Loan # 1: 0200051633

Client Name: Jose Funes

Address: 5110 Compton Av, Los Angeles, CA. 90011

Fax Cover Sheet

To: Vay View From: 2561 Iowa Av
South Gate, CA. 90280
Fax: Phone: (323) 566 - 7342
Phone: Date:
Re: Short Sale Review Pages:
Urgent For Review Please Comment Please Reply

Borrower
Jose Funes
1st Lender/Servicer Loan #
Vay View 0200051633
Property Address City State Zip
5110 Compton Av Los Angeles CA 90011
Comments:
Please confirm receipt of this short sale package. You should have the following documents
included with this package.

Cover Sheet
Short Sale Request
Short Sale Proposal
Hardship Letter
Monthly Expense Worksheet
Monthly Income Worksheet
Schedule of Real Estate Owned
Copy of recent mortgage statement
Copy of any delinquency notices, notice of default, or any other pertinent
documents
Past 2 years tax returns
Past 2 months pay stubs
Past 2 months bank statements
Last 6 months profit and loss (if self-employed)
Copy of drivers license
4506T - Form
 Loan # 1: 0200051633
Client Name: Jose Funes
Address: 5110 Compton Av, Los Angeles, CA. 90011

Short Sale Request- 1st Mortgage

2561 Iowa Av
South Gate, CA. 90280

Vay View

Re: Short Sale Request- 1st Mortgage Loan # 0200051633

To Whom it concerns,

Enclosed with this package, you will find our short sale offer and supporting documentation for a short sale
regarding loan number 0200051633. After reviewing all of the current houselhold income and expenses, you
will find that a short sale is necessary. In the current situation, the mortgage payments are not affordable. We
have been aggressively hunting to find some one to buy our property, but with current housing and economic
climate, it has been very difficult to find anyone to pay close to what the loan amount value. We are asking that
you please review our situation and consider our purchase offer. It will save us both a lot of time, aggravation
and money, if we can avoid foreclosure proceedings altogether.

Please review the enclosed documents outlining my overall financial situation and the local real estate market
conditions. You may contact me with any questions or requests for further documentation.

Sincerely,

Jose Funes
Phone (323) 566 - 7342
Email 89991@dummyemail.com
 Loan # 1: 0200051633
Client Name: Jose Funes
Address: 5110 Compton Av, Los Angeles, CA. 90011

Proposal/Offer
Borrower Name: Jose Funes 1st Loan #: 0200051633
Property Address: 5110 Compton Av
Los Angeles, CA. 90011
We are proposing the following Short Sale Terms for your favorable decision:

Current Mortgage Information

Loan Number: 0200051633

First Mortgage Current

Loan Type: 30 Year Fix

Principal Balance: $500,000.00

Terms 30 Years

Interest Rate (APR): 0.000%

Monthly 1st Mortgage Payment (PITIA) $3,960.00

Housing DTI (Incls. 1st Mortgage) 188.57%

Amount Past Due $0.00

Income Analysis Market Value Analysis

Income Analysis Current

Gross Monthly Household Income $2,100.00 Current Market Value: $230,000.00

Net Monthly Household Income $2,100.00 Balance of First Mortgage: $500,000.00

Total Monthly Expenses $2,961.00

(Non Mortgage Related)
Total Monthly Housing Taxes $0.00 Total Mortgage Debt $500,000.00
and Insurance
Total Monthly Expenses $6,921.00 Equity Surplus/Deficit ($270,000.00)
(Including Mortgage)

Monthly Net Cash Flow ($4,821.00) Current LTV: 217.39%

Surplus/deficit % of Income (229.57%) Asset Liquidation Analysis

Back End DTI 294.38% Current Market Value: $230,000.00

Foreclosure Estimated Sales Price $172,500.00

Income Analysis
(75% of CMV)

Est. months in arrears at time of REO sale: 10 Less: Real Estate Commissions @ 5%: $8,625.00

Current Monthly Mortgage Payments $3,960.00 Less: Estimated Foreclosure Costs: $42,600.00
(P+I Only):
 Loan # 1: 0200051633
Client Name: Jose Funes
Address: 5110 Compton Av, Los Angeles, CA. 90011

Mortgage Pymts in arrears at sale: $39,600.00 Total Sale Proceeds to Lender $121,275.00

Attorney's Fees: $1,000.00 Foreclosure Estimated Loss

Estimated Cost to Secure Property: $1,000.00 Total Sale Proceeds $121,275.00

Estimated Maintenance Costs: $1,000.00 Less: Balance of 1st Mortgage $500,000.00

Total Estimated Foreclosure Costs (Does $42,600.00 Estimated Lender Loss from Foreclosure ($378,725.00)
not include any costs to cure property)

Short Sale Offer Analysis

Original Par Amount $470,000.00

Cure Rate 10.000%

Current Property Value (BPO) $230,000.00

Home Price Forecasted Depreciation 9.000%

REO Stigma Discount 20.000%

Liquidation Value $140,300.00

Past Due Interest, Advanced Escrows & Accumulated Fees $0.00

Expected REO Disposition Value $140,300.00

REO Value $173,270.00

Short Sale Offer $0.00

Investor Benefit by Accepting Short Sale ($173,270.00)

 Loan # 1: 0200051633
Client Name: Jose Funes
Address: 5110 Compton Av, Los Angeles, CA. 90011

Short Sale Proposal

Borrower Name: Jose Funes 1st Loan #: 0200051633
Property Address: 5110 Compton Av
Los Angeles, CA. 90011

We have a buyer offering $165,000.00, closing in 45 days, and asking for no inspection period. Based on the
comparables and the amount of damage to the property, you can see that the buyer's offer is more than fair.
Upon our inspection of 5110 Compton Av, Los Angeles CA. 90011, we found that the property needs major
work to bring it up to current market standards. Our buyer has based the offer on the market values as well as
the necessary repairs. In addition, after inputting the variables on our internal model, which corresponds to
FDIC Guidelines, it would be beneficial for the investor to accept the proposed short sale offer due to the
$173,270.00 in savings over a foreclosure. The borrower has experienced a legitimate hardship which is
permanent. Given the income and expenses, there is no question the borrower will continue to default. The
property was listed with a realtor since ; however there have been no offers to cover the amount the borrower
owes. Please review the attached documents and respond at your earliest convenience. I urge you to accept our
buyer's proposal and move for a quick closing on this property. Thank you for your cooperation and we look
forward to working with you.

Sincerely,

4Closures Legal Support

Phone (909) 991 - 7474
 Loan # 1: 0200051633
Client Name: Jose Funes
Address: 5110 Compton Av, Los Angeles, CA. 90011

Form 1126
BORROWER CO-BORROWER
BORROWER'S NAME CO-BORROWER'S NAME
Jose Funes
SOCIAL SECURITY NUMBER DATE OF BIRTH SOCIAL SECURITY NUMBER DATE OF BIRTH
573 - 97 - 9094
HOME PHONE # WITH AREA CODE (BEST TIME TO CALL) HOME PHONE # WITH AREA CODE (BEST TIME TO CALL)
(323) 566 - 7342
WORK PHONE # WITH AREA CODE (BEST TIME TO CALL) WORK PHONE # WITH AREA CODE (BEST TIME TO CALL)

CELL PHONE # WITH AREA CODE (BEST TIME TO CALL) CELL PHONE # WITH AREA CODE (BEST TIME TO CALL)

MAILING ADDRESS 2561 Iowa Av, South Gate, CA. 90280

PROPERTY ADDRESS (IF SAME AS MAILING ADDRESS, JUST WRITE SAME) EMAIL ADDRESS
5110 Compton Av, Los Angeles, CA. 90011 89991@dummyemail.com
Number of Dependants: Do you occupy the property? Is it rental property? Yes No Is it leased? Yes No
1 Yes No If you have a lease agreement, please provide a copy.
Is the property listed for sale? Yes No Have you contacted a credit-counseling agency Yes No
for help?
If yes, please provide a copy of the listing agreement. If yes, please complete counselor contact information below.
Agent's Name: Counselor's Name:
Agent's Phone Number: Counselor's Phone Number:
Agent's Email: Counselor's Email:
Do you receive, and pay, the Real Estate Tax bill on your home or Do you pay for a hazard insurance policy? Yes No
does your lender pay it for you? I do Lender does
Are the taxes current? Yes No Is the policy current? Yes No
If you pay it, please provide a copy of your tax statement. If you pay it, please provide a copy of the policy.
Have you filed for bankruptcy? Yes No If yes: Chapter 7 Chapter 13 Filing Date: Jan 6, 2011
Has your bankruptcy been discharged? Yes No If yes, please provide a copy of the discharge order signed by the court.
INVOLUNTARY INABILITY TO PAY
I (We), Jose Funes, am/are requesting that the Federal Home Loan Mortgage Corporation (Freddie Mac) 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 Distant Employment Transfer Incarceration Transferring Property
Business Failure Excessive Obligations Military Service Unemployment
Casualty Loss Fraud Payment Adjustment Other
Curtailment of Income Illness in Family Payment Dispute
Death in Family Illness of Mortgagor Property Problems
Death of Mortgagor Inability to Rent Property Title Problems
I believe that my situation is: Short term (under 6 months) Long term (over 6 months) Permanent
I want to: Keep the Property Sell the Property
Please provide a detailed explanation of the hardship on a separate sheet of paper.
If there are additional Liens/Mortgages or Judgments on this property, please name the person(s), company or firm and their respective
telephone numbers.
0.00
Lien Holder's Name Balance / Interest Rate Phone Number (WITH AREA CODE)
0.00
Lien Holder's Name Balance / Interest Rate Phone Number (WITH AREA CODE)
 Loan # 1: 0200051633
Client Name: Jose Funes
Address: 5110 Compton Av, Los Angeles, CA. 90011

EMPLOYMENT
BORROWER- EMPLOYER'S ADDRESS & HOW CO-BORROWER- EMPLOYER'S ADDRESS & HOW
PHONE # LONG? PHONE # LONG?

Monthly Income - Borrower Monthly Income - Co-Borrower

Gross Wages / Frequency of Pay $2,100.00 Gross Wages / Frequency of Pay $
Commissions, bonus and self-employed $ Commissions, bonus and self-employed $
income income
Unemployment Income $ Unemployment Income $
Child Support / Alimony* $ Child Support / Alimony* $
Disability Income/ SSI $ Disability Income/ SSI $
Rents Received $ Rents Received $
Other (i.e. family, retirement, interest) $ Other (i.e. family, retirement, interest) $
Less: Federal and State Tax, FICA $ Less: Federal and State Tax, FICA $
Less: Other Deductions (401K, etc.) $ Less: Other Deductions (401K, etc.) $
* * * * * ALL INCOME NEEDS TO BE DOCUMENTED * * * * * *
Paystub must be most recent date with year to date information.
Total (Net income) $2,100.00 Total (Net income) $
Monthly Expenses Assets
Other Mortgages / Liens $1,600.00 Type Estimated Value
Auto Loan(s) $622.00 Checking Account(s) $
Auto Expenses $120.00 Saving / Money Market $
Credit Cards / Installment Loan(s) (total $ Stocks / Bonds / CDs $
minimum payment for both per month)
Auto, Health, Life Insurance (not $60.00 IRA / Keogh Accounts $
withheld from pay)
Medical (Co-pays and Rx) $ 401k / ESPO Accounts $
Child Care / Support / Alimony $ Home $160,000.00
Food / Spending Money $350.00 Other Real Estate $240,000.00
Water / Sewer / Utilities / Phone $209.00 Cars $
HOA/Condo Fees/Property Maintenance $ Life Insurance (Whole Life not Term) $
Entertainment $ Other $
Total $2,961.00 Total $400,000.00
* 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.
I agree as follows: My lender 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 my lender's 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.

Submitted this_____________________________ day of ________________________________ 20 ____________

By______________________________________
Signature of Borrower
 Loan # 1: 0200051633
Client Name: Jose Funes
Address: 5110 Compton Av, Los Angeles, CA. 90011

FOR LENDER USE ONLY

Provide the appropriate information about the borrower, mortgage and property. If there are junior or superior liens, indicate
the total amount owed, the name of the lien holder(s) and the status of the lien (i.e., current, in foreclosure, delinquent and
indicate the number of days delinquent).

The Debt analysis section is divided into three sections: the amount of expenses which have been paid or advanced to retain
the lien status; the total amount of the mortgage debt, including the amount of escrow that remains after any advances have
been made; and the pending expenses which you are aware are coming due, such as pending unpaid real estate taxes, and
indicate the date that any unpaid expenses are due.
Freddie Mac Loan Number Seller/Servicer Loan Number DDLPI Current Interest rate Seller/Servicer Number
| | | | | | | | | | | | | |
Preparer's Name Date Prepared Phone Number Fax Number
( ) ( )
Seller/Servicer Name E-mail Address
Address City State

MI Contact Name Phone Number ( )

If Primary MI Coverage: If Pool MI Coverage:
MI Company__________________________ MI Company____________________________

Certificate #____________________________ Certificate #____________________________

% of Coverage__________________________ % of Coverage__________________________

Recommendation: Short Payoff Scheduled or Estimated Foreclosure Sale Date

Deed in Lieu Makewhole / /
Bankruptcy History: Chapter ___________________ Date Filed / / Date Released / /
Monthly payment: P & I $ ________Hazard Insurance $ _______Other Escrowed Amt $ __________
Taxes $ ________Mortgage Insurance Premium $ ___________________
If loan is an ARM: If loan is a GPM:
Interest Rate:______Effective Date:________ Interest Rate:______ Effective Date:________
P&I__________ Interest Rate:______ Effective Date:________
Property Condition: Good Fair Property Insurance Claim $
MI Contribution $ Borrower Contribution $
Junior Lien Amount $ Lien Holder Status of Lien
Superior Lien Amount $ Lien Holder Status of Lien
Expenses Mortgage Debt Pending Unpaid Expenses
(describe/due date)
Appraisal/BPO $ Unpaid Principal Balance $ Next RE taxes due $
/ /
Real Estate Taxes $ Accrued Interest $ $
Foreclosure $ Positive Escrow Balance $ $
Bankruptcy $ Negative Escrow $ $
Water/Sewer Pmts $ (Net of advances) $ $
Other (explain) $ (B) Total Loan Amount $ $
(A) Total Expenses $ Total Debt (A + B) $ Total $
 Loan # 1: 0200051633
Client Name: Jose Funes
Address: 5110 Compton Av, Los Angeles, CA. 90011

Qualification Summary
Did homeowner receive notice of foreclosure or default by bank or Yes
attorney?

Default received notice date

Notice of summons date

Sales Date if provided by bank/attorney

Has homeowner already received or tried to receive a No

modification/forbearance/work out from their bank?

Have you been 30+ days late in the past 12 months? Yes

Has client received notice of summons No

Is the mortgage currently behind? Yes

How many months are they behind?

How many people live in the property? 3

How many are dependents? 1

How many years have you lived in the property? 0

Do you want to stay in this home? No

Is this home currently listed for sale? Yes

For Sale by Owner?

Have you received an offer on the property? Yes

Date of offer

Amount of Offer $145000.00

Agent’s Name Laura

Agent's Phone Number (909) 991 - 7474

Is this home currently vacant? No

Is the home in serious need of repair? No

 Loan # 1: 0200051633
Client Name: Jose Funes
Address: 5110 Compton Av, Los Angeles, CA. 90011

Did you close on the mortgage for this home before January 1, 2009? Yes

Are you self-employed? No

Do you have more than one property? Yes

Provide schedule of real estate owned inside package(s)

Are you in bankruptcy or about to be in bankruptcy? No

Have you contacted a credit-counseling agency for help? No