Foreclosure Avoidance Programs This is important information regarding options that may be available to you in regards to your loan. If your loan is serviced by Waterstone Mortgage, you may qualify for one of the options listed below. If you are having difficulty making your payments and would like to remain in your home, the following options may be able to assist you in doing so while avoiding foreclosure. Modification: A permanent change to your existing mortgage note. This may include the capitalization of the delinquent balance of the loan if applicable, a reduction of your current interest rate or an extension of the term of your present note. Forbearance: A temporary reduction or suspension of your monthly mortgage obligation. This is designed to help borrowers whose hardship is temporary, such as short term disability or unemployment. Repayment Plan: A scheduled payment arrangement that results in bringing your loan current at its conclusion. Waterstone Mortgage is committed to helping its customers who are struggling to make payments. To help us better assist you, please begin to gather the following documents we will need to decision your loan for any of the options listed above. Most recent year’s Tax Returns Paystubs for last 60 days Other pertinent income documents if applicable (Social Security awards letter, pension, current P&L statement) Last 3 months bank statements (All pages) Other documentation showing hardship If you can no longer afford to stay in your home or have vacated your property, these options may help you avoid foreclosure Short Sale: The sale of your current property for an amount less than what is currently owed on the property. Deed in Lieu: An agreement to deed the property back to the bank in an effort to avoid foreclosure in exchange for the discharge of the debt. To expedite your review please begin to gather the following documents we will need to decision your loan for any of the options listed above. Most recent 2 Years tax returns Paystubs for last 60 days Other pertinent income documents if applicable (Social Security awards letter, pension, current P&L statement) Last 3 months bank statements (All pages) Other documentation showing hardship If your property is currently listed with a real estate agent, we require a third party authorization form containing the agents name and contact information. In order to complete a Short Sale please be aware of the following requirements: You must cooperate and allow us access to the interior of your property to enable us to determine an appraised value. The sale must be an “Arm’s Length Transaction” which means that all parties involved must be unrelated or unaffiliated. If there is a deficiency, or shortage between how much you still owe and the final proceeds received from the sale of your property, you may be required to make a contribution toward any such deficiency. The contribution could be in cash or a promissory note. If the property is sold as a Short Sale you will not be permitted to receive any proceeds from the sale of the property, or to receive funds that may be paid in relation to a hazard/flood insurance claim. To discuss any of the above options that may be available to you, or to request a Borrower Response Package which must be completed and returned to us along with the aforementioned documents please contact us at (877) 909-9416. Availability of HUD Counseling The United States Department of Housing and Urban Development (“HUD”) has designated HUD-certified counseling agencies that may be able to assist you. To find a HUD-certified housing counseling agency near you, call (800) 569-4287 or you may use the following link to find a HUD certified counseling agency: http://www.hud.gov/offices/hsg/sfh/hcc/fc This notice is provided in accordance with California Civ. Code. §2923.5(e)(5). Please be advised that your loan servicer reserves the right to accept or deny any request for foreclosure avoidance in its sole and absolute discretion. The approval of your loan servicer of any of the above options is on a case by case basis and must be evidenced by a written approval. Merely calling to discuss a possible the aforementioned options does not mean that you will be approved.