Genworth will expect receipt of the signed Note no later than 2/6/2012;

Transcription

1 January 27, Six Forks Road Raleigh, North Carolina Toll Free genworth.com mortgageinsurance.genworth.com 1446 Orchid Street, Unit Yorkville, IL RE: Promissory Note Dear Borrower(s): Enclosed is the Promissory Note for $3, that you have agreed to sign in conjunction with the approved workout in which has agreed to participate. Please sign and date the Note. Sign your name exactly as it appears on the Note. Also, complete the attached form with the most current information. Please do not alter the Note in any way. If the Note is not correct, call the number listed below. Genworth cannot provide tax or legal advice. You should check with an attorney and/or an accountant to determine the legal and/or tax implications of a workout as compared with a foreclosure. Genworth will expect receipt of the signed Note no later than 2/6/2012; Please send the original Promissory Note, signed by the Borrower (s) to the address below: Homeowner Assistance Department 8325 Six Forks Road Raleigh, NC If for some reason the deal falls through, the original Note will be returned to you. If you have any questions, you may contact me at (800) , extension Sincerely, Ansley James Loss Mitigation Specialist Loan Workout Center The above-referenced loan was insured by one of the following underwriters: Corporation, Genworth Residential Mortgage Insurance Corporation of North Carolina, Genworth Residential Mortgage Assurance Corporation

2 GENWORTH MORTGAGE INSURANCE PROMISSORY NOTE (UNSECURED) DATE: MAKER(S): MAILING ADDRESSS OF MAKER(S): 1446 Orchid Street, Unit Yorkville, IL COUNTY WHERE THIS NOTE IS SIGNED: CERTIFICATE NO.: PAYEE: PAYEE ADDRESS: (place for payment). Post Office Box Raleigh, North Carolina Attn: Accounting/Recovery PRINCIPAL AMOUNT: $3, Annual Percentage Rate The cost of my yearly credit as a yearly rate NON-INTEREST BEARING NOTE Finance Charge Amount Financed Total of Payments The dollar amount the credit will cost me The amount of credit provided to me or on my behalf 0% $ 0.00 $3, $3, The amount I will have paid after I have made all payments as scheduled My payment schedule will be: Number of Amount of When Payments Are Due Payments Payments 1 65 $50.18 First day of each month, commencing 6/01/2012 Final or # 66 Payment $50.30 Final payment due 11/01/ Promise to Pay. In consideration of Payee approving a workout, Maker promises to pay to the order of Payee or its Assigns, at the place for payment and according to the terms of payment, the principal amount. All unpaid amounts shall be due by the final scheduled payment date. 2. Security. This loan is unsecured. 3. Prepayment. The Maker of this Note reserves the right to prepay prior to maturity all or any part of the principal of this Note without penalty. Page 1 of 4

3 4. Continuation of Rights. If I make a partial or late payment or mark a payment Paid-in-Full and it is accepted, the Payee will still have its legal right concerning my repayment of this Note or any other note. I will remain obligated to repay this Note or any other note that replaces it, even if any other party to this Note is no longer obligated. Any legal rights that the Payee has will not be given up even if the rights are not used immediately. 5. Default. This Note shall be in Default if any payment shall be received more than ten (10) days after the due date. 6. Payee s Remedies upon Default. It is expressly provided that upon Default, the unpaid principal balance on this note shall become immediately due at the election of Payee. Maker waives all demands for payment, presentations for payment, notices of intention to accelerate maturity, notices of acceleration of maturity, protests, and notices of protests. 7. Collection. If this Note is given to an attorney or collection agency for collection, or if suit is brought for collection, or if it is collected through probate, bankruptcy, or other judicial proceeding, then Maker shall pay Payee all costs of collection, including reasonable attorney s fees and court costs in addition to other amounts due, unless prohibited by state law. Attorney s fees shall be a reasonable amount not to exceed the maximum amount permissible by state law. 8. Credit Reports. Maker authorizes Payee to periodically obtain credit reports. 9. Change in Terms of Loan and Notice. Unless Maker tells Payees of a change of address, Payee will use the address listed on this note if Maker must be contacted. Maker and Payee must make all changes in the terms of this Note in writing. 10. Responsibility of Cosigners. If more than one person signs this Note, each Maker is responsible jointly and severally for all obligations represented by this Note. 11. Law to Be Applied. This Note will be governed by the laws of North Carolina without reference to conflicts of laws provisions thereof which, but for this provision, would require the application of the law of any other jurisdiction. 12. Assignment. This Note shall be fully assignable by the Payee. 13. Verification of Information. Verification or reverification of any financial documentation provided to substantiate the issuance of this note may be made at any time by the Payee, its agents, successors and assigns, either directly or through a credit-reporting agency. 14. Construction. Maker means the Maker or Makers. Payee or Payee s means the Payee named above. When the context requires, singular noun and pronouns include the plural. I ACKNOWLEDGE RECEIPT OF A COPY OF THIS NOTE CORRECTLY COMPLETED AND AGREE TO ITS TERMS. Maker s Name : Signature: Maker s Name : (if more than one Maker) (SEAL) Date: Signature: (SEAL) Date: Page 2 of 4

4 Please Complete This Form Certificate Number: Type or Print Clearly BORROWER Name: SSN: Mailing Address: Home Phone: Employer Name: Address: Business Phone: Position: Gross Earnings per Paycheck: Please check which applies to the frequency of your paychecks: _ Weekly _ every 2 weeks _ 15th & 30th per Month _ Monthly CO-BORROWER Name: SSN: Mailing Address: Home Phone: Employer Name: Address: Business Phone: Position: Gross Earnings per Paycheck: Please check which applies to the frequency of your paychecks: _ Weekly _ every 2 weeks _ 15th & 30th per Month _ Monthly PLEASE SIGN THE ENCLOSED PROMISSORY NOTE Page 3 of 4

5 Corporation Workout PRIVACY POLICY Corporation understands the importance of protecting your privacy. Our goal is to treat your personal information respectfully and in accordance with this policy. Information We Collect. In order to evaluate your eligibility for a workout, we collect a wide variety of financial data about you and any co-borrower, including employment history, credit history, compensation, assets, liabilities, monthly debt service and monthly living expenses. We also collect basic contact information, and identifying information such as your name, address, social security number and telephone numbers. Use and Sharing of Your Information. We will use your personal information only as needed to underwrite and, if applicable, to service your loan with us. We will share your personal information only with approved third parties for the purpose of servicing your loan and enforcing the terms of that loan. Examples of third parties include credit counselors, debt collectors and property appraisers. Also, it is our usual practice to sell the loans we originate for a workout to a third party, if applicable, and that party will receive our complete loan file in order to service and administer your loan going forward. We will also disclose your personal information to the extent required by law, such as a valid subpoena or other legal process. This Privacy Policy also applies to former customers, and we will protect your personal information regardless of whether your account is active or closed and regardless of whether we have sold your loan to a third party investor Security of Your Personal Information. We are committed to preventing unauthorized access to your personal information. We maintain procedures and technology designed for this purpose, including firewalls, password-only access to databases, and security at our business locations. We restrict access to your personal information to those employees and service providers who need to know that information. Any employee who violates our privacy policy is subject to disciplinary action. We also ensure that all service providers are aware of our commitment to privacy and agree to abide by our privacy policy. This notice is provided pursuant to Title V, Subtitle A of the Gramm-Leach-Bliley Act. If you have any questions regarding this Privacy Policy, you may contact our Action Center at Page 4 of 4