Read B7_IndyMAC%20FinancialPacket.pdf text version

Is making your mortgage payment becoming difficult?

Submit your updated financial information today.

There may be help available if you are having difficulty making your mortgage loan payments.

If you qualify, we will work with you in an effort to make your mortgage payment affordable. · You will not pay any fees to take advantage of this opportunity to modify your mortgage payment and keep your home. · Now is the time to act!

Here's how our process works:

First, we will determine if you are eligible based on your situation. If you are eligible, we will look at your monthly income and housing costs, including any past due payments, and then determine an affordable mortgage payment. In order for us to review your situation and determine your eligibility, please complete the following steps:

Step 1

Information Worksheet.

Complete all applicable fields provided on this form.

Borrower

Name: Social Security Number: Home Phone Number: ( Work Phone Number: ( Cell Phone Number: ( Email Address: ) ) ) Date of Birth: Best Time to Call: Best Time to Call: Best Time to Call:

Co-Borrower

Name: Social Security Number: Home Phone Number: ( Work Phone Number: ( Cell Phone Number: ( Email Address: Mailing Address: City: Property Address: City: State: ZIP: State: ZIP: ) ) ) Date of Birth: Best Time to Call: Best Time to Call: Best Time to Call:

Step 1

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© IndyMac Mortgage Services a division of OneWest Bank, FSB. Registered trade/service marks are the property of OneWest Bank, FSB and/or its subsidiaries.

Information Worksheet

BorroWer & Co-BorroWer InformatIon

Submit your updated financial information today.

Number of Dependents: Do you occupy the property? Is it a rental property? Is it leased? If you have a lease agreement, please provide a copy. Is the property listed for sale? If yes, please provide a copy of the listing agreement. Agent's Name: Agent's Phone Number: ( Agent's Email Address: Have you contacted a credit-counseling agency for help? If yes, please complete counselor contact information below. Counselor's Name: Counselor's Phone Number: ( Counselor's Email Address: Do you receive, and pay, the Real Estate Tax bill on your home or does your lender pay it for you? If you pay it, please provide a copy of your tax statement. Are the taxes current? Do you pay for a hazard insurance policy? If you pay it, please provide a copy of the policy. Is the policy current? Have you filed for bankruptcy? If yes: Chapter 7 Chapter 13 Filing Date: Yes No Yes Yes No No Yes Yes No No I do Lender Does ) Yes No ) Yes No Yes Yes Yes No No No

Has your bankruptcy been discharged? If yes, please provide a copy of the discharge order signed by the court.

Step 1

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Information Worksheet

I n vo l u n ta ry I n a B I l I t y to Pay

Submit your updated financial information today.

I (We),

, am/are requesting that IndyMac

Mortgage Services review my/our financial situation to determine if I/we qualify for a workout option. I am having difficulty making my monthly payment because of financial difficulties created by: (Please check all that apply) Abandonment of Property Business Failure Casualty Loss Curtailment of Income Death in Family Death of Mortgagor Distant Employment Transfer Excessive Obligations Fraud Illness in Family Illness of Mortgagor I believe that my situation is: Short Term (under 6 months) I want to: Keep the Property Sell the Property Long Term (over 6 months) Permanent Inability to Rent Property Incarceration Marital Difficulties Military Service Payment Adjustment Payment Dispute Property Problems Title Problems Transferring Property Unemployment Other

Please provide a detailed explanation of the hardship on page 16 of this packet. If there are additional Liens/Mortgages or Judgments on this property, please name the person(s), company or firm and their respective telephone numbers. Lien Holder's Name: Balance / Interest Rate: Lien Holder's Name: Balance / Interest Rate: Phone Number: ( ) Phone Number: ( )

Step 1

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Information Worksheet

e m P l oy m e n t a n d m o n t h ly I n C o m e

Submit your updated financial information today.

Employment Borrower Employer's Address: Employer's Phone Number: ( Co-borrower Employer's Address: Employer's Phone Number: ( Monthly Income Borrower Gross Wages / Frequency of Pay: Unemployment Income: Child Support / Alimony:* Disability Income/ SSI: Rents Received: Other: Less: Federal and State Tax, FICA: Less: Other Deductions (401K, etc.): Commissions, bonus and self-employed income: Total (Net income): Co-borrower Gross Wages / Frequency of Pay: Unemployment Income: Child Support / Alimony:* Disability Income/ SSI: Rents Received: Other: Less: Federal and State Tax, FICA: Less: Other Deductions (401K, etc.): Commissions, bonus and self-employed income: Total (Net income): $ $ $ $ $ $ $ $ $ $

0.00

)

How Long:

)

How Long:

$ $ $ $ $ $ $ $ $ $

0.00

/ month

/ month

All income needs to be documented. Paystub must be most recent date with year-to-date information. * Alimony, child support or separate maintenance income need not be revealed if the Borrower or Co-borrower does not choose to have it considered for repaying this loan.

Step 1

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Information Worksheet

m o n t h ly e x P e n S e S a n d a S S e t S

Submit your updated financial information today.

Monthly Expenses Other Mortgages / Liens: Auto Loan(s): Auto Expenses / Insurance: Credit Cards / Installment Loan(s): (total minimum payment for both per month) Health Insurance (not withheld from pay): Medical (Co-pays and Rx): Child Care / Support / Alimony: Food / Spending Money: Water / Sewer / Utilities / Phone: HOA/Condo Fees/Property Maintenance: Life Insurance Payments (not withheld from pay): Total:$ Assets Checking Account(s) Saving / Money Market: Stocks / Bonds / CDs: IRA / Keogh Accounts: 401k / ESPO Accounts: Home: Other Real Estate: Cars: Life Insurance (Whole Life not Term): Other: Total: # # Type Estimated Value $ $ $ $ $ $ $ $ $ $ $

0.00

$ $ $ $ $ $ $ $ $ $ $

$0.00

I agree as follows: IndyMac Mortgage Services may discuss, obtain and share information about my mortgage and personal financial situation with third parties such as purchasers, real estate brokers, insurers, financial institutions, creditors and credit bureaus. Discussions and negotiations of a possible foreclosure alternative will not constitute a waiver of or defense to IndyMac Mortgage Services' right to commence or continue any foreclosure or other collection action, and an alternative to foreclosure will be provided only if an agreement has been approved in writing by my lender. The information herein is an accurate statement of my financial status. I consent to being contacted concerning my Mortgage at any cellular or mobile telephone number I may have. This includes text messages and telephone calls to my cellular or mobile telephone.

I/We agree that I/we have completed the required steps as described above.

Signature Date Co-borrower Signature Date

Step 1

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Income verification

InCome SourCeS

Submit your updated financial information today.

Step 2

Submit documentation of your income.

Complete the Income Verification Worksheet, provide copies of all required financial documents requested in the Income Verification Worksheet, and submit a signed and dated copy of the IRS Form 4506-T (Request for Transcript of Tax Return found on page 13 of this packet).

Please place a checkmark next to each step to acknowledge that you have provided the required documentation based on the income you receive. Initials For each borrower (or other household member living in the home whose income you wish us to consider) who is a salaried or hourly wage earner (you receive a W2 from your employer): Two (2) most recent Pay Stubs (two for each borrower) showing year-to-date income. Length of service with Current Employer: Borrower Year(s): Co-borrower Year(s): Month(s): Month(s):

Most recent Tax Return Completed (signed with all pages) or most recent filed and proof of extension (signed with all pages). Proof of occupancy ­ please include a copy of the most recent utility bill such as a water bill, gas bill, electric bill or phone bill for the subject property. For each borrower (or other household member living in the home whose income you wish us to consider) who is self-employed (Self-employed persons are people who work for themselves and do not receive a W2. Typically self-employed borrowers are those who receive a 1099 for the income they earn): Audited P & L Statement or an audited year-to-date Income Statement signed by a CPA. Most recent two (2) years' Tax Returns Completed (personal and business, signed with all pages) or 1099s or most recent two (2) years filed and proof of extension. Last four (4) months' of complete Business and Personal Bank Statements (must provide all pages. If a business account is not used, provide a written statement stating a business account is not used.) Length of time of Business Ownership: Borrower Year(s): Co-borrower Year(s): Month(s): Month(s):

Initials

Proof of any other Income received (Alimony, Rental, Child Support, Pension, etc.) Proof of occupancy ­ please include a copy of the most recent utility bill such as a water bill, gas bill, electric bill or phone bill for the subject property.

I/We agree that I/we have completed the required steps as described above.

Signature Date Co-borrower Signature Date

Step 2

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Income verification

InCome SourCeS

Submit your updated financial information today.

Initials

For each borrower (or other household member living in the home whose income you wish us to consider) who has income such as social security, disability or death benefits, pension, public assistance, or unemployment: Copy of most recent federal tax return with all schedules and W2 or copies of two most recent bank statements. Copy of benefits statement or letter from the provider that states the amount, frequency and duration of the benefit. Such benefit must continue for at least 3 years to be considered qualifying income under this program. For each borrower (or other household member living in the home whose income you wish us to consider) who is relying on alimony or child support as qualifying income: Copy of divorce decree, separation agreement or other written agreement or decree that states the amount of the alimony or child support and period of time over which it will be received. Payments must continue for at least 3 years to be considered qualifying income under this program. Proof of full, regular and timely payments; for example deposit slips, bank statements, court verification or filed federal tax return with all schedules. For each borrower (or other household member living in the home whose income you wish us to consider) who has rental income: Copies of most recent two years filed federal tax returns with all schedules, including Schedule E-- Supplement Income and Loss. Rental income for qualifying purposes will be 75% of the gross rent.

Initials

Initials

I/We agree that I/we have completed the required steps as described above.

Signature Date Co-borrower Signature Date

Step 2

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Income verification

B o r r oW e r Pay S t u B S

Submit your updated financial information today.

Please tape the borrower's paystubs to this page for fax submission.

tape borrower's 1st paystub here.

(this applies to salaried and hourly wage earners only.)

tape borrower's 2nd paystub here.

(this applies to salaried and hourly wage earners only.)

Step 2

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Income verification

C o - B o r r oW e r Pay S t u B S ( I f a P P l I C a B l e )

Submit your updated financial information today.

Please tape the co-borrower's paystubs to this page for fax submission.

tape co-borrower's 1st paystub here.

(this applies to salaried and hourly wage earners only.)

tape co-borrower's 2nd paystub here.

(this applies to salaried and hourly wage earners only.)

Step 2

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Income verification

W2 formS

Submit your updated financial information today.

Please tape W2 forms to this page for fax submission.

tape borrower W2 form here.

(this applies to salaried and hourly wage earners and borrowers who receive bonus income, commission income, or tips. this also applies to borrower's who receive a W2 from social security, disability, death benefits, pension, public assistance or unemployment income.)

tape co-borrower W2 form here.

(this applies to salaried and hourly wage earners and borrowers who receive bonus income, commission income, or tips. this also applies to borrower's who receive a W2 from social security, disability, death benefits, pension, public assistance or unemployment income.)

Step 2

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Income verification

P r o o f o f o C C u Pa n C y

Submit your updated financial information today.

Please tape proof of occupancy to this page for fax submission.

tape proof of occupancy here.

(most recent copy of utility bill such as a water bill, gas bill, electric bill, or phone bill for the subject property.)

tape proof of occupancy here.

(most recent copy of utility bill such as a water bill, gas bill, electric bill, or phone bill for the subject property.)

Step 2

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Income verification

Proof of aSSetS

Submit your updated financial information today.

Please tape your most recent bank statements, or any other relevant asset documentation to this page for fax submission. (Please print more than one copy of this page for additional documentation of assets.)

tape proof of assets here.

(Copy of most recent bank statement, 401k statement, Ira statement, or any other asset statement.)

Step 2

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Form

4506-T

Request for Transcript of Tax Return

Do not sign this form unless all applicable lines have been completed. Read the instructions on page 2. Request may be rejected if the form is incomplete, illegible, or any required line was blank at the time of signature.

OMB No. 1545-1872

(Rev. January 2008)

Department of the Treasury Internal Revenue Service

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 to order 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 or employer identification number (see instructions) 2b Second social security number if joint tax return

2a If a joint return, enter spouse's name shown on tax return

3

Current name, address (including apt., room, or suite no.), city, state, and ZIP code

4

Previous address shown on the last return filed if different from line 3

5

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.

IndyMac Mortgage Services · IndyMac ­ 4 · 2900 Esperanza Crossing · Austin, Texas 78758

Caution: DO NOT SIGN this form if a third party requires you to complete Form 4506-T, and lines 6 and 9 are blank. 6 Transcript requested. Enter the tax form number here (1040, 1065, 1120, etc.) and check the appropriate box below. Enter only one tax 1040 form number per request. a Return Transcript, which includes most of the line items of a tax return as filed with the IRS. 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 year and returns processed during the prior 3 processing years. Most requests will be processed within 10 business days

b Account Transcript, which contains information on the financial status of the account, such as payments made on the account, penalty assessments, and adjustments made by you or the IRS after the return was filed. Return information is limited to items such as tax liability and estimated tax payments. Account transcripts are available for most returns. Most requests will be processed within 30 calendar days c Record of Account, which is a combination of line item information and later adjustments to the account. Available for current year and 3 prior tax years. Most requests will be processed within 30 calendar days 7 8 Verification of Nonfiling, which is proof from the IRS that you did not file a return for the year. Most requests will be processed within 10 business days Form W-2, Form 1099 series, Form 1098 series, or Form 5498 series transcript. The IRS can provide a transcript that includes data from these information returns. State or local information is not included with the Form W-2 information. The IRS may be able to provide this transcript information for up to 10 years. Information for the current year is generally not available until the year after it is filed with the IRS. For example, W-2 information for 2006, filed in 2007, will not be available from the IRS until 2008. If you need W-2 information for retirement purposes, you should contact the Social Security Administration at 1-800-772-1213. Most requests will be processed within 45 days

Caution: If you need a copy of Form W-2 or Form 1099, you should first contact the payer. To get a copy of the Form W-2 or Form 1099 filed with your return, you must use Form 4506 and request a copy of your return, which includes all attachments. 9 Year or period requested. Enter the ending date of the year or period, using the mm/dd/yyyy format. If you are requesting more than four years or periods, you must attach another Form 4506-T. For requests relating to quarterly tax returns, such as Form 941, you must enter each quarter or tax period separately.

12 / 31 / 2007

12 /

31 / 2008

/

/

/

/

Signature of taxpayer(s). I declare that I am either the taxpayer whose name is shown on line 1a or 2a, or a person authorized to obtain the tax information requested. If the request applies to a joint return, either husband or wife must sign. If signed by a corporate officer, partner, guardian, tax matters partner, executor, receiver, administrator, trustee, or party other than the taxpayer, I certify that I have the authority to execute Form 4506-T on behalf of the taxpayer. Telephone number of taxpayer on line 1a or 2a ( )

Sign Here

Signature (see instructions)

Date

N/A

Title (if line 1a above is a corporation, partnership, estate, or trust) Spouse's signature Date Cat. No. 37667N Form

For Privacy Act and Paperwork Reduction Act Notice, see page 2.

4506-T

(Rev. 1-2008)

hardship affidavit

CheCklISt

Submit your updated financial information today.

Step 3

Provide a detailed explanation of your hardship by completing the following Hardship Affidavit.

I/we am/are not able to fulfill my/our current loan obligations. I/We am/are submitting this form to IndyMac Mortgage Services and indicating by my/our checkmarks ("4 ") the one or more events that contribute to my/our difficulty making payments on my/our mortgage loan. (Check all that apply.)

Borrower

Yes No

Co-borrower

Yes No

Yes

No

Yes

No

My income has been reduced or lost. For example: unemployment, underemployment, reduced job hours, reduced pay, or a decline in self-employed business earnings. I have provided details below under "Explanation." My household financial circumstances have changed. For example: death in family, serious or chronic illness, permanent or short-term disability, increased family responsibilities (adoption or birth of a child, taking care of elderly relatives or other family members). I have provided details below under "Explanation." My expenses have increased. For example: monthly mortgage payment has increased or will increase, high medical and health-care costs, uninsured losses (such as those due to fires or natural disasters), unexpectedly high utility bills, increased real property taxes. I have provided details below under "Explanation." My cash reserves are insufficient to maintain the payment on my mortgage loan and cover basic living expenses at the same time. Cash reserves include assets such as cash, savings, money market funds, marketable stocks or bonds (excluding retirement accounts). Cash reserves do not include assets that serve as an emergency fund (generally equal to three times my monthly debt payments). I have provided details below under "Explanation." My monthly debt payments are excessive, and I am overextended with my creditors, I may have used credit cards, home equity loans or other credit to make my monthly mortgage payments. I have provided details below under "Explanation." There are other reasons I/we cannot make our mortgage payments. I have provided details on page 16 of this packet under "Explanation."

Yes

No

Yes

No

Yes

No

Yes

No

Yes

No

Yes

No

Yes

No

Yes

No

Step 3

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hardship affidavit

I n f o r m at I o n f o r G ov e r n m e n t m o n I to r I n G P u r P o S e S

Submit your updated financial information today.

Information for government monitoring purposes.

The following information is requested by the federal government in order to monitor compliance with federal statutes that prohibit discrimination in housing. You are not required to furnish this information, but are encouraged to do so. The law provides that a lender or servicer may not discriminate either on the basis of this information, or on whether you choose to furnish it. If you furnish the information, please provide both ethnicity and race. For race, you may check more than one designation. If you do not furnish ethnicity, race, or sex, the lender or servicer is required to note the information on the basis of visual observation or surname if you have made this request for a loan modification in person. If you do not wish to furnish the information, please check the box below.

Borrower

I do not wish to furnish this information. Ethnicity Hispanic or Latino Not Hispanic or Latino Race American Indian or Alaska Native Asian Black or African American Native Hawaiian or Other Pacific Islander White Sex Female Male

Co-Borrower

I do not wish to furnish this information. Ethnicity Hispanic or Latino Not Hispanic or Latino Race American Indian or Alaska Native Asian Black or African American Native Hawaiian or Other Pacific Islander White Sex Female Male

Step 3

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hardship affidavit

e x P l a n at I o n

Submit your updated financial information today.

Use this space to thoroughly document the items checked on the previous page.

Step 3

page | 16

hardship affidavit

B o r r oW e r a n d C o - B o r r oW e r aC k n oW l e d G e m e n t

Submit your updated financial information today.

1. Under penalty of perjury, I/we certify that all of the information in this affidavit is truthful and the event(s) identified above has/have contributed to my/our need to modify the terms of my/our mortgage loan. 2. I/we understand and acknowledge that IndyMac Mortgage Services may investigate the accuracy of my/our statements, may require me/us to provide supporting documentation, and that knowingly submitting false information may violate Federal law. 3. I/we understand that IndyMac Mortgage Services will pull a current credit report on all borrowers obligated on the Note. 4. I/we understand that if I/we have intentionally defaulted on my/our existing mortgage, engaged in fraud or misrepresented any fact(s) in connection with this Hardship Affidavit, or if I/we do not provide all of the required documentation, IndyMac Mortgage Services may cancel the Agreement and may pursue foreclosure on my/our home. 5. I/we certify that my/our property is owner-occupied and I/we have not received a condemnation notice. 6. I/we certify that I/we am/are willing to commit to credit counseling and it is determined that my/our financial hardship is related to excessive debt. 7. I/we certify that I/we am/are willing to provide all requested documents and to respond to all IndyMac Mortgage Services communication in a timely manner. I/we understand that time is of the essence. 8. I/we understand that IndyMac Mortgage Services will use this information to evaluate my/our eligibility for a loan modification or other workout, but is not obligated to offer me/us assistance based solely on the representations in this affidavit.

I/We agree that I/we have completed the required steps as described above.

Signature Date Co-borrower Signature Date

Step 3

page | 17

final Steps

return doCumentS and Call

Submit your updated financial information today.

Step 4

Return your completed Borrower and Co-Borrower Information Form, Income Verification Worksheet, required financial documents, signed and completed Hardship Affidavit, and signed IRS Form 4506-T to IndyMac Mortgage Services using the fax cover sheet included in this packet.

Once you have submitted all of the required information, you will be contacted by us within 30 days. To avoid delays in our review process, please complete all required steps of this packet and include all required documentation. Any incorrect or incomplete information will delay our review process. Please return these documents by fax (preferred) or mail.

Fax this information to us using the enclosed fax cover sheet to:

or

1.866.435.7643

Mail to: IndyMac Mortgage Services IndyMac ­ 4 2900 Esperanza Crossing Austin, Texas 78758

Step 5

Steps 4

&

5

page | 18

fax Cover Sheet

Submit your updated financial information today.

To: IndyMac Mortgage Services Fax Number: 1.866.435.7643 Name: IndyMac Mortgage Services Loan Number: Email Address (required): Phone Number: Mailing Address:

Customer Checklist

Please read the important steps below and initial them to confirm that, for each borrower, you have completed each one:

Borrower Co-Borrower

1. Completed and signed the Information Worksheet. 2. Completed and signed the 4506-T form. 3. Included all required proof of income, proof of occupancy, proof of assets. 4. Provided a detailed explanation of hardship. 5. Signed and completed all steps of the Hardship Affidavit.

I/We agree that I/we have completed the required steps as described above.

Signature Date Co-borrower Signature Date

Step 4

page | 19

Information

19 pages

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