Litton Approval

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4828 Loop Central Drive Houston, TX 77081 Telephone (800) 999-8501 Fax (713) 793-4363 www.littonloan.com 11/03/2010 Re: Loan #: Property: Dear Mortgagor(s): Litton Loan Servicing LP (“Litton”) agrees to participate in the assisted short sale of the referenced property. This letter serves as our formal statement for use by the closing agent. No additional statements will be issued, and the approval of this transaction is exclusive to the offer by the buyer referenced in this letter. The condi
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    LITTON LOAN SERVICING LP IS A DEBT COLLECTOR. THIS IS AN ATTEMPT TO COLLECTYOUR DEBT AND ANY INFORMATION OBTAINED WILL BE USED FOR THAT PURPOSE.IF YOU ARE NOT OBLIGATED ON THE DEBT OR IF THE DEBT HAS BEEN DISCHARGED IN ABANKRUPTCY PROCEEDING, THIS IS FOR INFORMATIONAL PURPOSES ONLY AND IS NOTAN ATTEMPT TO ASSESS OR COLLECT THE DEBT FROM YOU PERSONALLY. 4828 Loop Central DriveHouston, TX 77081Telephone (800) 999-8501Fax (713) 793-4363www.littonloan.com 11/03/2010   Re: Loan #:Property:Dear Mortgagor(s):Litton Loan Servicing LP (“Litton”) agrees to participate in the assisted short sale of the referencedproperty. This letter serves as our formal statement for use by the closing agent. No additional statementswill be issued, and the approval of this transaction is exclusive to the offer by the buyer referenced in thisletter.The conditions of the transaction are as follows:   1.   The closing, funding, and receipt of funds must occur no later than 11/08/2010 , or the approval of thistransaction is void.   2.   The approved, non-relative buyer(s) is/are , and the sale price shall be $ 180,000.00 .   Another buyer cannot be substituted without Litton’s prior written approval.   3.   Proceeds to Litton shall be no less than $ 156,824.35. Litton reserves the right to adjust its approvednet proceeds or cancel this approval if any of the terms on the enclosed preliminary HUD-1Settlement Statement are altered without our prior approval. The property is being sold “as-is,” andno repairs will be paid out of the proceeds unless specifically stated.   4.   The seller will not receive any proceeds from this short sale transaction. Remaining escrow funds orrefunds of any kind will be sent to Litton to offset the loss.   5.   Should the closing be delayed and the investor agree to an extension of the srcinal closing date, theseller shall be responsible for per diem charges, extension fees, and foreclosure sale postponementfees. 6.   If the seller is entitled to receive any proceeds from a claim for damage to the property under aninsurance policy, including homeowners, lender placed, casualty, fire, flood, etc., or if the seller isentitled to receive other miscellaneous proceeds as defined in the Deed of Trust/Mortgage, theseproceeds must be disclosed before the short sale is closed. If we receive a check for insurance ormiscellaneous proceeds that were not previously disclosed, Litton Loan Servicing LP will have theright to apply the proceeds to the loss after the short sale. Similarly, Litton will have the right toclaim the proceeds to offset its losses if the proceeds were not previously disclosed and were sentdirectly to the mortgagor.    7.   The seller shall also be responsible for any additional costs and fees over the aforementionedapproved amounts. As permitted by state law, recording fees and/or release fees are the responsibility of the buyer. 8.   Litton will provide a Satisfaction of Debt within the statutory time limit governed by the property state.   9.   The closing agent must provide Litton with a copy of the final HUD-1 Settlement Statement at least24 hours prior to closing for final approval.The closing agent must send a copy of the wire confirmation immediately following the closing along with a copy of thefinal fully executed HUD-1 Settlement Statement to the email address indicated below or by fax to 972-653-6389.   Wiring Information* Bank Name: Chase Bank City, State: Houston, TexasName: LLSLP-RCA ACQABA #Account #:Attention: Short Sale Department *Be sure to reference the short sale and loan number on the wire transfer. Litton may be required to report this transaction to the IRS. We recommend that you discuss this matter with a taxprofessional. Your loan will be reported to the credit bureau as “account settled.”   Should you have questions, please contact me at (800) 999-8501, extension 7464, or Aaron.Lawrence@littonloan.com.   Sincerely,Short Sale Department Doc ID 1402.0001.011310164304
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