Loan Modification/Short Sale Consulting Agreement
THIS AGREEMENT is made and entered into this ___
day of _________, 2009
between KDP LOAN MODIFICATION, LLC (“Company”) and _______________________________________________________ (“Client”).
Client‟s Property: Street Address:___________________ City/Town: State: Zip: ___________________ ___________________ ___________________
Name of Bank Holding Mortgage (“Lien Holder”): _____________________________ Account Number: ______________________________________________________ Current Interest Rate: _____ Is the Rate fixed:______ Current Monthly Payment: __________ What is the Maximum Monthly Payment that is affordable to you? ________________ Is this to be a ___ Loan Modification or ___ Short Sale? In consideration of the mutual benefits and obligations of the parties set forth in this Agreement, the Company hereby agrees with the Client to use its best efforts to act as the Client „ s consultant and representative in negotiating the terms of the debt owed by the Client/Homeowner to the Lien Holder such efforts shall be for the purposes of Loan Modification or Short Sale if so requested by the Client. ARTICLE I OBLIGATIONS OF THE PARTIES 1.1 The Company's Obligations: The Company shall use its best efforts to consult and aid in the loan modification process, by negotiating the terms of the debt owed by the homeowner to the Lien Holder. The Company shall (1) Process any and all documents pertaining to the negotiations, mediation, and approval of the special terms by the Lien Holder; (2) Conduct directly or through third parties affiliated with the Company the actual negotiations with the Lien Holder.
1.2 The Client's Obligations: The Client is required to provide the Company with a completed application packet which will be provided to Client by the Company. The Client is further required to provide the Company with All of the documents required for the negotiation of the debt, including but not limited to, those documents which are itemized on a chart supplied within the application packet. Further documentation may be required and Client is responsible to provide such documentation upon request. The Client is further obligated to pay the fees as per Article II below. ARTICLE II THE COMPANY'S COMPENSATION Consideration to Company: The Company shall receive a fee of ____________________ ($____.00) if the Company successfully negotiates an approval with the Lien Holder for a renegotiation of the homeowner's debt owed against the property, in a way which benefits the Client and that the Client approves of. Client will be obligated to pay this fee at the time this agreement is signed. All fees are totally refundable if the modification/short sale is not successful. ARTICLE III TYPE OF AGREEMENT This agreement is and shall he an exclusive right for negotiation with the lien holder(s) from the date first set forth above until ninety (90) days thereafter and the Company's right to a fee will arise from an approved loan modification offer from the Iien holder(s) at acceptable terms. ARTICLE IV CONFIDENTIALITY 4.1 Confident Obligations: During the term of this Agreement the Company may acquire personal and financial information about the Client. This information is to be used only for the negotiation of a loan modification for the client and will not be sold, distributed, or shared in any other way. 4.2 End of Services: Except as provided in section 4.3 below, at the completion of services for Client, and after fulI payment for services rendered, all Company copies of Client documents will be destroyed or returned to Client if requested by Client in writing prior to completion of services. 4.3 Fee Dispute: In the event of non-payment by Client for services rendered, the Company reserves the right to use Clients documents in any resulting fee dispute litigation, mediation or arbitration if the documents are relevant in any way to the dispute.
ARTICLE V GENERAL PROVISIONS
5.1 Binding Effect/Benefits: This Agreement shall inure to the benefit of the parties hereto and shall be binding upon the parties hereto and their respective heirs, successors, and assigns. Except as otherwise set forth herein, nothing in this Agreement, expressed or implied, is intended to confer on any person other than the parties hereto or their respective heirs, successors, and assigns, any rights, remedies, obligations, or other liabilities under or by reason of this Agreement. 5.2 Governing Law: This Agreement shall be constructed as to both validity and performance and enforced in accordance with and governed by the laws of the State of New Hampshire. 5.3 Responsibility of Fees: In the case of a dispute, any and aII legal fees the Company may incur shall be borne by the Client, and shall be the responsibility of the Client, unless specifically ordered to the contrary by a court of competent jurisdiction 5.4 SeverabiIity: If any terns, covenant, condition, or provision of this Agreement or the application thereof to any circumstance shall be invaIid or unenforceable to any extent, the remaining terms, conditions, and provisions of this Agreement shall not be affected thereby and each remaining term, covenant, condition, and provisions of this Agreement shall be Valid and shall he enforceable to the fullest extent permitted by law. If any provision of this Agreement is so broad as to be unenforceable, such provisions shall be interpreted to be only as broad as is enforceable. 5.5 Entire Agreement: This Agreement shall constitute the entire agreement between the parties and any prior understanding or representation of any kind preceding the date of this Agreement shall not be binding on either party to this Agreement except to the extent incorporated in this Agreement. 5.6 Amendments: This Agreement may not be modified or changed except by an instrument or instruments in writing signed by the Company and the Client. 5.7 Assignment: The rights and obligations of the parties under this Agreement shall not be assignable except with the prior written consent of the other party hereto. Any assignment not consented to in writing, is prohibited and as to the assignee, is void on assignment.
IN WITNESS WHEREOF, the parties have caused this Agreement to be executed as of the date first above written. The Client:
Sign:__________________
Print Name:__________________
Date:__________________
SSN:_______________________
DOB:__________________
Home Phone:___________ Email:_________________
Cell Phone:__________________
KDP LOAN MODIFICATION, LLC The Company:
Sign:_________________
Print Name:__________________
Date:_________________
Title:_______________________
Company Phone:___________________ Company Fax:_____________________ Company E-mail:___________________ Website: www.____________.com Please make check payable to the order of: KDP LOAN MODIFICATION, LLC
Important Disclaimer
We are not agents or representatives of the United States Government. Most banks and mortgage servicers will allow you to negotiate on your own for a modification or short sale without charging you a fee for this service. We offer consultation and experienced partners who will guide you throughout the process for a fee. Nothing will be charged if a modification or short sale cannot be reached on your behalf.
Acknowledgement of receipt of this Disclosure:
__________________________________ Client 1
________________ Date
__________________________________ Client 2
________________ Date