201600921 - Laserfiche WebLink

Browse

2� 1 ��921 r r � � � � • 6 0 � E. In consideration af the ca�enants hcreinafter set farth and for other good and �aluable cvnsideration, the receipt and sufficiency of which are hereby acknowledg�d by the Parties, it is agreed as fallows�nntwithstanding anything to the cantrary in the Loan Dacuments). 2. The Modification. A. The modified principal balance of the l�ote will include amoun#s and arrearages that wil� be past due as of the Modif cat�on Effecti�e I�ate (which may include unpaid and def�rred interest, fees, escrow ad�ances and o�her C05�S, bu� excluding unpaid late charges, �a�uation, property preservafi�n, and other charges not permit�ed und�r the terms of this modification, callecti�ely, "Unpaid Amounts"}�ess any am�un�s paid to the Lender but nvt pre�iously cr�dited to the modified loan. The new principal balance of m� Note will be �56,�09.54 �the "New Principal Balance"}. Borrawer understands �hat by agreeing �v add th� Unpaid Amounts to �he principal balance, the added Unpaid Amounts accrue interest based on the interest rate in e�ect under this Agreement. Borr�wer also understands that this means interest will now accrue on the unpaid �nterest that is added#o the outstanding principal balance,which wou�d nat happen without this Agreement, B. Interest at the rate of 8.5��0%will begin to accrue on the New Principal Ba�ance as af JANUARY 1, ��16 and the first new m�nthly payment on the New Principal Balance will be due on FEBRUARY l,�015 Int�rest due on each monthly payment wil� be calculated by multiplying the New Principal Balance and the interest rate in effect at the time of calculat�on and dividing the result by twel�e�12}. My payment schedule for the modified Laan is as fvtlow5: Months Interest Rate Interest Rate Monthjy Princ�pel Monthly Total Paymeat �heoge Date and Ioterest Peyment Escrvw Mont�ly Begins�n �aymeot �aym�ot� Amo�ot� 480 8.5��0% Q 1IU 112016 $4�7.�0 � �419.�2 $836.4Z �?J4112�16 �This includes an escrow shortage amount to be paid o�er the first 64 month term.After your modification i� complete, es�raw payments adjust at least �nnually in accordan�e w�ith applicable law;therefore,the tatal manthly payment may chaage accordingly. The abv�e terms sha11 supersede any pro�isions to �he contra�ry in the Loan Documents, including hut not limit�d ta,prov�sians for an adjus�able,step or simple interest rate. 3. Laan Modif�ativn Terms. This Agreemen�hereby madifies the following terms❑f the Loan Documents as described here�n above as f�llav�rs: A. The curr�nt cantractual due date has been changed from ��T�BER 1, Z�15 t� FEBRUARY 1, 2�15.The first madifi�d contractual due date is FEBRUARY 1,2�16. B. The maturity date has been extended from�C."1'�BER 1,2426 tn JANi]ARY 1,�455. C. The amount of Reco�erable Expenses�`to be capitalized will be U.S.��.OU. Wells Fau-go Custom Multistaxe Hame Affordable Madification Agreement 47a�� --S ingle Family 1 U�4241 S_3b8 - First American Mortgage Solutians Page 3