administration and setup fees will
be returned within 10 business days following receipt of your cancellation notice.

To cancel this transaction, mail, send or deliver a signed and dated copy of this cancellation
notice, or any other written notice to:


Financial Recovery USA Termination Dept.

19725 Sherman Way Suite 295
Winnetka, CA 91306


I hereby cancel this transaction for the following reason(s): ______________________
______________________________________________________________________________
______________________________________________________________

Date: ______________________________

Client Name: _________________________

Client Signature: ________________________

Date:_________________________________




  “Let us not become weary in doing good, for at the proper time we will reap a harvest if we do not give up.” Galatians 6:9
                                                                                                        1524 E Lincoln Ave
                                                                                                          Orange, CA 92865
                                                                                                    Toll Free: 800-385-0745
                                                                                                         Fax: 888-308-1314




                                 Limited Power Of Attorney
I/We, ________________________________________________________ hereby authorize
Financial Recovery USA Group, Inc. and all of its agents or representatives (collectively
“Company”) permission to communicate with my creditors in negotiating the validity, reduction,
settlement, and/or payment as may be required, of accounts owed to my/our creditors.
No power is given to Financial Recovery USA Group, Inc. to execute any documents on
my/our behalf.

I/We also authorize Financial Recovery USA Group, Inc. and all of its agents or representatives
to request and receive confidential credit and account information from creditors, credit reporting
agencies, and other third parties who are involved with my/our credit issues. I further authorize
Financial Recovery USA Group, Inc. and all of its agents or representatives to release a copy of
this Limited Power of Attorney to my/our creditors.


Client's Name:                            ____________________________________

Co-Applicant's Name:                      ____________________________________

Address:                                   ____________________________________

City/State/Zip:                           ____________________________________

Client's Date of Birth:                    _________________

Co-Applicant's Date of Birth:              _________________

Client's Social Sec #:                     _________________

Co-Applicant's Social Sec #:               _________________


Date: ______________


Client Signature: _____________________________________


Co-Applicant Signature: ____________________________________



  “Let us not become weary in doing good, for at the proper time we will reap a harvest if we do not give up.” Galatians 6:9
                                                                                                      1524 E Lincoln Ave
                                                                                                        Orange, CA 92865
                                                                                                  Toll Free: 800-385-0745
                                                                                                       Fax: 888-308-1314




           2nd Mortgage Schedule of Performance Fees



    Category                Loan Amount                                             Performance Fee

         A.                 $0 - $50,000                                            $2,500

         B.                 $50,001 - $100,000                                      $5,000

         C.                 $100,001 - $150,000                                     $7,500

         D.                 $150,001 - $200,000                                     $10,000

         E.                 $200,001 - $250,000                                     $12,500

         F.                 $251,001 - $300,000                                     $15,000

         G.                 $300,001 - $350,000                                     $17,500

         H.                 $350,001 - $400,000                                     $20,000

         I.                 $400,001 - $450,000                                     $22,500

         J.                 $450,001 - $500,000                                     $25,000

         K.                 $500,001+                                               $27,500




“Let us not become weary in doing good, for at the proper time we will reap a harvest if we do not give up.” Galatians 6:9

				
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