[Name
Address]
Via Certified Mail (Return Receipt Requested) Loan ID #:
Regarding Note and Deed of Trust held by
Secured by property located at:
Dear Borrower:
Your loan is in default as a result of your breach of the Note and Deed of Trust referenced above.
The Deed of Trust provides that the lender must give certain notice to the borrower prior to acceleration and that the lender shall be entitled to collect all reasonable costs incurred in pursuing the remedies provided. As the lender, we hereby give you notice of the following:
1. Said Note and Deed of Trust are in default as a result of your failure to make the monthly payments. Our records indicate that your account is past due for and subsequent payments;
2. To cure the default, you must pay the past due installments in the amount of ___________________ plus accrued interest, late charges, and other authorized expenses;
3. You must cure the default on or before _____________________ by ______ pm (21 days from the date this letter is sent or if the date falls on a Saturday, Sunday or a national holiday, by the next business day);
4. Your failure to cure the default on or before the date and time specified in Paragraph No. 3 above may result in a mandatory reinstatement fee of $__________ payable immediately for the acceleration of the sums secured by said Deed of Trust, and a Foreclosure sale of your property, as well as other remedies available to the lender.
All funds must be in the form of a cashier’s check or certified funds. We have the right to reject tender of less than the full amount necessary to bring your loan current.
If you do not pay the amount due by the date indicated above, the lender has the right to demand immediate payment in full of all sums secured by the Deed of Trust and may invoke the power of sale granted by you and any other remedies permitted by applicable law.
All claims and demands regarding the indebtedness described in this letter, whenever made, and whether for principal, interest or otherwise (including amounts due under any guaranty), are intended to comply with all respects with applicable usury law, and are accordingly limited so that applicable usury laws are not violated.
Si usted no lee ingles, debe
llevar esta carta a un abogado o alguin
posible. Usted va a perder su
propiedad si no toma la cción
Sincerely
[Name
Address]
cc: Regular Mail