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COOP Short Sale Acknowledgement of Interest Letter
Dear JXX
I am following up on our conversation on 1/28/2011. I have enclosed the agreement that we discussed,which will allow you to enroll in Bank of America's Cooperative Short Sale Program. Please read through the document carefully and sign and return the document to me at my personal fax number: 888-4XX-34XX. You may also return the document via mail using the enclosed priority mail envelope to:
BAC Home Loans Servicing,LP
Freeway, Suite 1xxx
In order to proceed with your cooperative short sale, please return this form no later than 2/11/2011. I do not want you to miss out on this program, so please return this form to me as soon as possible. If you have any questions, please call me at: 800-23X-45XX x40XX, Monday through Friday,9 AM CST- 5 PM CST. You can also e-mail me at vgfffddsd@utls.com. I am here to help,and look forward to helping you complete your cooperative short sale.
Sincerely,
rwewefsdez
Account Specialist
BAC Home Loans Servicing,LP
BAC Home Loans Servicing, LP is required by law to inform you that this communication is from a debt collector. However, the purpose of this communication is to let you know about your potential eligibility for this program to help you avoid foreclosure.
Mortgages funded and admlnlstered by ao &1 EqualHousing laeder.
Cooperative Short Sale Acknowledgement of Interest
Property Address: AVENUE SEASIDE, CA
Loan Number: XXXX1085
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Important information on a Cooperative Short Sale |
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• If you successfully complete a cooperative short sale, you will sell your home and will be required to vacate the property.
• You are responsible for all maintenance and expenses on the property until it is sold.
• Financ1ai hardshiP_ and inability to afford the payment,s on the property are needed to quaury tor a cooperative snort sale.
• The short sale must be an "arm's length" transaction. An arm's length transaction means that you cannot list the property w1th or sell1t to anyone that you are related to or with whom you have a close personal or business relationship.
• Bank of America will use proceeds from the sale to pay off the balance of your loan, and will work together with your listing agent on your behalf to facilitate the sale process.
• We may begin or continue the foreclosure process while we review your request. We will suspend any foreclosure sale date_ until the expiration date of the signed Acknowledgement of Interest or the date of closing of an approved short sale, whichever is later, as long as you continue to abide by the terms and conditions of the agreement.
• If the cooperative short sale is unsuccessful, Bank of America may offer you the opportunity to participate in a deed-in-lieu of foreclosure program.
• Once your short sale is completed, Bank of America will report to the major credit reporting bureaus that your loan was completed as a sfion sale. |
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Benefits of a successful cooperative sllort sale |
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• If the cooperative short sale is successful, Bank of America will pay you $2500 for moving, relocation, or rental expenses.
• If the cooperative short sale is successful, Bank of America will not pursue the deficiency balance on your loan.
• It the cooperative snort sale is successful, Bank of America will not foreclose on your
home. |
Date Date
Signature Signature
JESSE MUSON
Printed Name Printed Name
Please fax to: 888-67x-56xx
Or return in the pre-paid priority envelope
Bankof America
I Title I Consulting I Technology
Date: 1/28/2011
Loan Number: XXXX1085
Property Address: IA.VENUE SEASIDE, CA
FAIR DEBT COLLECTION PRATICES ACT NOTICE
Pursuant to 15 U.S.C. §1692g, you are given the following notice:
Name of Creditor to whom Debt is Owed: BAC Home Loans Servicing, LP Unless within 30 days after you receive this notice, you dispute the validity of the debt or a portion thereof, the debt will be assumed to be valid. If you notify us in writing within 30 days after you receive this notice that you dispute the debt or a portion thereof, we will obtain and mail to you verification of the debt. If you request in writing within 30 days after you receive this notice, we will provide you with the name and address of the original creditor, if different from the current creditor.
THIS COMMUNICATION IS AN ATTEMPT TO COLLECT A DEBT. ANY INFORMATION OBTAINED WILL BE USED FOR THAT PURPOSE.
UTLS Default Services, LLC
5XX E. John SXX Frwy,Ste
Irving,TX 62 (877) 8xx-1xxx6
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