REFINANCE - HOME EQUITY LOAN

Document Sample
REFINANCE - HOME EQUITY LOAN Powered By Docstoc
					 REFINANCE / HOME EQUITY LOAN
             GEORGE WASHINGTON TENANTS CORP.


             REFINANCING THE SAME AMOUNT OR SHORTENING
                           THE LOAN TERM



Please submit six (6) sets of the following items if you are refinancing your present loan
amount at a lower interest rate (this includes a slight increase for included closing costs) or if
you are shortening the term of your present loan (i.e.: from 30 years to 15 years)

The processing fee is payable at the time of package submission. Only Certified Check,
Bank Check or Money Order will be accepted.

   1. Check in the amount of $250.00 made payable to John B. Lovett & Associates. This
      includes processing of documentation and completion of Recognition Agreements;

   2. The three (3) original Recognition Agreements you may have already received from
      your lender or their attorney. Please ensure that the Bank has previously signed all
      copies and you should also sign all 3 copies;

   3. The Loan application and Appraisal Report

   4. The loan commitment sent to you by the Bank. The Commitment Letter must include
      your proposed loan amount, interest rate, and monthly payments;

   5. Copy of your recent mortgage bill showing your outstanding loan amount, interest
      rate, and monthly payment.

                                 •   MAXIMUM FINANCING ALLOWED: 70%

The submission of the above documents in complete sets of copies, will expedite the
processing of your request.

      PROCESSING OF YOUR APPLICATION TAKES APPROXIMATELY THREE WEEKS

Send the completed package and appropriate copies to:

Camille Quamina
John B. Lovett & Associates
109-15 14th Avenue
College Point, N.Y. 11356
Attn: Transfer Department
(718) 445 9500 ext 129
Camille@lovettrealty.com

                                                                                        Revised 03/02/09CQ
MOST REQUESTED ITEMS FOR PURCHASE, REFINANCE & EQUITY LINE OF CREDIT.


Please note personal checks will not be accepted. All payments must be in the form of Bank certified check,
Money order or Company Checks, payable to John B. Lovett & Associates, Ltd. Credit Cards are not
accepted. Please note all contact information and fees for the following items:


       ITEM             COST        CONTACT               CONTACT #                      MISC. INFO
                                     PERSON

                                                                                  Please mail $125 with
Bank                     $125        Front Desk    (718) 445 9500 x110            questionnaire and reference
Questionnaire                                                                     the Building &
                                                                                  Apartment #.

                                                                                  Front Desk will provide
Building Insurance       $0.00       Front Desk    (718) 445 9500 x110            Insurance Broke name and
                         (Free)                                                   phone number.

                                                   (718) 445-9500 x142            Please note we charge $20
Financials                $20           Dale       dale@lovettrealty.com          for each year. Payment
                                                                                  must be received with
                                                                                  request

                                                   (718) 445-9500 x142            Located in Offering Plan.
By-Laws                   $25           Dale       dale@lovettrealty.com          Please note payment must
                                                                                  be received with request.

Most Recent                                        (718) 445-9500 x142            Located in Offering Plan.
Amendment                 $25           Dale       dale@lovettrealty.com          Please note must be
                                                                                  received with request.

Offering Plan                                      (718) 445-9500 x142            Please note payment must
(Black Book)             $300           Dale       dale@lovettrealty.com          be received with request.

ALL PAYMENTS, FORMS AND/OR REQUESTS SHOULD BE SENT TO:
JOHN B. LOVETT & ASSOCIATES, LTD.
109-15, 14TH AVENUE
COLLEGE POINT, NY 11356




                                                                                             Revised 03/02/09CQ
            REFINANCING ANY AMOUNT IN EXCESS OF YOUR
                  CURRENT LOAN AMOUNT INCLUDING
         A LINE OF CREDIT, HOME EQUITY OR FIRST MORTGAGE


Please submit six (6) sets of the following items if you are refinancing any amount in excess
of your current loan amount including a Line of Credit, Home Equity Loan or First Mortgage:

Fees are payable at the time of package submission. Only Certified Checks, Bank Checks or
Money Order will be accepted.

   1. Check in the amount of $250.00 made payable to John B. Lovett & Associates. This
      includes processing of documentation and completion of Recognition Agreements.

   2. Completion of the attached credit application for each owner and/or borrower (please
      make a photocopy of co-owner if necessary). The fee for the credit report is $75.00
      per applicant payable to John B. Lovett & Associates. Please note we cannot use
      credit reports obtained from your lender or credit reports used at the time of your
      purchase of the apartment.

   3. The three (3) original Recognition Agreements you may have already received from
      your lender or their attorney. Please ensure that the Bank has previously signed all
      copies and you should also sign all 3 copies.

   4. Copy of the loan commitment sent to you by the Bank. The Commitment Letter must
      include your proposed loan amount, interest rate and monthly payments.

   5. Copy of your recent mortgage bill showing your outstanding loan amount, interest rate
      and monthly payment.

   6. Copy of Loan Application and Appraisal Report

   7. A written explanation of the use of the additional funds.

   8. Copy of two year's full tax returns and a recent pay stub and employment verification
      letter

The submission of the above documents in complete sets of copies, will expedite the
processing of your request.

     PROCESSING OF YOUR APPLICATION TAKES APPROXIMATELY THREE WEEKS

Send the completed package and appropriate copies to:

Camille Quamina
John B. Lovett & Associates
109-15 14th Avenue
College Point, N.Y. 11356
Attn: Transfer Department
(718) 445 9500 ext 129
Camille@lovettrealty.com

                                                                                 Revised 03/02/09CQ
    IMPORTANT INFORMATION REGARDING YOUR SOCIAL
                  SECURITY NUMBER

            PROTECTING YOUR PRIVACY
In order to protect your privacy please remove / blackout your social security
number from each financial institution document inserted into the application.
   • Financial condition (net worth)
   • Tax returns
   • Personal loans
   • Bank statements
         o IRA
         o CD’s
         o Savings

The Credit Agency Authorization Form in the application is the only
form that requires your Social Security number. ONLY send one (1)
Credit Agency Authorization Form to our office with your original
application - do not make or send additional copies of the Credit
Agency Authorization Form. The Credit Agency Authorization Form
containing your Social Security number will be shredded in our office
as soon as we submit the information to the Credit Agency and obtain
your credit report.

If you have any questions please contact the Management Office.




                                                                   Revised 03/02/09CQ
CREDIT REPORT
             GEORGE WASHINGTON TENANTS CORP.

                            CREDIT AGENCY AUTHORIZATION


In order to comply with the provisions of 15 U. S. C. Section 1681(d) of the Federal Fair Credit
Reporting Act, I (we) authorize you to retain Tenant Data Verification Co., Inc. which agency
may obtain, prepare and furnish an investigative consumer report including information on my
character and general reputation, personal characteristics and mode of living, whichever are
applicable, as well as information regarding employment, credit and current financial position.
                                                      
If this is a lease application, I (we) further authorize John B. Lovett & Associates, at its discretion,
to make a copy of such credit report available to the owner of the unit which I (we) propose to
lease.

In addition, within a reasonable period of time, upon written request to John B. Lovett &
Associates, I (we) may obtain a complete and accurate disclosure of the nature and scope of the
investigation requested.

Receipt is acknowledged to the summary of rights enclosed herewith.




       Shareholder’s Name (print):                             SS#:



       Shareholder’s Signature:                                                        Date:



       Shareholder’s Name (print):                             SS#:



       Shareholder’s Signature:                                                        Date:




                                                                                           Revised 03/02/09CQ

				
DOCUMENT INFO