If you are experiencing difficulties in making your monthly mortgage payments to Marin Mortgage Bankers Corporation ("MMBC") and your loan was extended to you between January 1, 2003 and December 31, 2007 and your loan is secured by residential real property that is owner occupied, please contact us. We may be able to provide a solid solution to avoid foreclosure. There are several options that may be available to you, including:
- Loan Modifications;
- Loan Repayment Plans;
- Loan Extensions;
- Short Sales;
- Deed in Lieu of foreclosure; and
(Please note that MMBC reserves the right, in its sole and absolute discretion to allow or disallow any of the foregoing options)
STEPS TO TAKE FOR MMBC TO CONSIDER YOUR REQUEST FOR ALTERNATIVES TO FORELCOSURE:
First Step: Gather Documents
What documents do I need before contacting MMBC?
In order to assess your financial situation and explore all options available to avoid foreclosure, you will need to gather and be prepared to present to a representative of MMBC the following documentation. These documents should be provided for all borrowers who are currently listed on your existing mortgage loan with MMBC (please note that providing as many of the following documents as possible will expedite MMBC's response):
- Your most recent pay stub(s), covering a thirty-day period;
- Your last two years' employer W-2 forms;
- Your hazard insurance and property tax bills (for all property owned);
- Savings account statements showing three month's balances;
- A letter of explanation related to your current financial position;
- Evidence of payment status of any senior lien holders on the property securing your loan (if applicable);
- Any recent valuations of the property securing your loan if available (i.e., recent appraisal or current listing agreements for sale of the property.
- A complete copy of your last two years' federal tax returns, all schedules
- A year-to-date Profit & Loss Statement, with Balance Sheet
- A complete copy of your last two years business returns (1065s, 1120S or 1120, if applicable)
- Your last two years K-1s (if applicable).
If you are self-employed, please be prepared to present the following:
Please note that additional documentation may be needed and requested after MMBC's initial review.
Next Step: Call Us Today!
Call us today and have your documents ready to present to a MMBC representative. MMBC will work with you to discuss your financial situation and explore options that may be available to you in order to avoid foreclosure.
You may contact us directly or you can designate an agent to act on your behalf. If you wish to designate an agent to speak with MMBC on your behalf, please complete and return this document directly to MMBC at 51 Maria Drive, Suite 821, Petaluma, Ca 94954, and have your designated representative contact us immediately.
AVAILABILITY OF HUD COUNSELING
Please note that Housing & Urban Development (HUD) also provides homeownership counseling to borrowers delinquent on their home loans. HUD has designated HUD-certified housing counseling agencies that may be able to assist you. To find a HUD-certified housing counseling agency near you, call 1.800.569.4287 for assistance.
This notice is provided in accordance with California Civ. Code. §2923.5(g)(5). Please be advised that MMBC reserves the right to accept or deny any request for foreclosure avoidance in its sole and absolute discretion. The approval of MMBC of any option to avoid foreclosure is on a case by case basis and merely calling MMBC to discuss possible alternatives to foreclosure does not guarantee that you will be approved.