Homeowner Payment Accounting Form - New York State Banking Department printable pdf download

Homeowner Payment Accounting Form - New York State Banking Department

HOMEOWNER PAYMENT ACCOUNTING FORM

(As required by the Home Equity Theft Prevention Act, New York State Real Property Law, Section 265-a(11)(d))

Name of Homeowner (Equity Seller) in Foreclosure/Default: Name and Address of Equity Purchaser:

Date Evicted or Voluntary Relinquishment of Property:

Date of Covered Contract / Reconveyance Agreement:

Address of Property:

Name and Address of "Unaffiliated" Buyer:

Name and Address of Licensed Appraiser:

Settlement Agent:

Settlement Date:

Place of Settlement:

License Number:

Appraised Value:

Resale Price:

A. Fair market value of property (Complete line 1 or 2)

1. Fair market value from appraisal as of __________________ (enter date)

2. Resale amount to an "unaffiliated" third party

B. Minimum consideration paid to or on behalf of Equity Seller

Calculate 82% of the fair market value (Line A1 or Line A2 X .82)

C. Consideration paid on behalf of the Equity Seller

1. Unpaid lease payments owed by the Equity Seller prior to the date of eviction or voluntary

relinquishment of the property

2. Reasonable costs paid to third parties necessary to complete the reconveyance transaction

3. Payment of money to satisfy a debt or legal obligation of the Equity Seller

4. The reasonable cost of repairs for damage to the dwelling caused by the Equity Seller beyond

ordinary wear and tear

5. Total (Lines C1 + C2 + C3 + C4)

D. Consideration paid directly to Equity Seller(Must be at least Line B - Line C5)

Date of payment (if any) to Equity Seller:

I have provided a copy of this form, along with the

I have received a copy of this form, along with the

supporting documents, to the Equity Seller.

supporting documents.

___________________________

_____________

_________________________

_____________

Equity Purchaser

Date

Equity Seller

Date

Please see Section 265-a(11)(d)(ii)(C)

*IMPORTANT: Please see instructions for more information on filling out this form

and for attaching supporting documents

Prepared By: The New York State Banking Department

Revision Date: Feb. 1, 2007

Homeowner Payment Accounting Form - New York State Banking Department

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