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Press Release - Morgage Modification

VIEWS: 4 PAGES: 10

  • pg 1
									Dear Homeowner,

Mortgage Modification.org wants you to know that your situation is a matter that we
have had unprecedented success in resolving.
On a daily basis Attorneys are in constant contact with ALL of the Lenders in
America that are in control of the Mortgage Industry.

Mortgage Modification.org has found a process in which an existing loan's terms
and conditions such as the interest rate and monthly payment schedule is modified
with the approval of the Lender, this makes it more affordable for the debtor,
allowing for the payoff the outstanding balance or adjusted balance. Mortgage
Modification.org facilitates Legal Representation that can be used as leverage to get
better terms and conditions on your Home Mortgage.

When filling out the attached paperwork please be honest and forthcoming with all
of your critical data. The Attorneys that will be negotiating your Mortgage
Modification will need to have your complete and detailed picture of your current
circumstance.

A Mortgage Modification is an option that you can request through your current
Mortgage Company. You are not refinancing to a whole new loan. You are asking
for a Modification of your existing loan. Not all mortgages can be modified, so you
will need to discuss this with your mortgage company.

You should always Protect your Home and Avoid Foreclosure



          Legal Representation . The Law Offices of William O’Toole, P.A.
                        200 South Andrews Avenue, Suite 502
                             Fort Lauderdale, FL 33301




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888-684-7372                         Page 1 of 10                  954-919-9394
           Documents Checklist
  Case Manager Report (INTERNAL USE ONLY)

  Financial Worksheet (INTERNAL USE ONLY)

  Home Owner Authorization Form

  Payment Authorization Form

  Most Recent Mortgage Statement

  Hardship Letter

  Two Months of Most Recent Bank Statements

  One Month of Most Recent Paystubs (YTD Profit & Loss if Self Employed)

  W2 for the Past Two Years (Complete Tax Returns if Self Employed)

  Copy of Mortgage Application* (1003/8 – When Applied for Existing Loan)

  Copy of Complete Closing Package*

  Any Correspondence Remitted by Your Mortgage Lender

  Retainer Agreement

* These documents are required to perform the loan documentation audit.




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Financial Worksheet:
                        INSTRUCTIONS
Please fill out form accurately and completely. This form is for our internal data only and does NOT get sent
to the lender.


Order Form:
Please complete form and choose which payment method the client prefers.
If check or money order, please make copy and attach it to the file.


Case Manager Report:
This form allows us to pre-qualify the case. It needs to be completed by the “Originator” when interviewing
the client. All fields need to be filled out accurately and completely.


Hardship Letter:
This is a must and should be written in detail explanation the home owner’s situation. Please read the
Hardship Letter Instructions for a better understanding (last page of package).


Home Owner Authorization Form:
Complete form including but not limited to, lender’s name and loan #.
In the event there is a 1st and 2nd mtg, please complete to separate forms (one for each, even if it is the same
lender holding both notes).


Other Documents:
Please gather all necessary documents listed on the cover sheet of our package and submit complete file at
one time.
                                                THANK YOU!



888 – MTG . RESCUE                                                          FAX ALL DOCUMENTS TO:
888-684-7372                                     Page 3 of 10                         954-919-9394
                                  CASE MANAGER REPORT
                       (TO BE COMPLETE BY ORIGINATOR / INTERVIEWER)

Office Submitted by _____________________________________________________________
Consultant’s Name ______________________________________________________________
Home Owner Name (s) ___________________________________________________________
Property Address ________________________________________________________________
Lender(s): 1st Mortgage __________________ Loan Number ___________________________
2nd Mortgage __________________ Loan Number ___________________________
3rd Mortgage __________________ Loan Number ___________________________

Home Owner Contact / Personal Information
Home Owner Name (s) __________________________________________________________
Property Address _______________________________________________________________
Property City, State & Zip Code ___________________________________________________
Home Owner Current Address _____________________________________________________
Is the subject property a Primary Residence Second Home or Investment Property? (Please circle one)
Home owner 1 Date of Birth ___________________        Home Owner 2 Date of Birth __________________
Home Phone_________________ Work Phone ________________ Cell Phone_______________
E-Mail_________________________________________________________________________

Home Owner Income Information
Total Monthly Net Income (after taxes) $__________________________
Total Monthly Expenses $______________________________________
Total Amount of Money in the Home Owner savings account $___________________________
Three (3) month average balance in the Home Owner savings account $____________________
Total Amount of Money in the Home Owner checking account $__________________________
Three (3) month average balance in the Home Owner checking account $__________________
Total Amount of money in retirement savings (401k, IRA, etc…) $___________________
Are these assets available to pay the Mortgage? Yes or No
Number of people in home _________________ Number of people in the home under the age of 18 __________

Has the Home Owner filed for Bankruptcy? Yes or No
If yes, has the Bankruptcy been fully discharged? Yes or No     Date of Discharge? ________________
Has the Home Owner received foreclosure papers? Yes or No
Has the Home Owner received a notice of sale? Yes or No
Has the court set a sale date? Yes or No             If Yes, then when is the Sale Date? ____________
Has the Home Owner tried to Re-Finance? Yes or No
Has the Home Owner listed the home? Yes or No If Yes, for how long? ___________________

Mortgage Information
1st Mortgage Lender ____________________________ Loan Number ___________________________
1st Mortgage Balance $_________________
1st Mortgage Payment $________________ Does this payment include Taxes and Insurance – Escrows? __________

888 – MTG . RESCUE                                                          FAX ALL DOCUMENTS TO:
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1st Mortgage interest rate ________%
Type of Mortgage (fixed, adjust, balloon) ________________
Months behind on 1st Mortgage? _______________________

2nd Mortgage Lender ______________________________________________________
2nd Mortgage Balance $_________________
2nd Mortgage Payment $________________
2nd Mortgage interest rate ________%
Type of Mortgage (fixed, adjust, balloon) ________________
Months behind on 2nd Mortgage? _______________________

3rd Mortgage Lender_______________________________________________________
3rd Mortgage Balance $_________________
3rd Mortgage Payment $________________
3rd Mortgage interest rate ________%
Type of Mortgage (fixed, adjust, balloon) ________________
Months behind on 3rd Mortgage? _______________________


Property Information
Is the house occupied? Yes or No
Is this house a Primary Residence or 2nd Home or Investment Property? (Please circle one)
Current Value of the home? $___________________________
When was the home purchase? ____________________________
What was the purchase price? $____________________________
How much are the property taxes? $________________________
How much is the annual insurance? (Home Flood and Wind combined)? $_______________________

HARDSHIP
What is the H/O’s hardship? (i.e., lost job, health issues, rate adjustment, divorce, new baby)
_____________________________________________________________________________________
_____________________________________________________________________________________
_____________________________________________________________________________________

Home Owner Goals
What does the H/O need from this modification? (lower rate, principal reduction, longer term)
_____________________________________________________________________________________
_____________________________________________________________________________________
_____________________________________________________________________________________

Client Comments
What are your thoughts regarding this file? Are there any immediate issues that you noticed during the
interview?
_____________________________________________________________________________________
_____________________________________________________________________________________
_____________________________________________________________________________________
888 – MTG . RESCUE                                                          FAX ALL DOCUMENTS TO:
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                      Home Owner Authorization
Home Owner:___________________________________________

Home Owner:___________________________________________                    Lender:_________________________
                                                                          (1st Mortgage)
Subject Property:________________________________________
                                                                          Loan #:_________________________
City:________________________State:______Zip:____________                 (1st Mortgage)

Dear Sir / Madam:

I/We, the undersigned Borrower(s), (hereinafter the Borrower), residing at, _______________________________________

______________________________________________________ (residence of client) authorize The Law Offices of William

O’Toole, P.A., and its representatives (hereinafter LOWO, P.A.) to discuss Borrower request for payment assistance with
__________________________________________________________ (hereinafter the Lender) that the Borrower has
identified as the Borrower’s designated agent(s). Further, LOWO, P.A. is hereby authorized to negotiate the terms of a
workout agreement and/or payoff settlement with Lender and to deliver documents and release additional information to
K&A, which concerns the Borrower request for payment assistance.


The Borrower will be fully responsible for reviewing any information that is sent by Lender to LOWO, P.A.. This
Authorization will remain effective until the Borrower specifically notifies the Lender in writing that this Authorization is
of no further force and effect. This is in accordance with Title 24 of the CFR 203.500 (HUD) were applicable.


Your prompt reply is appreciated.


The Law Offices of William O’Toole, P.A. is defined as all representatives of LOWO, P.A. including, but not limited, to
any and all affiliated companies and said companies’ employees.


____________________________ ____________                                    _____________________
Client/Borrower Signature    Date                                            Social Security #


____________________________ ____________                                    _____________________
Client/Borrower Signature    Date                                            Social Security #

                  I hereby certify this to be a true and correct copy of the original signature(s).

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                      Home Owner Authorization
Home Owner:___________________________________________                  Lender:_________________________
Home Owner:___________________________________________                  (2nd Mortgage or HELOC)

Subject Property:________________________________________               Loan #:_________________________
                                                                        (2nd Mortgage or HELOC)
City:________________________ State:______ Zip:____________


Dear Sir / Madam:

I/We, the undersigned Borrower(s), (hereinafter the Borrower), residing at, _______________________________________
______________________________________________________ (residence of client) authorize The Law Offices of William

O’Toole, P.A., and its representatives (hereinafter LOWO, P.A.) to discuss Borrower request for payment assistance with
__________________________________________________________ (hereinafter the Lender) that the Borrower has
identified as the Borrower’s designated agent(s). Further, LOWO, P.A. is hereby authorized to negotiate the terms of a
workout agreement and/or payoff settlement with Lender and to deliver documents and release additional information to
LOWO, P.A. , which concerns the Borrower request for payment assistance.


The Borrower will be fully responsible for reviewing any information that is sent by Lender to LOWO, P.A. This
Authorization will remain effective until the Borrower specifically notifies the Lender in writing that this Authorization is
of no further force and effect. This is in accordance with Title 24 of the CFR 203.500 (HUD) were applicable.


Your prompt reply is appreciated.


The Law Offices of William O’Toole, P.A. is defined as all representatives of LOWO, P.A. including, but not limited, to
any and all affiliated companies and said companies’ employees.


____________________________               ____________             _____________________
Client/Borrower Signature                  Date                     Social Security #

____________________________ ____________                           _____________________
Client/Borrower Signature    Date                                   Social Security #

                  I hereby certify this to be a true and correct copy of the original signature(s).


888 – MTG . RESCUE                                                                 FAX ALL DOCUMENTS TO:
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                                 Financial Worksheet
                      Income                                 Monthly                      Deductions                 Monthly
Gross Wages                                                                   Federal Tax Withholding
Self Employed Income                                                          FICA
Commissions, Bonus                                                            Social Security
Disability Income / SSI                                                       Medicare
Child Support / Alimony                                                       State Tax Withholding
Rental Income                                                                 401K Plan
Unemployment Income                                                           Dues (specify)
Other Income (specify)                                                        Other Deductions (specify)
Pension - Prudential
                                            Total Income                                          Total Deductions


                    Expenses
Real Estate                                                                   Medical
First Mortgage                                                                Health Insurance
Second Mortgage - HELOC                                                       Co-Payments
Taxes (If not part of mortgage payment)                                       Prescriptions
Hazard Ins (if not part of mortgage payment)
Homeowners Assoc / Condo Due                                                  Household
Other Mortgages, Liens, Rents                                                 Groceries
                                                                              Child Care
Utilities                                                                     Clothing
Electricity                                                                   Laundry / Dry Cleaning
Water / Sewer
Gas                                                                           Miscellaneous
Telephone                                                                     Credit Cards Minimum Pmts
                                                                              (total)
Cell Phone                                                                    Installment Loans (total)
Cable / Internet                                                              Student Loans
                                                                              Child Support / Alimony
Automobile                                                                    Spending Money
Loans (vehicle 1)
Loans (vehicle 2)                                                             Other (specify)
Insurance
Gasoline
Repairs
Tolls
                                                                                                 Total Expenses
                                                                                                      Difference

X________________________________________                              X________________________________________
Home Owner Printed Name                                                Home Owner Signature


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888-684-7372                                               Page 8 of 10                           954-919-9394
                                                ORDER FORM
                                                                                                          Date: _______________
Client Information:

Name:
Address:
State/Province:
Zip/Postal Code:
Phone:
Fax:
Email Address:

Deliver Welcome Package To:                                              Same as Above    □
Name:
Address:
State/Province:
Zip/Postal Code:


Payment Method:                                                                             Fee Amount: ___________
Personal Check, Money Order, or Certified Check payable to: The Law Offices of William O’Toole, P.A.

ATTORNEY FEES:
$2,495 – For Mortgages that are $200,000 or over
$1,995 – For Mortgages that are $199,999 or under

Card Number:

Expiration Date:

Cardholder Name:

3 Digit Verification Code (back of card):



My signature below confirms that I have read the retainer agreement between The Law Offices of William
O’Toole, P.A. and myself (client/customer), and that I willingly accept all of the terms and conditions of this
agreement.
Client/Customer Signature: _______________________________________________________________

Disclaimer: Because all of our legal services are for you, the client, and such services are rendered at the time of contract, there
are no refunds, charge-backs or challenges for services paid for with your credit card. Such Challenges or attempted charge-backs
will be considered a breach of your Limited Legal Services Agreement with The Law Offices of William O’Toole, P.A.and fraud.


888 – MTG . RESCUE                                                                      FAX ALL DOCUMENTS TO:
888-684-7372                                             Page 9 of 10                             954-919-9394
                               Hardship Letter Instructions:
DATE

LENDER NAME
ADDRESS
LOAN NUMBER


Dear Sir/Madam,

Our names are/My name is [NAME] and I’ve/we’ve been paying the mortgage on our home
at [ADDRESS] for years now. I’m/We’re writing to you to explain why I/we have
unfortunately fallen behind on our monthly payments.

EXPLAIN YOUR HARDSHIP IN DETAIL HERE

   •    INCLUDE DATES OF EMPLOYMENT AND NON-EMPLOYMENT
   •    ALSO BE SURE TO EXPLAIN HOW AND THAT IT HAS BEEN RESOLVED

We/I have sat down with my/our family and taken a very hard look at our financial situation and
we all have agreed to make the following sacrifices in order to make certain that this situation
never happens again.

EXPLAIN WHAT FINANCIAL SACRIFICES / CUTBACKS YOU’VE MADE HERE:

   •    Cut back on spending (specify)
   •    Cancelled cable television/cell phone
   •    Eliminated costly activities
   •    Met with credit counselors to arrange payment plans

My family and I are truly grateful for the opportunity that you’ve given us to own our home and
have every intention of keeping it for a long while, as well as making timely mortgage payments
to you for it. Our children will grow up here and we hope that our grandchildren will also. Thank
you again and we wish you all the best!


HAVE EVERYONE IN YOUR FAMILY SIGN THIS LETTER HERE




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