SOLID - Stop Foreclosure

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SOLIDISHERE TO HELPShort Sale GuideSunTrust Mortgage, Inc. (STM) is dedicated to carefulcounseling and responsible lending, and we viewforeclosure as the last resort for customers experiencingfinancial difficulty. Foreclosures hurt everyone involved— homeowners, lenders, communities, and the economyas a whole. Our goal is to help our clients be successfulhomeowners through responsible lending. One of theoptions available for assistance may include the Short Sale.from the mortgagor (continued): last two (2) years tax returns two (2) most recent bank statements (within 30 days) third party authorization form (to speak with realestate agent, attorney or other 3rd party) current year-to-date profit and loss statement(if self-employed) two (2) most recent pay stubs (within 30 days)What is a Short Sale?A Short Sale is a workout option that allows thehomeowner (mortgagor) to sell the home for less than thetotal amount owed on the mortgage. Upon final approval,a Short Sale can help mortgagors avoid foreclosure action.The real estate agent faxes the complete Short SalePackage to 804.675.7399, Attn: Setup.How to get started(Short Sale package requirements)Typically, the real estate agent takes charge of gatheringall required documentation. This package must include:from the real estate agent: Arm’s Length Transaction document HUD-1 fully-executed listing agreement fully-executed purchase contractfrom the mortgagor: Signed and dated financial worksheet listing allmonthly expenses Signed and dated hardship letter (an explanation ofwhy the homeowner is unable to pay the mortgage) Letter authorizing the real estate agent access toinformation on the account (must be dated andinclude the last 4 digits of the mortgagor’s SocialSecurity Number and signature, the full accountnumber and the complete property address)Short Sale approval process1. Once all documentation is received (please refer to“Short Sale package” requirements), the short saleteam completes a property valuation (appraisal orBPO per investor requirements).2. The Short Sale file is then assigned to a negotiator onthe Short Sale team who will review the file includingthe documentation and the offer.3. If there is any missing documentation or request formore information, the Short Sale negotiator willcontact the designated third party or the mortgagor.4. Once all of the required documentation andinformation is received and in order (refer to “ShortSale package” requirements), the Short Sale negotiatorrecommends approval to the investor and/or insurer. Ifthe Short Sale offer is acceptable, the negotiatordrafts and sends an approval letter to the borrower(s)and/or the designated third party. The Short Salenegotiator then works closely with the real estateagent, title company and the mortgagor to establish afinal settlement date. The Short Sale approval is goodfor up to 45 days.(Continued on back)

Additional Information If the Short Sale fails to close, the entire Short Salepackage may need to be resubmitted with updatedinformation, or the approval process may need tostart over. The real state agent or STM mortgagor-designatedthird party should direct their inquiries to1.800.443.1032, Option 3, Monday through Friday from8:00 a.m. to 10:00 p.m. The Loss Mitigation Teamwill answer their questions regarding the status of theaccount. The call will be forwarded to the Short Salenegotiator as appropriate. Real estate agents are generally allowed 5% to 6%commission based on investor rules. If dual agencyapplies, maximum commission is 5%. Some investorsoperate on a reduced commission structure and theactual commission schedule can be confirmed duringthe introduction call. The Short Sale must be an “arm’s-length” transaction.The property may not be sold to anyone the seller hasa close personal or business relationship with,including family, friends or neighbors. During the discussion with the short sale negotiator,the following will be addressed:- Commissions- Fees and costs- Pricing of the property- Timeline- Borrower Contribution In some cases investors and/or Private MortgageInsurance (PMI) companies require mortgagors tomake a cash contribution or sign an unsecured note forsome or all of the difference between the netproceeds from the sale and the total amount due.This is communicated as part of the response on aShort Sale offer.SunTrust Mortgage makes every attempt to process Short Sales within a time frame that suits sellers and buyers.Because there are often many parties involved in a transaction, and each Short Sale is different, it is difficult toknow exactly how long the process will take. Here is an overview of the basic process: Complete short sale application received.Note: Incomplete application will delay review/approval process. Property Evaluation completed (appraisal or BPO per investor requirement). Short Sale application assigned to Loss Mitigation Negotiator. Short Sale negotiator completes initial review of Short Sale application. Short Sale negotiator completes “Introduction Call” to real estate agent and homeowner.Additional Steps: Mortgage insurer approval (if applicable). Investor approval (if applicable). Additional liens negotiated by real estate agent. A completed net sheet/HUD-1 (our payoff is not necessary). Fully executed purchase contract with all pages initiated by buyer(s) and seller(s). Buyer pre-qualification letter or proof of funds if cash offer.All items above are complete. Short Sale application decision. Short Sale decision letters issued to appropriate parties.Equal Housing Lender. SunTrust Mortgage, Inc., 901 Semmes Avenue, Richmond, VA 23224 is licensed by the Department of Corporations under the California Residential Mortgage Lending Act; is an IllinoisResidential Mortgage Licensee; is a Lender in Massachusetts having Mortgage Lender license #s ML1216, ML0133, ML1432, ML1914, ML1913, ML1815, ML2411, ML1214, ML2442, ML2491, and ML2538; is licensed bythe New Hampshire Banking Department; is licensed by the New Jersey Department of Banking and Insurance, toll free 1-800-330-4684; is a licensed lender in Rhode Island; and is doing business in Arizona as CrestarMortgage, 7250 N. 16th Street, Ste. 100, Phoenix, AZ 85020. 2009 SunTrust Banks, Inc. SunTrust, SunTrust Mortgage and Live Solid. Bank Solid. are federally registered service marks of SunTrust Banks, Inc.REV 101409

Financial InformationLoan Number:Borrowers: List all persons whose names appear on your mortgage or noteNameMailing AddressSocial Security #1.--2.--Do you collect rent for any part of this house? Yes NoIf yes, how much rent per month do you collect?Telephone #DayEveningDayEveningProperty AddressPerson(s) whose income(s) will be used to meet family obligationsNamePresent Employer(s)/Address of Employer(s)Telephone #(s)Date EmployedType of WorkIncome (note weekly, bi-weekly,or monthly)GrossNet1.2.Previous EmployerAddress of EmployerTelephone #NameDate From/To/Present Employer(s)/Address of Employer(s)Telephone #(s)Date EmployedType of WorkIncome (note weekly, bi-weekly,or monthly)GrossNet1.2.Previous EmployerAddress of EmployerTelephone #Date From/To/List all other income which is available to meet mortgage payments and other expenses. Identify sources of income(i.e. VA benefits, rent, social security, disability, alimony, welfare, child support, other benefits.etc.Person Receiving IncomeType of IncomeName and Address ofSource of IncomeMonthly IncomeName, relationship and age(s) of dependents living with youName and relationship of other persons you support(former spouse, children.etc.)Is the property listed for sale? Yes No If no, are you interested in selling the property? Yes NoIf yes, what is the list price? How long listed at this price?Original list price and datePrice reduction(s) and date(s)How long has the property been listed?What is the Realtor’s Name & #?Do you have a second mortgage? Yes NoMortgage HolderAddress & Phone #Principal Balance of 2ndPayment Amount Due Date of 2ndAre there other liens or judgments against the property? Yes NoMortgage HolderIf yes, who holds the lien?What is the amount of the lien?Are you living at the property? Yes No

Financial Information (continued)Loan Number:Do you expect future income (i.e. Insurance, disability claims, lawsuits, alimony, child support, rent.etc.)?Person(s) to receiveadded incomeWhen?From what source?Lump sumMonthly Amount ( )Checking AccountSavings BondsLife Insurance (Cash Value)Purchase PriceMonthly PaymentsMonthly IncomeAssetsHow much money do you have in the following:Savings AccountCash or Money OrdersList any real estate you own, besides your homeDescription of PropertyDescribe any emergency repairs necessary on your home (i.e. heat, plumbing, electrical, roof.etc.)List the amount of each special deduction taken from your gross:Federal Income TaxState/Local Income TaxFICA and RetirementHealth InsuranceLife InsuranceUnion DuesSavings (bank, credit union.etc.)Other (specify)List below the amount you spend monthly for the following:Electricity/gas/oilWater, SewageHome MaintenanceTelephoneFood (include food stamps)ClothingOther HouseholdTransportation ExpensesAuto InsuranceMedical/DentalLife InsuranceTuition & BooksAlimony & Child SupportChild CareOther (specify)List all your debts below. Include medical bills, charge accounts, payments due on cars and appliances,second mortgages and liens against your property.To WhomOwedAccountNumberDateOpenedFor WhatPurposePresentBalanceMonthlyPaymentDate of1st Payment# of PaymentsPast DueExplain, in your own words, why you got behind in your mortgage payments. How do you plan to catch up on your payment?CertificationI, (We,) certify the information I (we) have given is true and complete to the best of my (our) knowledge and belief.SignatureDateSignatureDate

SELLER’S AGENTAffidavit of “Arm’s Length Transaction”State ofCounty ofAll parties relevant to this transaction attest that it is an “Arm’s Length Transaction”, meaning that the transaction hasbeen negotiated by unrelated parties and that the sale price is based on fair market value of the property. Buyer andSeller are acting in his /her own self-interest. Those signing this affidavit as agents for Buyer, Seller or both are acting inthe best interests of their respective principal.(hereinafter referred to as “Seller’s Agent” and/or “Affiant”), being dulysworn, deposes and says, that s/he is representing(hereinafter referred to as “Seller(s)” even if more than one) as his/her agent to the sale of the property identified as[street address]from (hereinafter referred to as “Buyer(s)”) in ashort sale transaction;Affiant further says that no party to the sales contract, including Buyer, Seller’s Agent or Buyer’s Agent, is a relative of,business associate of, or shares any business interest with, Seller;Affiant further says that there are no hidden agreements, implied terms or special understandings between Seller, Buyer,Seller’s Agent or Buyer’s Agent which have not been made part of the written sales contract and which have not beendisclosed to all interested parties for the current sale or subsequent sale of the above mentioned property;Affiant further says that there are no agreements or understandings, oral, written or implied, that will permit Seller toremain in the above mentioned property as renter or to regain ownership of said property at any time after the executionof this short sale transaction except to the extent that the Seller is permitted to remain as a tenant on the said property fora short term as is common and customary in the market but no longer than ninety (90) days, in order to facilitaterelocation;Affiant further says that beyond any contractual sales commissions owed to the Seller’s Agent and/or Buyer’s Agent asreflected on the final estimated closing statement, no other parties (Buyer or Seller) to this short sale transaction willreceive any proceeds from the sale of the above mentioned property;Affiant further says that it is agreed and understood that the Lender Servicer and investor are relying upon the statementsmade in this affidavit as consideration for the reduction of the mortgage payoff amount which is secured by a deed of trustor mortgage encumbering the above mentioned property;Affiant further says that the Lender Servicer and investor are indemnified for any and all loss resulting from any negligentor intentional misrepresentation made in the affidavit, including, but not limited to, repayment of the amount of the reducedpayoff of the above mentioned property;Affiant further says that it is understood that any misrepresentation may subject the responsible party to civil and/orcriminal liability.The certification will survive the closing of the transaction.The undersigned declares under penalty of perjury that all statements made in this affidavit are true and correct.//Signature of Affiant / DateSignature of Affiant / DatePrinted Name of AffiantPrinted Name of Affiant/Signature of Affiant / DateSignature of Affiant / DatePrinted Name of AffiantPrinted Name of AffiantSTATE OFCOUNTY OFSubscribed and sworn to before me the day of , 20Signature of Notary Public Printed Name of Notary PublicCounty of Residence Date Commission Expires

SELLERAffidavit of “Arm’s Length Transaction”State ofCounty ofAll parties relevant to this transaction attest that it is an “Arm’s Length Transaction”, meaning that the transaction hasbeen negotiated by unrelated parties and that the sale price is based on fair market value of the property. Buyer andSeller are acting in his /her own self-interest. Those signing this affidavit as agents for Buyer, Seller or both are acting inthe best interests of their respective principal.[Seller(s)] (hereinafter referred to as “Seller(s)”and/or “Affiant(s)”even if more than one), being duly sworn, deposes and says, that s/he is the party selling theproperty identified as[street address] to [Buyer(s)] (hereinafter referred to as“Buyer(s) even if more than one”) in a short sale transaction;Affiant further says that no party to the sales contract, including Buyer, Seller’s Agent or Buyer’s Agent, is a relative of,business associate of, or shares any business interest with, Seller;Affiant further says that there are no hidden agreements, implied terms or special understandings between Seller, Buyer,Seller’s Agent or Buyer’s Agent which have not been made part of the written sales contract and which have not beendisclosed to all interested parties for the current sale or subsequent sale of the above mentioned property;Affiant further says that there are no agreements or understandings, oral, written or implied, that will permit Seller toremain in the above mentioned property as renter or to regain ownership of said property at any time after the executionof this short sale transaction except to the extent that the Seller is permitted to remain as a tenant on the said property fora short term as is common and customary in the market but no longer than ninety (90) days, in order to facilitaterelocation;Affiant further says that beyond any contractual sales commissions owed to the Seller’s Agent and/or Buyer’s Agent asreflected on the final estimated closing statement, no other parties (Buyer or Seller) to this short sale transaction willreceive any proceeds from the sale of the above mentioned property;Affiant further says that it is agreed and understood that the Lender Servicer and investor are relying upon the statementsmade in this affidavit as consideration for the reduction of the mortgage payoff amount which is secured by a deed of trustor mortgage encumbering the above mentioned property;Affiant further says that the Lender Servicer and investor are indemnified for any and all loss resulting from any negligentor intentional misrepresentation made in the affidavit, including, but not limited to, repayment of the amount of the reducedpayoff of the above mentioned property;Affiant further says that it is understood that any misrepresentation may subject the responsible party to civil and/orcriminal liability.The certification will survive the closing of the transaction.The undersigned declares under penalty of perjury that all statements made in this affidavit are true and correct.//Signature of Affiant / DateSignature of Affiant / DatePrinted Name of AffiantPrinted Name of Affiant/Signature of Affiant / DateSignature of Affiant / DatePrinted Name of AffiantPrinted Name of AffiantSTATE OFCOUNTY OFSubscribed and sworn to before me the day of , 20Signature of Notary Public Printed Name of Notary PublicCounty of Residence Date Commission Expires

BUYERAffidavit of “Arm’s Length Transaction”State ofCounty ofAll parties relevant to this transaction attest that it is an “Arm’s Length Transaction”, meaning that the transaction hasbeen negotiated by unrelated parties and that the sale price is based on fair market value of the property. Buyer andSeller are acting in his /her own self-interest. Those signing this affidavit as agents for Buyer, Seller or both are acting inthe best interests of their respective principal.[Buyer(s)] (hereinafter referred to as “Buyer(s)”and/or “Affiant(s)” even if more than one), being duly sworn, deposes and says, that s/he is the party buying theproperty identified as[street address] from [Seller(s)] (hereinafter referred to as“Seller(s)” even if more than one) in a short sale transaction;Affiant further says that no party to the sales contract, including Buyer, Seller’s Agent or Buyer’s Agent, is a relative of,business associate of, or shares any business interest with, Seller;Affiant further says that there are no hidden agreements, implied terms or special understandings between Seller, Buyer,Seller’s Agent or Buyer’s Agent which have not been made part of the written sales contract and which have not beendisclosed to all interested parties for the current sale or subsequent sale of the above mentioned property;Affiant further says that there are no agreements or understandings, oral, written or implied, that will permit Seller toremain in the above mentioned property as renter or to regain ownership of said property at any time after the executionof this short sale transaction except to the extent that the Seller is permitted to remain as a tenant on the said property fora short term as is common and customary in the market but no longer than ninety (90) days, in order to facilitaterelocation;Affiant further says that beyond any contractual sales commissions owed to the Seller’s Agent and/or Buyer’s Agent asreflected on the final estimated closing statement, no other parties (Buyer or Seller) to this short sale transaction willreceive any proceeds from the sale of the above mentioned property;Affiant further says that it is agreed and understood that the Lender Servicer and investor are relying upon the statementsmade in this affidavit as consideration for the reduction of the mortgage payoff amount which is secured by a deed of trustor mortgage encumbering the above mentioned property;Affiant further says that the Lender Servicer and investor are indemnified for any and all loss resulting from any negligentor intentional misrepresentation made in the affidavit, including, but not limited to, repayment of the amount of the reducedpayoff of the above mentioned property;Affiant further says that it is understood that any misrepresentation may subject the responsible party to civil and/orcriminal liability.The certification will survive the closing of the transaction.The undersigned declares under penalty of perjury that all statements made in this affidavit are true and correct.//Signature of Affiant / DateSignature of Affiant / DatePrinted Name of AffiantPrinted Name of Affiant/Signature of Affiant / DateSignature of Affiant / DatePrinted Name of AffiantPrinted Name of AffiantSTATE OFCOUNTY OFSubscribed and sworn to before me the day of , 20Signature of Notary Public Printed Name of Notary PublicCounty of Residence Date Commission Expires

SETTLEMENT AGENTAffidavit of “Arm’s Length Transaction”State ofCounty ofAll parties relevant to this transaction attest that it is an “Arm’s Length Transaction”, meaning that the transaction hasbeen negotiated by unrelated parties and that the sale price is based on fair market value of the property. Buyer andSeller are acting in his /her own self-interest. Those signing this affidavit as agents for Buyer, Seller or both are acting inthe best interests of their respective principal.(hereinafter referred to as “Settlement Agent” and/or “Affiant”), being dulysworn, deposes and says, that s/he is facilitating the closing and legal transfer of title and ownership from the Seller(s) ofthe property identified as [street address] tothe Buyer(s) in a short sale transaction;Affiant further says that no party to the sales contract, including Buyer, Seller’s Agent or Buyer’s Agent, is a relative of,business associate of, or shares any business interest with, Seller;Affiant further says that there are no hidden agreements, implied terms or special understandings between Seller, Buyer,Seller’s Agent or Buyer’s Agent which have not been made part of the written sales contract and which have not beendisclosed to all interested parties for the current sale or subsequent sale of the above mentioned property;Affiant further says that there are no agreements or understandings, oral, written or implied, that will permit Seller toremain in the above mentioned property as renter or to regain ownership of said property at any time after the executionof this short sale transaction except to the extent that the Seller is permitted to remain as a tenant on the said property fora short term as is common and customary in the market but no longer than ninety (90) days, in order to facilitaterelocation;Affiant further says that beyond any contractual sales commissions owed to the Seller’s Agent and/or Buyer’s Agent asreflected on the final estimated closing statement, no other parties (Buyer or Seller) to this short sale transaction willreceive any proceeds from the sale of the above mentioned property;Affiant further says that it is agreed and understood that the Lender Servicer and investor are relying upon the statementsmade in this affidavit as consideration for the reduction of the mortgage payoff amount which is secured by a deed of trustor mortgage encumbering the above mentioned property;Affiant further says that the Lender Servicer and investor are indemnified for any and all loss resulting from any negligentor intentional misrepresentation made in the affidavit, including, but not limited to, repayment of the amount of the reducedpayoff of the above mentioned property;Affiant further says that it is understood that any misrepresentation may subject the responsible party to civil and/orcriminal liability.The certification will survive the closing of the transaction.The undersigned declares under penalty of perjury that all statements made in this affidavit are true and correct.//Signature of Affiant / DateSignature of Affiant / DatePrinted Name of AffiantPrinted Name of AffiantSignature of Affiant / DateSignature of Affiant / DatePrinted Name of AffiantPrinted Name of Affiant/STATE OFCOUNTY OFSubscribed and sworn to before me the day of , 20Signature of Notary Public Printed Name of Notary PublicCounty of Residence Date Commission Expires

BUYER’S AGENTAffidavit of “Arm’s Length Transaction”State ofCounty ofAll parties relevant to this transaction attest that it is an “Arm’s Length Transaction”, meaning that the transaction hasbeen negotiated by unrelated parties and that the sale price is based on fair market value of the property. Buyer andSeller are acting in his /her own self-interest. Those signing this affidavit as agents for Buyer, Seller or both are acting inthe best interests of their respective principal.(hereinafter referred to as “Buyer’s Agent” and/or “Affiant”), being duly sworn,deposes and says, that s/he is representing(hereinafter referred to as “Buyer(s)” even if more than one) as his/her agent to the sale of the property identified as[street address]from (hereinafter referred to as “Seller(s)”) in ashort sale transaction;Affiant further says that no party to the sales contract, including Buyer, Seller’s Agent or Buyer’s Agent, is a relative of,business associate of, or shares any business interest with, Seller;Affiant further says that there are no hidden agreements, implied terms or special understandings between Seller, Buyer,Seller’s Agent or Buyer’s Agent which have not been made part of the written sales contract and which have not beendisclosed to all interested parties for the current sale or subsequent sale of the above mentioned property;Affiant further says that there are no agreements or understandings, oral, written or implied, that will permit Seller toremain in the above mentioned property as renter or to regain ownership of said property at any time after the executionof this short sale transaction except to the extent that the Seller is permitted to remain as a tenant on the said property fora short term as is common and customary in the market but no longer than ninety (90) days, in order to facilitaterelocation;Affiant further says that beyond any contractual sales commissions owed to the Seller’s Agent and/or Buyer’s Agent asreflected on the final estimated closing statement, no other parties (Buyer or Seller) to this short sale transaction willreceive any proceeds from the sale of the above mentioned property;Affiant further says that it is agreed and understood that the Lender Servicer and investor are relying upon the statementsmade in this affidavit as consideration for the reduction of the mortgage payoff amount which is secured by a deed of trustor mortgage encumbering the above mentioned property;Affiant further says that the Lender Servicer and investor are indemnified for any and all loss resulting from any negligentor intentional misrepresentation made in the affidavit, including, but not limited to, repayment of the amount of the reducedpayoff of the above mentioned property;Affiant further says that it is understood that any misrepresentation may subject the responsible party to civil and/orcriminal liability.The certification will survive the closing of the transaction.The undersigned declares under penalty of perjury that all statements made in this affidavit are true and correct.//Signature of Affiant / DateSignature of Affiant / DatePrinted Name of AffiantPrinted Name of AffiantSignature of Affiant / DateSignature of Affiant / DatePrinted Name of AffiantPrinted Name of Affiant/STATE OFCOUNTY OFSubscribed and sworn to before me the day of , 20Signature of Notary Public Printed Name of Notary PublicCounty of Residence Date Commission Expires

Form4506-TRequest for Transcript of Tax ReturnOMB No. 1545-1872(Rev. January 2010)Department of the TreasuryInternal Revenue Service Requestmay be rejected if the form is incomplete or illegible.Tip. Use Form 4506-T to order a transcript or other return information free of charge. See the product list below. You can also call 1-800-829-1040 toorder a transcript. If you need a copy of your return, use Form 4506, Request for Copy of Tax Return. There is a fee to get a copy of your return.1a Name shown on tax return. If a joint return, enter the name shown first.1b First social security number on tax return oremployer identification number (see instructions)2a If a joint return, enter spouse’s name shown on tax return.2b Second social security number if joint tax return3 Current name, address (including apt., room, or suite no.), city, state, and ZIP code4 Previous address shown on the last return filed if different from line 35 If the transcript or tax information is to be mailed to a third party (such as a mortgage company), enter the third party’s name, address,and telephone number. The IRS has no control over what the third party does with the tax information.Caution. If the transcript is being mailed to a third party, ensure that you have filled in line 6 and line 9 before signing. Sign and date the form once youhave filled in these lines. Completing these steps helps to protect your privacy.6aTranscript requested. Enter the tax form number here (1040, 1065, 1120, etc.) and check the appropriate box below. Enter only one tax formnumber per request. Return Transcript, which includes most of the line items of a tax return as filed with the IRS. A tax return transcript does not reflectchanges made to the account after the return is processed. Transcripts are only available for the following returns: Form 1040 series,Form 1065, Form 1120, Form 1120A, Form 1120H, Form 1120L, and Form 1120S. Return transcripts are available for the current yearand returns processed during the prior 3 processing years. Most requests will be processed within 10 business days . . . . . .bAccount Transcript, which contains information on the financial status of the account, such as pay

Mortgage, 7250 N. 16th Street, Ste. 100, Phoenix, AZ 85020. 2009 SunTrust Banks, Inc. SunTrust, SunTrust Mortgage and Live Solid. Bank Solid. are federally registered service marks of SunTrust Banks, Inc. REV 101409 Complete short sale application received. Note: Incomplete application will delay review/approval process.

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