BORROWER’S FINANCIAL PACKAGE

BORROWER'S FINANCIAL PACKAGE

Completion of the Borrower's Financial Package (BFP) is the first step in asking VHDA to review your loan for possible assistance.

*** Listed below are ALL of the items we MUST receive before we can review your request. ***

*** Please review the instructions for each item and provide the information we need.

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***

A complete package will allow us to process your request more quickly.

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***

Please do not staple any papers together.

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1. Borrower's Financial Statement (part of the paperwork you need to print out)

2. Hardship Affidavit (part of the paperwork you need to print out)

3.

3rd Party Authorization (part of the paperwork you need to print out)

This form must be completed if you are requesting VHDA to speak with other persons not on the note as

co-borrower.

Please complete the company name, the individuals' names and the timeframe VHDA can speak with

them.

4. Hardship Letter This explains your situation and/or circumstances and why you are contacting VHDA. Blank sheets are provided or you can type your own letter.

5. Verification of Hardship You must provide written verification that supports/explains the hardship you have stated. Example: If your hardship is reduction of income, then you must provide examples of your previous income and your current income. Example: If your hardship deals with a divorce, then you must provide copies of your divorce decree. Please note that once your file is assigned to a loss mitigation officer additional verification may be required.

6. 30 days of the most recent and consecutive paystubs for each job by each household member If self-employed we need 90 days of verification. This can be provided by Profit and Loss statements, estimated quarterly tax returns or spreadsheets. If questions please call the Loss Mitigation department.

7. Verification of unemployment (if applicable and if not receiving unemployment benefits)

8. Verification of any additional income (other than employment) Examples of this include child support, alimony, unemployment benefits, social security, disability income, rental income, pension, etc.

9. Verification of HOA (Home Owners Association) Dues You must submit a copy of your association statement or coupon if you are paying Home Owners Association Dues/Condo Fees.

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10. Two (2) months of the most recent and consecutive REAL/ACTUAL bank statements for all accounts Transaction listings/history or account activity statements are NOT acceptable. The statement must show the bank's logo, ownership of the account and all related accounts. Be sure to send all pages of each statement (including blank ones).

11. Last 2 years of your complete and SIGNED Tax Returns The 1040 form of your tax returns MUST BE SIGNED even those submitted electronically by you to the IRS.

All schedules must be included (i.e. schedule A, etc.) Transcripts ordered from the IRS do not have to have the 1040 form signed. Your signature indicates that the returns are what you actually submitted to the IRS. Sending your tax returns does not take the place of sending the 4506-T form

12. IRS 4506-T Tax Transcript Request Form Refer to the `sample' form included to know which lines to complete. Please clearly print your information. Sign and date the form on the bottom and include your phone number. Sending this form does not take the place of sending your tax returns.

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A copy of the notice on finding HUD-approved HOUSING COUNSELORS (9692HC) has been included. If you need assistance in completing the information you may contact a HUD-approved counselor. To find a counselor in your area go to and click on "Avoiding Foreclosure".

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A copy of the SERVICEMEMBERS CIVIL RELIEF ACT NOTICE DISCLOSURE form (HUD-92070 exp 12-1317) has been included.

Please read this document to see if it pertains to you. No additional information needs to be supplied.

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OUR PROCESSING OF YOUR FILE WILL NOT BEGIN UNTIL WE HAVE RECEIVED ALL OF THE INFORMATION WE NEED.

Depending on your individual circumstances, additional information may be required. Please provide copies of documents as originals will not be returned nor copies made. Once the file has been processed it will then be given to a loss mitigation officer for their review.

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SHOULD YOU HAVE QUESTIONS: Email lossmitigation@ Call the Loss Mitigation department at 1-888-756-8603 or 804-783-6716.

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SEND YOUR COMPLETED BORROWER'S FINANCIAL PACKAGE TO: Fax: 1-804-343-8680 Email: lossmitigation@ VHDA ? Attn: Loss Mitigation Dept. ? P.O. Box 4627 ? Richmond, VA 23220

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Note: VHDA is not responsible for the security and/or confidentiality of personal information submitted via email or fax.

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BORROWER'S FINANCIAL STATEMENT

VHDA LOAN # _____________________

BORROWER

Borrower's Name

CO-BORROWER

Co-Borrower's Name

Social Security Number

Date of Birth

Social Security Number

Date of Birth

________ - ________ - ________ _____/______/_______ _______ - _______ - _______ ______ /_______ /________

Home Phone # with area code (Best time to Call) (________) ________ - __________ Cell Phone # with area code (Best time to Call) (________) ________ - __________

Work Phone # with area code (Best time to Call) (________) ________ - __________

Property Address:

Home Phone # with area code (Best time to Call) (________) ________ - __________ Cell Phone # with area code (Best time to Call) (________) ________ - __________

Work Phone # with area code (Best time to Call) (________) ________ - __________

Number in Household:

Mailing Address (Complete only if different):

Email address:

PROPERTY INFORMATION

Do you have condominium or homeowner association (HOA) fees? Yes No (If yes, provide verification of dues.) Total Monthly HOA Payment Amount: $_________________ (not payment to VHDA)

Name and address to whom fees are paid: ____________________________________________________________________

____________________________________________________________________

I want to:

Keep the Property Vacate the Property Sell the Property

Undecided

The property is currently: My Primary Residence Second Home

Investment Property

The property is currently: Owner Occupied

Tenant Occupied *

Vacant

*If the property is rented please provide a copy of the rental agreement.

Is the property listed for sale? Yes No Listing Date: ________________ If the property has been listed for sale, have you received an offer on the property? Yes No

Date of Offer: ___________________________

Is the property for sale by: Agent ** Owner **If by Agent, please provide a copy of the listing agreement.

Agent's Name:__________________________________________________________________________

Agent's Phone #: ________________________________________________________________________

Agent's Email: __________________________________________________________________________

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VHDA LOAN # ______________________

COUNSELING

Have you contacted a credit Counseling Agency for help? If yes, complete counselor contact information below.

Yes No

Counselor's Name:______________________________________________________________________

Agency's Name: ________________________________________________________________________

Counselor's Phone #:____________________________________________________________________

Counselor's Email:______________________________________________________________________

MILITARY STATUS

Is any borrower an active duty service member? Yes No Primary Borrower Co-Borrower

Has any borrower been deployed away from his/her primary residence or received a Permanent Change of Station Order? Yes No

Is any borrower the surviving spouse of a deceased service member who was on active duty at the time of death? Yes No

BANKRUPTCY INFORMATION

Have you filed for bankruptcy? Yes No If Yes: Chapter 7 Chapter 13 Filing Date: _____________ Has your bankruptcy been discharged? Yes*** No Bankruptcy Case Number: _______________________________ ***If yes, please provide a copy of the discharge order signed by the court.

ADDITIONAL LIENS/JUDGMENTS

If there are additional liens or judgments on this property, please name the person(s), company or firm and their respective telephone numbers.

_______________________________________________________ Lien Holder's Name

______________________________________ Telephone Number

_______________________________________________________ Lien Holder's Name

______________________________________ Telephone Number

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VHDA LOAN # ______________________

EMPLOYMENT ? BORROWER

EMPLOYMENT ? CO-BORROWER

Employer's Name, Address & Phone #

How Long? Employer's Name, Address & Phone #

How Long?

MONTHLY INCOME ? BORROWER

Are you Self-Employed?

Yes No

Do you earn a:

Salary

Hourly Wage

Frequency of Pay

MONTHLY INCOME ? CO-BORROWER

Are you Self-Employed?

Yes No

Do you earn a:

Salary

Hourly Wage

Frequency of Pay

Gross Wages

$

Overtime (average per month) $

Tips / Commissions / Bonus

$

Self-Employment Income

$

Unemployment Income

$

Child Support

$

Alimony

$

Social Security

$

Social Security - Disability

$

SNAP / TANF Benefits

$

Rental Income

$

Other (specify)

$

Total Gross Income

$

Gross Wages

$

Overtime (average per month)

$

Tips / Commissions / Bonus

$

Self-Employment Income

$

Unemployment Income

$

Child Support

$

Alimony

$

Social Security

$

Social Security - Disability

$

SNAP / TANF Benefits

$

Rental Income

$

Other (specify)

$

Total Gross Income

$

REQUIRED INCOME DOCUMENTATION

Each person receiving employment income must provide paystubs that reflect the most recent 30-day period and year-to-date earnings.

Persons who are self-employed must include a complete, signed individual federal tax return complete with all schedules and, as applicable, the business tax return; AND signed and dated quarterly or year-to-date profit/loss statements reflecting activity for the most recent three months; OR copies of business bank statements for the most recent two preceding months.

Written verification is needed for all other types of income being reported. Examples of such documentation are award letters, divorce papers, pension statements, DSS print outs, rental lease agreement, etc.

ASSETS ? BORROWER

Bonds

$

Certificates of Deposit (CDs) $

Checking Account

$

Life Insurance Policy

$

Retirement Account/Pension

$

Savings Account

$

Stocks

$

Cash on Hand

$

Other Real Estate

$

Other (specify)

$

ASSETS ? CO-BORROWER

Bonds

$

Certificates of Deposit (CDs)

$

Checking Account

$

Life Insurance Policy

$

Retirement Account/Pension

$

Savings Account

$

Stocks

$

Cash on Hand

$

Other Real Estate

$

Other (specify)

$

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VHDA LOAN # ______________________

MONTHLY EXPENSES (for all household members)

Other Mortgage / Liens:

- 2nd mortgage lien

$

- Mortgage on other property $

Car Payment:

- Payment

$

- Payment

$

Credit Cards: - Card _________________ $ - Card _________________ $ - Card _________________ $ - Card _________________ $

Car Insurance

$

Transportation:

- Gasoline

$

- Car Repairs

$

- Parking / Tolls

$

Utilities:

- Electricity

$

- Gas Heat or Heating Oil

$

- Garbage / Trash

$

- Sewer

$

- Water

$

Installment Loans: - Loan ________________ $ - Loan ________________ $

Alimony & Child Support

$

Student Loan

$

Other Liabilities:

-

$

-

$

-

$

Food:

- Groceries

$

- Dining Out

$

Home Phone:

- Internet

$

- Cable

$

Cell Phone

$

Medical Expenses:

- Co-Pays

$

- Prescriptions

$

- Health Ins (not withheld from pay)

$

Other Expenses:

- Charitable Donations / Church $

- Child Care / Dependent Care $

- Clothing

$

- Entertainment

$

- HOA / Condo Fees

$

- Home Insurance

$

- Life Insurance (not withheld from pay) $

- Personal Care (hair, nails, etc.) $

- Pet Supplies & Vet Care

$

- Residence Maintenance

$

- Other ____________________ $

- Other ____________________ $

- Other ____________________ $

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VHDA LOAN # ______________________

AFFIDAVIT & ACKNOWLEDGEMENT

Affidavit: This Section MUST be signed and dated.

I/We agree that the financial information provided is an accurate statement of my/our financial status. I/We understand and acknowledge that any action taken by VHDA, the servicer on my/our mortgage loan on my/our behalf will be made in strict reliance on the financial information provided. My/our signature(s) below grants VHDA, as the servicer of my/our mortgage the authority to: confirm the information I/we have disclosed in this financial statement; order a credit report; contact any third party as identified from provided borrower(s) written authorizations (if applicable). I/We attest that the subject property has no physical condition(s) which adversely impact continued use or my/our ability to support the debt.

Submitted this ___________Day of _________________, 20_____

By: ___________________________________________ Signature of Borrower

By: _____________________________________________ Signature of Co-Borrower

Please note: Your submission of documentation to VHDA and the consideration by VHDA and discussions with you

of any possible mortgage loan assistance shall not constitute a contract to modify your loan. No contract to modify your loan shall exist until the appropriate documents modifying the loan terms

have been executed by you and VHDA. Accordingly, prior to the execution of those documents, you should not take any action (or fail to take any

action) in reliance on any foreclosure alternative being approved by VHDA. The acceptance by VHDA of your submission of documentation and its consideration and discussion with

you of possible foreclosure alternatives shall not be deemed to constitute a waiver of any of your obligations or any of VHDA's rights and remedies under the loan documents.

I/We Agree as Follows: This section MUST be signed and dated.

VHDA may discuss, obtain and share information about my/our mortgage and personal financial situation with third parties such as real estate brokers, insurers, financial institutions, creditors and credit bureaus.

Discussions and negotiations of possible foreclosure alternatives will not constitute a waiver of or defense to VHDA'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 VHDA.

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

By: _____________________________________________ Signature of Co-Borrower

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VHDA THIRD PARTY AUTHORIZATION

NOTE: This page must be completed if you are giving VHDA permission to talk about your mortgage with anyone other than the person(s) listed on the note.

The third party authorization allows you, the borrower(s), to give permission to VHDA to speak with others about your loan especially involving retention/liquidation options.

Without this properly executed permission, VHDA will only speak with those persons who appear on the actual mortgage note.

It is your responsibility to designate the person(s)/companies that have your permission and the timeframe or specific circumstances involved.

Information contained in this document will be entered in VHDA's mortgage processing system and the document itself will be retained with the file and imaged.

Please note that those persons receiving authorization to speak with VHDA's representatives can only receive information and are not permitted to make changes

Loan Number: ___________________________ Property Address: _______________________________________________________________________________

Authorization to Release Information:

I/We hereby authorize VHDA to release to those persons/companies shown below any and all information he/she/they may require for the purpose of discussing my loan, credit, retention option, transfer, sale and/or foreclosure of the property.

Borrower: _____________________________________ ______________________________________________

Print

Signature

Co-Borrower: __________________________________ ______________________________________________

Print

Signature

Date: _______________________________

Permission is granted to:

Spouse/Partner

Housing Counseling Agency

Realtor/Realty Company

Attorney's Office

Third Party Negotiator

Other _______________________________

Timeframe permission granted: You must select either life of loan or list a specific date range

Life of loan For the specific time of _________________________________________________________________________

(from this month to this month in specific years)

Company Name: _______________________________________________________________________________

Individual Name: _______________________________________________________________________________

Individual Name: _______________________________________________________________________________

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