MORTGAGE MODIFICATION ANALYSIS Owned by Fannie Mae or Freddie Mac BORROWER NAME: LENDER: PARTICIATE IN HAMP: MONTHLY GROSS INCOME: COBORROWER GROSS INCOME: Any other source of Income: mortgage) Source/Paystub/Schedule I Source/Paystub/Schedule I (non-borrower/ use only contribution to (Don t have to include alimony or child support or non-borrower household income) TOTAL MONTHLY INCOME: 31% of Gross Income: Current P/I Payment (if interest only factor P/I): HOA Property Taxes if not escrowed: Homeowners Ins if no escrowed: Total Payment: Qualify for HAMP? Traditional mods can be disposable income must be positive cash flow/fannie&freddie typically 4.5% over up to 480 mos PRINCIPAL BALANCE WITH ARREARS: Current Market Value: Is mortgage more than 115% above market value? What is current contractual rate? PRA (PRINCIPAL REDUCTION FORGIVENESS ANALYSIS) (DOESN T APPLY TO FHA, FANNIE, FREDDIE) PROPOSED NEW MOD PAYMENT Breakdown at % under Making Homes Affordable (amortized over 360/480 mo term) (floor is 2%, increases one % until market) Principal and Interest: Taxes: Insurance: HOA: Total New Mod Payment: (should match 31% above for HAMP)
UNITED STATES BANKRUPTCY COURT MIDDLE DISTRICT OF FLORIDA ORLANDO DIVISION In re: Debtor[s]. / Case No. 6:09-bk-0-KSJ Chapter 13 MOTION FOR REFERRAL TO MORTGAGE MODIFICATION MEDIATION The debtor[s] request entry of an order referring the debtor[s] and [list creditors with mortgages encumbering the debtor[s] primary residence] to mortgage modification mediation, and in support state: 1. The debtor[s] filed this Chapter 13 case in an attempt to retain their primary residence. 2. The debtor[s] would like to modify the terms of the mortgage[s] encumbering their primary residence. The debtor[s] income will allow them to contribute as much as 31 percent of their current gross income to payment of their modified mortgage debt. 3. Mediation pursuant to Local Rule 9019-2 will assist the parties in negotiation of a modification of the relevant mortgage[s]. 4. Debtor[s] will pay the $385 mediation cost to the Chapter 13 Trustee prior to attending any scheduled mediation. Wherefore, debtor[s] request the entry of an order referring this case to mediation and for such other and further relief as this Court deems just and proper. DATED: [Attorney Name] [Name & Address of Firm]
UNITED STATES BANKRUPTCY COURT MIDDLE DISTRICT OF FLORIDA ORLANDO DIVISION In re, Debtor[s]. ) ) ) ) ) ) Case No. Chapter 13 MORTGAGE MODIFICATION MEDIATION ORDER This case was considered by the Court on the debtor[s] Motion for Mortgage Modification Mediation (Doc. No. ). Finding that the debtor[s] desire to retain their primary residence and have stated that they have sufficient income to justify mediation with the goal of modifying the current mortgage[s] encumbering their primary residence, it is: ORDERED: 1. Creditor Representative. Within 14 days of the entry of this Order, the creditor, if unrepresented, shall file a designation on the record of the creditor s contact for this loan modification mediation, and supply debtor and debtor s counsel with the loan modification package. 2. Scheduling. Within 28 days of the entry of this order, counsel for debtor[s] or, if unrepresented, the debtor[s] shall coordinate the date, time, and place of the mediation at a mutually convenient time working directly with creditor[s] counsel and the mediator. 3. Completion of Mediation within 90 Days. The debtor[s] and are ordered to attend mediation to be scheduled within 60 days of the date of this order and completed within 90 days, unless agreed to by all parties. 4. Selection of Mediator. The parties shall select a qualified mediator from this Court s list of approved attorney mediators. A Notice of Scheduling Mediation shall be filed with the Court within 7 days of scheduling the mediation. 5. Court Selection of Mediator. If the parties are unable to agree or to secure a mediator within 28 days of the entry of this order, counsel for debtor[s] or debtor[s] shall, or the creditor[s] counsel may, notify the Court, in writing, so that the Court can appoint an acceptable mediator. 6. Debtor[s] Financial Documents. Counsel for debtor[s] or, if unrepresented, the debtor[s] shall, 28 days after entry of this order, provide debtor[s] most current (within 30 days) financial information to Counsel for creditor[s] if applicable and as follows: a. HAMP RMA Financial Disclosure; b. Lender Specific Modification Form; Mediation Order June 2011 (Final).doc / / Revised: 11/16/2011 2:38:00 PM Printed: 11/16/2011 Page: 1 of 4
c. Last 2 months of pay stubs for all non-self-employed borrowers; d. 6 month profit/loss statement from self-employed borrowers, typed, signed and dated on business letterhead; e. Benefit Statements (Social Security, Disability, Unemployment, Welfare, Pension Award Letter, etc.); f. Lease agreement (if claiming rental income), or contribution letter; g. Last 2 months of bank statements (all pages), personal and business, if applicable; h. Last 2 years of signed Tax Returns, personal and business, if applicable; i. IRS Form 4506-T; j. Current utility bill (with debtor[s] name on it and property address); k. Homeowners insurance quote/policy; l. Current tax assessment for property; m. Proof of HOA Dues; n. Hardship Letter, signed and dated; o. Schedule I; p. Schedule J; q. Chapter 13 Plan; r. Consent to Escrow, signed and dated; s. Dodd-Frank Form; and t. Any additional documents requested by creditor. 7. Creditor Request for Additional or Updated Documents. At least 14 days prior to the scheduled mediation, creditor[s] and its counsel shall review the debtor[s] financial information and notify the debtor[s] of any additional or updated financial records they must supply to the creditor[s], the Chapter 13 Program Manager at stevew@c13orl.com, and to the mediator. Debtor[s] shall provide creditor[s] and its counsel all reasonably requested additional financial records within 72 hours of such notification. If there is a non-filing co-borrower, creditor[s] may request financial information from the non-filing co-borrower in anticipation of the mediation if the filing debtor intends to use the non-filing co-borrower s income to qualify for a modification. Upon receipt of all documents, creditor[s] counsel shall timely submit the documents to underwriting at least 10 days in advance of the mediation. 8. Identification of Mediation Participants with Settlement Authority. At least 21 days prior to the scheduled mediation, counsel for the creditor[s] must provide a completed Certification of Settlement Authority identifying the creditor[s] representative[s] who will appear at the mediation to the Chapter 13 Program Manager at stevew@c13orl.com, the mediator, and debtor[s] counsel along with the case number of the action and contact information for all of the parties. The contact information must include the last known mailing address, phone number, and email address for each party. At least one of the creditor[s] representatives designated in the Certificate of Settlement Authority must attend any mediation session scheduled pursuant to this Order. The creditor[s] representative may appear telephonically as long as they also are available to sign a binding settlement agreement by facsimile, email, or other electronic means, at the time of the mediation. Creditor[s] may amend the Certificate of Settlement Authority to change the designated creditor[s] representative provided they supply the amended Certificate of Settlement Authority to the Chapter 13 Program Manager at stevew@c13orl.com no later than 5 days prior to the mediation session. Mediation Order June 2011 (Final).doc / / Revised: 11/16/2011 2:38:00 PM Printed: 11/16/2011 Page: 2 of 4
9. Mediation Parties Must Attend Entire Mediation Session. The trustee of a securitized loan or its fully authorized designee with complete and master servicer settlement authority (to settle within the guidelines of any third party, or subject to any third party investor approval) or a specialist from the creditor[s] mortgage modification department with complete and master servicer authority to settle must attend and continuously participate in the entire mediation session. 10. Telephonic Attendance by Creditors. Both counsel for the creditor[s] and the creditor[s] representative designated in the Certificate of Settlement Authority may participate in the mediation by telephone. If counsel for the creditor[s] or the creditor[s] representative is not physically present at the mediation, each must be able to sign a binding settlement agreement by facsimile, email, or other electronic means, at the time of the mediation. Debtor[s] and debtor[s] counsel or special counsel must be physically present at the mediation. 11. Mediator Report. Within 7 days of the conclusion of the mediation, the mediator is directed to file a written report indicating whether any agreement on a mortgage modification was reached. Parties are directed to promptly seek any necessary court approval for the mortgage modification and to formalize the modification in any needed legal documents. 12. Mediation Fee ($385.00). Upon filing this Motion to Mediate, the debtor[s] shall pay to the Chapter 13 trustee the mediation cost of $385.00 ($350.00 for the mediator and $35.00 trustee fee) for two hours of mediation. The Chapter 13 trustee is directed to disburse to the mediator this fee promptly upon the earlier of the mediator filing a report concluding the mediation, continuing the mediation, or upon modification of the loan. The mediator also is entitled to the full $350.00 fee (and the Chapter 13 trustee is authorized to disburse the fee) if either party fails to timely cancel the mediation session or to attend a scheduled mediation session. A cancellation is considered timely if it is received by the mediator and all parties no later than 14 days prior to the scheduled mediation date. 13. Creditor Fee. Counsel for the creditor[s] is entitled to receive a reasonable fee for all work involved in connection with the mediation, including requesting and reviewing documents, preparing for the mediation, scheduling the mediation, and attending the mediation, and will clearly delineate such fee in the completed agreement or by amended proof of claim. 14. Debtor[s] Counsel Fee. Debtor[s] counsel also is entitled to receive a reasonable attorney s fee, and shall file supplemental or amended Disclosure of Attorney s Fee as required by Bankruptcy Rule 2016(b) within 15 days of receipt. 15. Written Roll. Prior to the commencement of any mediation conference, the mediator shall take a written roll listing the presence of the debtor[s], debtor[s] counsel, if any, creditor[s] counsel, and creditor[s] representative with full authority to settle within the guidelines of any third party or subject to any third part investor s final approval. If the mediator determines that a needed party is not present, the mediator shall report the non-appearance by that party on the written roll. If the mediator determines that the creditor[s] representative present does not have full authority to settle pursuant to the Certificate of Settlement Authority, the mediator shall report that the creditor[s] Mediation Order June 2011 (Final).doc / / Revised: 11/16/2011 2:38:00 PM Printed: 11/16/2011 Page: 3 of 4
representative did not appear on the written roll as a representative with full settlement authority as required by this Order. The written roll and communication of authority of the mediator is not a mediation communication. If a mediation does not occur because a party fails to attend or the creditor[s] representative lacks settlement authority, the Court may order the nonattending party to physically appear at all future scheduled mediations, tax costs of another mediation to the non-attending party, or impose other sanctions as the Court deems appropriate, including entering an Order Granting the Modification of the Mortgage substantially complying with the HAMP guidelines or awarding attorney s fees and costs to the opposing party. 16. Privileged Communications. All statements made by the parties, attorneys, and other participants at or associated with the mediation (except as provided in paragraph 15 above regarding the written roll) are privileged and not reported, recorded, or placed into evidence, made known to the Court, or construed for any purposes as an admission. No party shall be bound by any statement made or action taken at the mediation conference unless an agreement is reached. 17. Stay Lifted to Allow Loan Modification. The automatic stay is modified, to the extent necessary, to facilitate the mortgage creditor[s] loan modification terms pursuant to this Order. The parties shall timely submit any agreed loan modifications to the Court for approval. 18. All parties are directed to comply with this Order and to engage in the mediation process in good faith. Failure to do so may result in the imposition of damages and sanctions. DONE AND ORDERED in Orlando, Florida, on. [NAME OF JUDGE] United States Bankruptcy Judge Mediation Order June 2011 (Final).doc / / Revised: 11/16/2011 2:38:00 PM Printed: 11/16/2011 Page: 4 of 4
LAW OFFICE OF ROBERT B. BRANSON 1501 E. CONCORD STREET ORLANDO, FL 32803 TELEPHONE: (407) 894-6834 TELEFACSIMILE: (407) 894-8859 Robert B. Branson John F. Raffaelli Dear Client, Sometimes a financial hardship can make paying your mortgage payments difficult. As your attorney, I am committed to helping you face your financial difficulties by finding solutions. My staff has been successful in helping people resolve their mortgage delinquency and avoid foreclosure. There are several mortgage options designed to allow you to stay in your home by lowering your monthly mortgage payment. Home Affordable Modification Program (HAMP) which is part of the Homeowner Affordability and Stability Plan (HASP) announced on February 10, 2009 by President Obama. HAMP is aimed at helping at-risk homeowners-both who are in default and those who are at imminent risk of default by reducing monthly payments to sustainable levels. Some have applied for modifications but do not specifically request the government program. It s there to help. You may qualify for HAMP a way to make your payment more affordable if the following criteria s are met: The mortgage loan originated on or before January 1, 2009 The mortgage loan has not been previously modified under the program. The mortgage loan is delinquent or is reasonably foreseeable; loans currently in foreclosure are eligible. The mortgage loan is secured by a one to four unit property, one of which is your principal residence. The property securing the mortgage loan must not be vacant or condemned. You have a monthly mortgage payment ratio greater than 31 percent. The current unpaid principal balance (UPB) of the mortgage loan prior to capitalization must be no greater than o 1 Unit: $729,750 o 2 Units: $934,200 o 3 Units: $1,129.250 o 4 Units: $1,403,400 The investor who holds the mortgage loan allows loan modifications under HAMP If you need the above criteria, it will be necessary for you to update your financial information and to provide documentation that will support financial hardship. We will forward the documentation to your lender to see if you qualify at the lower amount. If so, you will be places on a 3 month trial period. It is very crucial that you make all your payments on time as the (HAMP) is only offered one time. If you do not qualify for a loan modifications under the Making Home Affordable program, the lender will explore other options such as a private modification. Generally, you will need to: Explain the financial hardship that makes it difficult for you to pay your mortgage loan using the Hardship Affidavit Submit the required documents required from your lender 1
Either our office or your lender will contact you to let you know if you qualify for a loan modification and what type of financing. There are also other alternatives to saving you r home, Short Sale, Deed-in-Lieu Programs. We would be happy to discuss, please ask us: WHAT YOU NEED TO START: If you have decided to go forward with your loan modification, we charge $1,750.00 (non-refundable) fee and here are some items we will need to get started: The Retainer Agreement Signed third party authorization letter Client contact information sheet Most recent 1 st mortgage statement Gross income amount for both parties Financial hardship letter (please five detailed information regarding your hardship) Current last 2 month s paystubs for each party If self-employed, last 2 year s personal taxes along with business tax returns. Must be complete with all schedules. (Signed), If no return filed you must provide copy of the extension or reason for not filing. If self-employed, last quarter (3 month s) Profit & Loss from business. If using other income to qualify, such as child support, alimony or any other source, you must provide amount, continuance, and proof of deposits. Signed and Completed financial packet with a list of all expenses. Copy of property tax bill and homeowners declaration page. Provide proof of HOA/condo fees. If you own more than one property, please include current rental lease and proof of rental income. Last 2 month s bank statements with all pages from all accounts. Most current utility bills. We will then order the modification packet to be completed and sent to either our office or your home address. These are typically some of the documents you will need to start getting together, although keep in mind each lender does have their own requirements for applying for a loan modification. Keep in mind that if you are considering filing for bankruptcy or if you have already filed, we will be able to file the proper motions with the courts and go straight to mediation. Please do not hesitate to contact us or have your bankruptcy attorney do so. We look forward to working with you!! 2
LAW OFFICE OF ROBERT B. BRANSON, P.A. 1501 E. CONCORD STREET ORLANDO, FLORIDA 32803 Robert B. Branson John F. Raffaelli INFORMATION SHEET Name: Date: Mailing Address: Physical Address: (If Different) Home Phone: Cell: Cell: Email: Do you have objections to us calling you at work? Do you have objections to us calling you at home? If we cannot reach you, can we leave a message with someone else to try another number? Date of Birth: How did you hear about us? (Circle one) Phone Book Past Experience Radio Internet Letter Newspaper Company Legal Plan: Referral Other: If you were referred by someone, who was it: What kind of case are you here to discuss? Bankruptcy Criminal Other: n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n n By signing below, I am attesting that the above is true and correct to the best of my information, knowledge and belief and if I retain THE LAW OFFICE OF ROBERT B. BRANSON, P.A., I will upon any changes to the above notify this office in writing immediately of such changes. I further understand that all information contained within is personal and confidential. 3
Robert B. Branson LAW OFFICE OF ROBERT B. BRANSON, P.A. 1501 E. CONCORD STREET ORLANDO, FL 32803 INFORMATION SHEET John F. Raffaelli Name: Date: Mailing Address: Physical Address: (if different) Home Number: Work: Cell: Email: Do you have objections to us calling you at work? Do you have objections to us calling you at home? If we cannot reach you, can we leave a message with someone else or try another number? Date of Birth: How did you hear about us? (circle one) Phone book Past experience Radio Internet Letter Newspaper Company Legal Plan Referral Other: If you were referred by someone, who was that: What kind of case are you here to discuss? (circle one) Bankruptcy Criminal Family Law(Divorce/Child Support/Child custody) Other: If a divorce, do you have any minor children? By signing below, I am attesting that the above is true and correct to the best of my information, knowledge and belief and if I retain THE LAW OFFICE OF ROBERT B. BRANSON, P.A., I will upon any changes to the above notify this office in writing immediately of such changes. I further understand that all information contained within is personal and confidential. 4
Signature AGREEMENT FOR LEGAL SERVICES THIS AGREEMENT, made this day of, 2011 at 1501 E. Concord Street, Orlando, Florida 32803 by and between the Law Office of Robert B. Branson, with Attorney, hereinafter referred to Attorney and hereinafter referred to as Client as follows: 1. PURPOSE: The client engages the Attorney who will represent the Client to represent the Client more particularly described as described as follows: A. _ Loan Modification - B. C. D. 2. AUTHORITY: I direct you to perform and direct all acts on my behalf which are appropriate to this representation. This agreement covers loan modification negotiation proceedings through investigation and settlement agreements. This agreement does not include; litigation or representation in State Court, appeals or appellate services. 3. ATTORNEY S FEE I agree to pay a non-refundable engagement fee of $1,750.00 up on the signing of this contract. In certain circumstances the attorney may approve a non-refundable down payment of $ with the balance paid weekly/monthly. I understand that I will be billed monthly and will be expected to pay weekly/monthly the outstanding balance and any other fees, if incurred. Failure to make such payments within ten days of the billing shall constitute a default of this contract. Upon default, all outstanding fees shall become immediately due. Full payment must be received before final loan modification proceedings. If your case turns into a Bankruptcy case than a new retainer for the Bankruptcy case will be signed. 4. COSTS: You are hereby authorized to pay or incur liability for expenses on my behalf which includes but are not limited to; photocopies, travel expenses, court reporter fees, and transcripts, service of subpoenas, expert testimony, court costs and any other costs related to your representation of me. I will be billed and will pay for costs as they are incurred. I understand that all costs are due immediately when billed. All content of the file developed in this case is the property of our office and shall not be released unless costs are paid in full. This law firm may not advance costs at its digression. 5
5. APPOINTMENTS: I agree to cancel all scheduled appointments at least 24 hours in advance. Failure to do so shall result in a fifty ($50.00) dollar charge for all missed appointments not canceled 24 hours in advance. 6. ABILITY TO WITHDRAW FROM AGREEMENT: I further agree that you shall have the right to withdraw from my case; if I do not make payments required by this agreement; if I have misrepresented or failed to disclose material facts to you; or if I fail to follow your advice. In any of these events, I agree that I will execute such documents as will permit you to withdraw. I further agree to inform your office immediately of any changes in my address/residency and/or telephone number I may have during your representation of me in writing. 7. NO GUARANTEES OF SUCCESSFUL OUTCOME OR TOTAL FEE: It has been explained to me and I fully understand, that an attorney cannot guarantee a particular outcome in any matter of legal representation and/or litigation. My attorney has advised me of my options, the risks of those options and the consequences of those options. My attorney has undertaken to represent me in this matter diligently and zealously and to utilize their best efforts and exercise their best judgment in a effort to achieve a result beneficial to my best interest; and that the fee agreement set forth above is in compensation for their efforts so performed and not for any particular result. 8. ENTIRE AGREEMENT SEVERABILITY & MODIFICATIONS: This engagement agreement contains the entire understanding of the parties and may not be varied or modified unless in writing and said writing is signed by the client and the law firm. If any provision of this agreement is judicially declared to be invalid or enforceable, then the remaining provisions hereof will remain in fill force and effect. Florida law governs this agreement. READ, APPROVED, AND ACCEPTED This engagement agreement in invalid until signed by both parties and initial fees are paid. By signing below, all parties agree to all of the terms and conditions set forth herein and acknowledge that they have read and understand this agreement. I HAVE READ THE ABOVE CONDITIONS AND AGREE TO ALL OF THE TERMS THEREIN. Dated Client (Print Name) Client s Signature Client s Signature Dated Attorney Home Number: Cell Number: Home Number: Cell Number: 6
LAW OFFICE OF ROBERT B. BRANSON, P.A. 1501 E. CONCORD STREET ORLANDO, FLORIDA 32803 TELEPHONE: (407) 894-6834 TELEFACSIMILE: (407) 894-8559 Authorization Letter I, and, hereby authorize the Law Office of Robert B. Branson and his staff to discuss my mortgage loan/modification. My loan number is: Borrowers Signature: Date: Social Security #: Co-Borrowers Signature: Date: Social Security #: Staff Members: Tammy Branson Lisa McCleary Paige Branson Attorney Signature: Date: Print: Property Address: 7
Clients Names: & Property Address: Cell Phone: Spouse Cell : Work #: Spouse Work: Home Phone #: Spouse Home: E-mail Address: Spouses E-mail: Servicer Name: Phone #: Contact: Fax Number: Loan Number: Bk Case #:... Client s Social Security #: Spouses Social Security #: 8
Client(s): Monthly Expenses Mortgage Payment: $ Property Taxes (if not included): Hazard Insurance (if not included): Homeowner s Association Fees: Electric: Water: Telephone/Cell: Cable/Internet: Food: Credit Cards: Auto Insurance: Gas/Transportation: Auto/Installment Loans: Medical/Dental: (Insurance) Medical/Dental: ( Expenses) Home Maintenance: Clothing/Dry cleaning: Other: 9
If you plan on doing a Loan Modification this applies to you! Loan Modification Checklist Client: Document Formally N/A Attached Submitted 1. RMA Request for Modification (do HAMP plus Lender Specific-go online) 2. Client Authorization Form 3. IRS form 4506-T (joint all parties sign) 4. Last two years Tax returns (signed) 5. Two months of current pay stubs 6. Most recent quarter P&L (If self emp.) Signed and dated 7. Hardship letter (signed and dated) 8. Schedule of Real Estate owned (if more than 1 property owned) 9. Recent real estate tax bill 10. Proof of homeowner s Insurance 11. Personal budget ( match Schedule J) 13. Most recent statement on all mortgages 14. 2 months bank statements personal (4 months business) (all accounts and all pages if some are blank, if it says 1 of 4, you have to have 4 pages) 15. HOA Dues (ltr. or coupon book) 16. Current Utility Bill Complete package and make an appt to review with modification specialist 10
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LAW OFFICE OF ROBERT B. BRANSON 1501 E. CONCORD STREET ORLANDO, FL 32803 TELEPHONE: (407) 894-6834 TELEFACSIMILE: (407) 894-8859 Robert B. Branson John F. Raffaelli Dear Client, Sometimes a financial hardship can make paying your mortgage payments difficult. As your attorney, I am committed to helping you face your financial difficulties by finding solutions. My staff has been successful in helping people resolve their mortgage delinquency and avoid foreclosure. There are several mortgage options designed to allow you to stay in your home by lowering your monthly mortgage payment. Home Affordable Modification Program (HAMP) which is part of the Homeowner Affordability and Stability Plan (HASP) announced on February 10, 2009 by President Obama. HAMP is aimed at helping at-risk homeowners-both who are in default and those who are at imminent risk of default by reducing monthly payments to sustainable levels. Some have applied for modifications but do not specifically request the government program. It s there to help. You may qualify for HAMP a way to make your payment more affordable if the following criteria s are met: The mortgage loan originated on or before January 1, 2009 The mortgage loan has not been previously modified under the program. The mortgage loan is delinquent or is reasonably foreseeable; loans currently in foreclosure are eligible. The mortgage loan is secured by a one to four unit property, one of which is your principal residence. The property securing the mortgage loan must not be vacant or condemned. You have a monthly mortgage payment ratio greater than 31 percent. The current unpaid principal balance (UPB) of the mortgage loan prior to capitalization must be no greater than o 1 Unit: $729,750 o 2 Units: $934,200 o 3 Units: $1,129.250 o 4 Units: $1,403,400 The investor who holds the mortgage loan allows loan modifications under HAMP If you need the above criteria, it will be necessary for you to update your financial information and to provide documentation that will support financial hardship. We will forward the documentation to your lender to see if you qualify at the lower amount. If so, you will be places on a 3 month trial period. It is very crucial that you make all your payments on time as the (HAMP) is only offered one time. If you do not qualify for a loan modifications under the Making Home Affordable program, the lender will explore other options such as a private modification. Generally, you will need to: Explain the financial hardship that makes it difficult for you to pay your mortgage loan using the Hardship Affidavit Submit the required documents required from your lender 1
Either our office or your lender will contact you to let you know if you qualify for a loan modification and what type of financing. There are also other alternatives to saving you r home, Short Sale, Deed-in-Lieu Programs. We would be happy to discuss, please ask us: WHAT YOU NEED TO START: If you have decided to go forward with your loan modification, we charge $1,750.00 (non-refundable) fee and here are some items we will need to get started: The Retainer Agreement Signed third party authorization letter Client contact information sheet Most recent 1 st mortgage statement Gross income amount for both parties Financial hardship letter (please five detailed information regarding your hardship) Current last 2 month s paystubs for each party If self-employed, last 2 year s personal taxes along with business tax returns. Must be complete with all schedules. (Signed), If no return filed you must provide copy of the extension or reason for not filing. If self-employed, last quarter (3 month s) Profit & Loss from business. If using other income to qualify, such as child support, alimony or any other source, you must provide amount, continuance, and proof of deposits. Signed and Completed financial packet with a list of all expenses. Copy of property tax bill and homeowners declaration page. Provide proof of HOA/condo fees. If you own more than one property, please include current rental lease and proof of rental income. Last 2 month s bank statements with all pages from all accounts. Most current utility bills. We will then order the modification packet to be completed and sent to either our office or your home address. These are typically some of the documents you will need to start getting together, although keep in mind each lender does have their own requirements for applying for a loan modification. Keep in mind that if you are considering filing for bankruptcy or if you have already filed, we will be able to file the proper motions with the courts and go straight to mediation. Please do not hesitate to contact us or have your bankruptcy attorney do so. We look forward to working with you!! 2
Robert B. Branson LAW OFFICE OF ROBERT B. BRANSON, P.A. 1501 E. CONCORD STREET ORLANDO, FL 32803 INFORMATION SHEET John F. Raffaelli Name: Date: Mailing Address: Physical Address: (if different) Home Number: Work: Cell: Email: Do you have objections to us calling you at work? Do you have objections to us calling you at home? If we cannot reach you, can we leave a message with someone else or try another number? Date of Birth: How did you hear about us? (circle one) Phone book Past experience Radio Internet Letter Newspaper Company Legal Plan Referral Other: If you were referred by someone, who was that: What kind of case are you here to discuss? (circle one) Bankruptcy Criminal Family Law(Divorce/Child Support/Child custody) Other: If a divorce, do you have any minor children? By signing below, I am attesting that the above is true and correct to the best of my information, knowledge and belief and if I retain THE LAW OFFICE OF ROBERT B. BRANSON, P.A., I will upon any changes to the above notify this office in writing immediately of such changes. I further understand that all information contained within is personal and confidential. 4
LAW OFFICE OF ROBERT B. BRANSON, P.A. 1501 E. CONCORD STREET ORLANDO, FLORIDA 32803 TELEPHONE: (407) 894-6834 TELEFACSIMILE: (407) 894-8559 Authorization Letter I, and, hereby authorize the Law Office of Robert B. Branson and his staff to discuss my mortgage loan/modification. My loan number is: Borrowers Signature: Date: Social Security #: Co-Borrowers Signature: Date: Social Security #: Staff Members: Tammy Branson Lisa McCleary Paige Branson Attorney Signature: Date: Print: Property Address: 7
Clients Names: & Property Address: Cell Phone: Spouse Cell : Work #: Spouse Work: Home Phone #: Spouse Home: E-mail Address: Spouses E-mail: Servicer Name: Phone #: Contact: Fax Number: Loan Number: Bk Case #:... Client s Social Security #: Spouses Social Security #: 8
Client(s): Monthly Expenses Mortgage Payment: $ Property Taxes (if not included): Hazard Insurance (if not included): Homeowner s Association Fees: Electric: Water: Telephone/Cell: Cable/Internet: Food: Credit Cards: Auto Insurance: Gas/Transportation: Auto/Installment Loans: Medical/Dental: (Insurance) Medical/Dental: ( Expenses) Home Maintenance: Clothing/Dry cleaning: Other: 9
If you plan on doing a Loan Modification this applies to you! Loan Modification Checklist Client: Document Formally N/A Attached Submitted 1. RMA Request for Modification (do HAMP plus Lender Specific-go online) 2. Client Authorization Form 3. IRS form 4506-T (joint all parties sign) 4. Last two years Tax returns (signed) 5. Two months of current pay stubs 6. Most recent quarter P&L (If self emp.) Signed and dated 7. Hardship letter (signed and dated) 8. Schedule of Real Estate owned (if more than 1 property owned) 9. Recent real estate tax bill 10. Proof of homeowner s Insurance 11. Personal budget ( match Schedule J) 13. Most recent statement on all mortgages 14. 2 months bank statements personal (4 months business) (all accounts and all pages if some are blank, if it says 1 of 4, you have to have 4 pages) 15. HOA Dues (ltr. or coupon book) 16. Current Utility Bill Complete package and make an appt to review with modification specialist 10
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