Event 23 Sample Letters |
  
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Navigation: Appendix A - Merge Field Descriptions (Loans) > Event 23, Delinquency Event >
Event 23 Sample Letters |
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See the following examples of different delinquency letters:
For Bi-Weekly Loans
<<EVENT_DATE>>
<<ACCOUNT_FIRST_MIDDLE_LAST_NAME_1>> <<ACCOUNT_FIRST_MIDDLE_LAST_NAME_2>> <<MAIL_ADDRESS_LINE1>> <<MAIL_ADDRESS_CITY_STATE_ZIP>>
RE: Loan No. <<FORMATTED_LOAN_NUMBER>>
Dear Borrower(s):
According to the terms of your Note, you are to maintain an account with sufficient funds to pay the full amount of each bi-weekly payment on its due date. Our records indicate that your loan, referenced above, is seriously delinquent.
TOTAL PAYMENTS DUE: $<<TOTAL_PAYMENTS_DUE>> LATE CHARGES DUE: $<<LATE_CHARGES>>
TOTAL AMOUNT DUE: $<<TOTAL_PMTS_WITH_LATE_CHARGES>>
Payments and late charges which become due after the date of this letter must also be included.
It is imperative that an immediate deposit be made into the designated account to cure your default. Failure to cure said default by <<APPOINTMENT_DATE>> may result in the immediate termination of the bi-weekly payments according to the terms of your note.
If you have any questions regarding this matter, please do not hesitate to call our Loan Service Department at (555) 555-5555.
Sincerely,
Jane Doe Loan Service Representative
E23/L## |
Foreclosure
NOTICE OF INTENT TO BEGIN FORECLOSURE
<<EVENT_DATE>>
<<ACCOUNT_FIRST_MIDDLE_LAST_NAME_1>> <<ACCOUNT_FIRST_MIDDLE_LAST_NAME_2>> <<MAIL_ADDRESS_LINE1>> <<MAIL_ADDRESS_CITY_STATE_ZIP>>
Re: Loan no. <<FORMATTED_LOAN_NUMBER>>
Dear Borrower(s):
Our records reflect that your loan of $<<PRINCIPAL_BALANCE>>, plus interest thereon became due and payable on <<MATURITY_DATE_ALPHA>>. The total amount due must be paid by CERTIFIED FUNDS no later than <<APPOINTMENT_DATE>>. Partial amounts will not be accepted.
If your loan is not paid off, we will instruct our Trustee to proceed in filing a Notice of Default and may invoke the power of sale and any other remedies permitted by applicable law without further notification to you.
After the Notice of Default is filed, you have three months to pay off the balance, interest, Trustee’s fees and other costs by CERTIFIED FUNDS. After the three-month period, the Association has the right to cause a Trustee’s sale to be scheduled and held sometime subsequent to the expiration of twenty-one (21) days from the publication of the Notice of Trustee’s Sale.
You have the right to file court action to assert the non-existence of a default or any other defense to the acceleration of your loan and sale of your property.
It is imperative you contact us immediately to verify the amount due to pay off your loan. Please call our Loan Service Department at (555) 555-5555.
Sincerely,
Delinquency Counselor
E23/L## |
Foreclosure
<<EVENT_DATE>>
<<ACCOUNT_FIRST_MIDDLE_LAST_NAME_1>> <<ACCOUNT_FIRST_MIDDLE_LAST_NAME_2>> <<MAIL_ADDRESS_LINE1>> <<MAIL_ADDRESS_CITY_STATE_ZIP>>
PROPERTY ADDRESS: <<PROPERTY_ADDRESS_LINE1>> <<PROPERTY_ADDRESS_CITY_STATE_ZIP>>
Re: Loan No. <<FORMATTED_LOAN_NUMBER>>
Dear Borrower(s):
You have failed to meet the terms of payment on your loan and, as a result, your loan has been placed in foreclosure.
After the Notice of Default is filed, there is a three-month redemption period in which there will be Trustee’s fees that are due in addition to your delinquent payments, late charges and other fees. After the three-month redemption period, the association has the right to cause a Trustee’s sale to be scheduled and held sometime subsequent to the expiration of twenty-one (21) days from the date of the publication of the Notice of the Trustee’s Sale.
If you intend to bring your loan current, please contact our office for the amount needed, which must be paid by CERTIFIED FUNDS ONLY.
If you have any other questions regarding this matter, please call our Loan Service Department at (555) 555-5555.
Sincerely,
Jane Doe Delinquency Counselor
E23/L## |
Negative Credit Report
<<EVENT_DATE>>
<<ACCOUNT_FIRST_MIDDLE_LAST_NAME_1>> <<ACCOUNT_FIRST_MIDDLE_LAST_NAME_2>> <<MAIL_ADDRESS_LINE1>> <<MAIL_ADDRESS_CITY_STATE_ZIP>>
Dear Borrowers:
We at GOLDPoint Systems Finance Company are concerned that your loan payment is now thirty (30) days delinquent.
As required by law, you are hereby notified that a negative credit report reflecting on your credit record may be submitted to a credit reporting agency if you fail to fulfill the terms of your credit obligations.
As you are aware, your payments are to be made regularly each month on your scheduled due date. The following amounts are due at this time.
We are sure you want to bring your account current and avoid additional delinquency costs. If your account remains delinquent for ninety (90) days, we may be required to proceed with foreclosure or other legal action.
Please contact me immediately to resolve this matter.
Sincerely,
John Doe Collections Department
E23/L## |
Payment Past Due/Late Charge
CERTIFIED MAIL RETURN RECEIPT REQUESTED
<<EVENT_DATE>>
<<ACCOUNT_FIRST_MIDDLE_LAST_NAME_1>> <<ACCOUNT_FIRST_MIDDLE_LAST_NAME_2>> <<ACCOUNT_FIRST_MIDDLE_LAST_NAME_3>> <<ACCOUNT_FIRST_MIDDLE_LAST_NAME_4>> <<MAIL_ADDRESS_LINE1>> <<MAIL_ADDRESS_LINE2>> <<MAIL_ADDRESS_CITY_STATE_ZIP>>
Dear Customer:
Your loan remains delinquent for the payments that were due beginning <<DUE_DATE_ALPHA>>. The total amount due, including late charges, is <<TOTAL_DUE>>.
Demand is hereby made upon you to pay GOLDPoint Systems Finance Company within seven (7) days from the date hereof. All delinquent installments on or before Month X, 200X should be made to the attention of Jane Doe, Loan Officer, 1525 West 820 North, Provo, Utah 84601.
You are further notified that failure to pay the delinquent installments as demanded within the time prescribed, will result in GOLDPoint Systems Finance Company taking whatever legal action is deemed necessary to protect its interest as set forth in the Promissory Note dated <<DATE_OPENED_ALPHA>>.
Sincerely,
Jane Doe Loan Officer
E23/L## |
Payment Past Due
<<EVENT_DATE>>
<<ACCOUNT_FIRST_MIDDLE_LAST_NAME_1>> <<ACCOUNT_FIRST_MIDDLE_LAST_NAME_2>> <<ACCOUNT_FIRST_MIDDLE_LAST_NAME_3>> <<ACCOUNT_FIRST_MIDDLE_LAST_NAME_4>> <<MAIL_ADDRESS_LINE1>> <<MAIL_ADDRESS_LINE2>> <<MAIL_ADDRESS_CITY_STATE_ZIP>>
Dear Customer:
Your loan remains delinquent for the payments that were due beginning <<DUE_DATE_ALPHA>>.
Unless we receive your remittance for the entire amount due on or before Month X, 200X, we will assign this matter of collection to our attorneys for legal action as outlined in our Promissory note.
If your loan is turned over to an attorney for collection, it will be necessary that you pay all attorney fees incurred in that process.
Please see that your loan is brought current prior to the above date to avoid the action outlined.
If you wish to communicate with us about this matter, please phone our office at (555) 555-5555 between the hours of #:## am and #:## pm, Monday through Friday.
Sincerely,
John Doe Loan Officer
E23/L## |
Payment Past Due/Late Charges
<<EVENT_DATE>>
<<ACCOUNT_FIRST_MIDDLE_LAST_NAME_1>> <<ACCOUNT_FIRST_MIDDLE_LAST_NAME_2>> <<ACCOUNT_FIRST_MIDDLE_LAST_NAME_3>> <<ACCOUNT_FIRST_MIDDLE_LAST_NAME_4>> <<MAIL_ADDRESS_LINE1>> <<MAIL_ADDRESS_LINE2>> <<MAIL_ADDRESS_CITY_STATE_ZIP>>
Dear Customer:
Your payment on this loan is due as follows:
____________________
Payments are due on the first of each month, and late charges are assessed for payments received after the 15th.
Please send the total amount due promptly to avoid any additional charges.
If you have any questions, please call us at (555) 555-5555.
Loan Servicing Department
E24/L## |
Promissory Note in Default
<<EVENT_DATE>>
<<ACCOUNT_FIRST_MIDDLE_LAST_NAME_1>> <<ACCOUNT_FIRST_MIDDLE_LAST_NAME_2>> <<MAIL_ADDRESS_LINE1>> <<MAIL_ADDRESS_LINE2>> <<MAIL_ADDRESS_CITY_STATE_ZIP>>
Dear Customer:
You are hereby notified that the above referenced promissory note is in default due to your failure to pay the required monthly installments of <<TOTAL_PAYMENTS_DUE>>. The note is presently three (3) months delinquent, as you have failed to make the payment due on <<DUE_DATE_ALPHA>>, and the payment due for each monththereafter. GOLDPoint Systems Finance Company does hereby accelerate all remaining installments and calls the entire note due and payable.
Demand is hereby made upon you to pay GOLDPoint Systems Finance Company within ten (10) days from the date hereof the entire note balance of <<TOTAL_DUE_TO_BALLOON_OR_MATURITY>>. Your payment of this note on or before Month X, 200X should be made to the attention of Mr. John Doe, Loan Officer at GOLDPoint Systems Finance Company, 1525 West 820 North, Provo, Utah 84601.
If the matured note remains unpaid at the close of the business day on Month X, 200X, then it will be necessary for you to deliver to GOLDPoint Systems Finance Company the collateral securing this note which is:
LOAN ITEM(S)
Your failure to deliver the collateral to the association will result in GOLDPoint Systems Finance Company taking whatever legal action is deemed necessary to protect its interest including repossession and the sale of the collateral and filing suit for any deficiency balance due on the note, plus interest and late charges accrued thereon, together with all reasonable attorney’s fees and court costs as provided in the note.
Sincerely,
John Doe Loan Officer
E23/L## |
Property Taxes
<<EVENT_DATE>>
NOTICE OF INTENT TO BEGIN FORECLOSURE
<<ACCOUNT_FIRST_MIDDLE_LAST_NAME_1>> <<ACCOUNT_FIRST_MIDDLE_LAST_NAME_2>> <<MAIL_ADDRESS_LINE1>> <<MAIL_ADDRESS_LINE2>> <<MAIL_ADDRESS_CITY_STATE_ZIP>>
Re: Loan No. <<FORMATTED_LOAN_NUMBER>>
Property Address: <<PROPERTY_ADDRESS_LINE1>> <<PROPERTY_ADDRESS_CITY_STATE_ZIP>>
Dear Borrower(s):
Records received from the County Tax Assessor reflect the property taxes on your mobile home are seriously delinquent. According to your Security Agreement, you are required to pay promptly all taxes levied or assessed to said mobile home. Failure to meet terms places your loan in default and subject to foreclosure.
If these taxes are not paid and receipt evidencing such payment are not provided to us, in addition to all payments and late charges by <<APPOINTMENT_DATE>>, we will initiate foreclosure proceedings without further notification to you. Payments will not be accepted unless accompanied by proof your delinquent taxes have been paid.
AMOUNT OF PAYMENTS DUE: <<TOTAL_PAYMENTS_DUE>>
PAYMENTS AND LATE CHARGES WHICH BECOME DUE AFTER THE DATE OF THIS LETTER MUST ALSO BE PAID. PARTIAL AMOUNTS WILL NOT BE ACCEPTED. PAYMENT BY CERTIFIED FUND ONLY.
PARCEL NUMBER YR. OF DELINQUENCY AMT. TO REDEEM TO: ------------- ------------------ ------------------
If you have any questions regarding this matter, please call our Loan Service Department at (XXX) 555-5555 or TOLL FREE at (800) 555-5555.
Sincerely,
Jane Doe Delinquency Counselor E23/L## |
Property Taxes
NOTICE OF INTENT TO BEGIN FORECLOSURE
<<EVENT_DATE>>
<<ACCOUNT_FIRST_MIDDLE_LAST_NAME1>> <<ACCOUNT_FIRST_MIDDLE_LAST_NAME2>> <<MAIL_ADDRESS_LINE1>> <<MAIL_ADDRESS_CITY_STATE_ZIP>>
Re: Loan No. <<FORMATTED_LOAN_NUMBER>>
Dear Borrower(s):
Records received from the County Tax Assessor reflect your property taxes are seriously delinquent. According to your Deed of Trust, you are required to pay all taxes and assessment affecting your property. Failure to meet terms places your loan in default and subject to foreclosure.
If these taxes are not paid and receipt evidencing such payment is not provided to us by <<APPOINTMENT_DATE>>, we will instruct our Trustee to proceed in filing a Notice of Default and may invoke the power of sale and any other remedies permitted by applicable law. Payments and late charges which become due after the date of this letter must also be paid. Payments will not be accepted unless accompanied by proof that your delinquent taxes have been paid.
PARCEL NUMBER YR. OF DELINQUENCY AMT. TO REDEEM TO ------------- ------------------ ------------------
After the Notice of Default is filed, you may have the legal right to bring your loan in good standing by paying all of your past due payments plus permitted costs and expenses within the time permitted by law for reinstatement of your loan, normally five (5) business days prior to the date set for the sale of your property. No sale date may be set until three months from the date the Notice of Default is filed.
You have the right to file court action to assert the non-existence of a default or any other defense to the acceleration of your loan and sale of your property.
If you have any questions regarding this matter, please call our Loan Service Department at (555) 555-5555 or TOLL FREE at (800) 555-5555.
Sincerely,
Jane Doe Delinquency Counselor E23/L## |
Repossession
<<EVENT_DATE>>
NOTICE OF INTENT TO BEGIN FORECLOSURE
<<ACCOUNT_FIRST_MIDDLE_LAST_NAME_1>> <<ACCOUNT_FIRST_MIDDLE_LAST_NAME_2>> <<ACCOUNT_FIRST_MIDDLE_LAST_NAME_3>> <<ACCOUNT_FIRST_MIDDLE_LAST_NAME_4>> <<MAIL_ADDRESS_LINE1>> <<MAIL_ADDRESS_LINE2>> <<MAIL_ADDRESS_CITY_STATE_ZIP>>
Re: Loan No. <<FORMATTED_LOAN_NUMBER>>
Dear Customer,
You are hereby notified that the undersigned has taken possession of the security described in the security agreement executed by you to the undersigned dated X, a list of which is as follows:
Unless, on or before the X day of Month, 200x, payment is made of $X on your account, plus any collection or repossession expenses, said security will be sold on the X day of MONTH, 200x, at X a.m. at the following place to-wit:
GOLDPoint Systems Finance Company 1525 WEST 820 NORTH PROVO, UTAH 84601
The above described chattel sells for less than $###.##, plus all interest, collection fees and repossession expenses, as well as the amount now due on your note. You will be liable for any deficiency resulting from the sale.
GOLDPoint Systems Finance Company
By:
Certified Mail #xxx Return Receipt Requested E23/L## |