RE: Demand Settlement for Loan
Projected Settlement Date
Property Address

Wells Fargo Bank, N A approves the sale of the above referenced property This sale will result in a short payoff of the mortgage, and the mortgagors} acknowledge they waive any and all rights to any escrow balance, insurance proceeds or refunds from prepaid expenses. Neither the mortgagor nor any other party may receive any sale proceeds by any funds as a result of this transaction except as noted in this Demand Statement. As agreed, when we receive the sale proceeds and all required documentation, we will notify the credit bureau to reflect “agreed settlement short of full payment” which would appear on the credit report within. 60-90 days from the sale data and within 60-90 days from the date of notification and waive any deficiency rights, if applicable.

Sale approval details
This approval is based on the purchase contract between and purchase price of $ 95,200.00. The terms Of our approval and instruction to the Settlement Agent are as follows:

1. The required payoff is $ 88,336.36, scheduled for settlement on or before 02/28/11. Your contribution and settlement costs for this transaction are:

Mortgagor contribution:

Cash at Closing: 0.00
Promissory Note, 0.00

Approved Seller Closing Costs:
Real Estate Commission: 4,284.00
COUNTY TAX :455.24
TITLE INS 547.40
STATE TAX: 666.40

Back to Approval Letter 3

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