Common use of Permanent Relief Clause in Contracts

Permanent Relief. based on borrower’s inability to make payments at the current payment amount and/or rate of interest · The hardship must be permanent (i.e. reduction of income, medical, etc) · Offer new *** year term and/or lower interest rate · Must be current with 1st Mortgage · Income vs. Expenses at or Less than *** Sub Performing *** All Sub-Performing Loans- the following sequence will be used when dealing with current borrowers:

Permanent Relief. based on borrower’s inability to make payments at the current payment amount and/or rate of interest · The hardship must be permanent (i.e. reduction of income, medical, etc) · Offer new *** year term and/or lower interest rate · Must be current with 1st Mortgage · Income vs. Expenses at or Less than *** Sub Performing *** All Sub-Performing Loans- the following sequence will be used when dealing with current borrowers:· Current on 1st Mortgage

Permanent Relief. based on borrower’s inability to make payments at the current payment amount and/or rate of interest · • The hardship must be permanent (i.e. reduction of income, medical, etc) · • Offer new *** year term and/or lower interest rate · • Must be current with 1st Mortgage · • Income vs. Expenses at or Less than *** Sub Performing *** All Sub-Performing Loans- the following sequence will be used when dealing with current borrowers:

Permanent Relief. based on borrower’s inability to make payments at the current payment amount and/or rate of interest · • The hardship must be permanent (i.e. reduction of income, medical, etc) · • Offer new *** year term and/or lower interest rate · • Must be current with 1st Mortgage · • Income vs. Expenses at or Less than *** Sub Performing *** All Sub-Performing Loans- the following sequence will be used when dealing with current borrowers:• Current on 1st Mortgage