HomeMy WebLinkAbout20002549.tiff RESOLUTION
RE: APPROVE SUBORDINATION AGREEMENT AND AUTHORIZE CHAIR TO SIGN -
ANGELINA GARZA
WHEREAS, the Board of County Commissioners of Weld County, Colorado, pursuant to
Colorado statute and the Weld County Home Rule Charter, is vested with the authority of
administering the affairs of Weld County, Colorado, and
WHEREAS, the Board has been presented with a Subordination Agreement from the
County of Weld, State of Colorado, by and through the Board of County Commissioners of
Weld County, on behalf of the Greeley/Weld County Housing Authority, for Angelina Garza, in
the favor of Countrywide Home Loans, with terms and conditions being as stated in said
agreement, and
WHEREAS, after review, the Board deems it advisable to approve said agreement, a
copy of which is attached hereto and incorporated herein by reference.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of
Weld County, Colorado, ex-officio Housing Authority Board, that the Subordination Agreement
from the County of Weld, State of Colorado, by and through the Board of County
Commissioners of Weld County, on behalf of the Greeley/Weld County Housing Authority, for
Angelina Garza, in the favor of Countrywide Home Loans be, and hereby is, approved.
BE IT FURTHER RESOLVED by the Board that the Chair be, and hereby is, authorized
to sign said agreement.
BE IT FURTHER RESOLVED by the Board that the Tom Teixeira, Director of
Greeley\Weld County Housing Authority, be, and hereby is, authorized to sign said agreement.
The above and foregoing Resolution was, on motion duly made and seconded, adopted
by the following vote on the 23rd day of October, A.D., 2000.
BOARD OF COUNTY COMMISSIONERS
WELD COUNTY, COLORADO
ATTEST: Ley �� /f � /A EXCUSED DATE OF SIGNING (AYE)
V arbara J. kmeyer, Chair
Weld County Clerk to the rIse.
.
BY:
Deputy Clerk to the Boat.`Q./ I XCUSED
♦ orge E. Baxter
APPROVED)AS TO FOR :
bale K. Hall
Canty Attorney1/1
Glenn Vaad `-
2000-2549
HA0020
I�nn' Countrywide
� I'� !!� HOME LOANS
2(ill OCT -6 `{}�I 22 33 WESTLAKE VILLAGE SHOPPING CENTER
2028 35TH AVENUE, SUITE B
GREELEY, COLORADO 80634-3926
(970) 339-0025 •
(970) 339-3507 FAX
October 4, 2000
High Plains Housing Authority l') DY
Attn: Jeanette Dalton 2000
315 N 11th Ave Bldg. B
Greeley CO 80631 H OF
THE CITY 0F Gail,
EY
Dear Jeanette:
Our client, Angelina T. Garza, would like to refinance her high interest rate mortgage
with Advanta to get a much better interest rate. However, she does have a loan with High
Plains Housing Authority on this property also. She is requesting that you subordinate
your loan to our new mortgage so that she can keep her low interest rate on her 2nd
mortgage. Ms. Garza will not be taking any cash out of her new loan.
Please let me know if you need any further information to process this request. Enclosed
is a letter from Ms. Garza as well as a letter from Advanta detailing the changes in her
loan. I can be reached at (970)339-0025 ext. 221.
Thank you, ��
Wendy Polul h (Q" ` n
d1
Countrywide Home Loans
2000-2549
NA00,20
; Oct -03 00 12: 11p •
PFC d CrediCheck (9701352 7972 p. 4
ADVANTR
Ad✓anta
Mortgage
P.O.Box 609011
San Diego. CA 92160-9011
70790 Rancho Bernardo Road
San ANGELINA T GARZA Diego, CA 92127
DATE: September 18, 2000
PO BOX 318
GILCREST CO 806230318
RE: LOAN NUMBER 11667391
Dear Borrower(s) ,
This is to inform you that since your last
e
date the Index upon which interest ai rate u
changed from 5 .250% to 6 . 7711:7-Thisnterest rate is calculated hasthat on 11/01/00 the change'in your -rndez -- -
thrtgaon loan will change einterest rate onmrate
the current your rate aofus9.300sable ratoo
12 . 300% . As a result of the change, your principal and interest
payment will adjust from $602 .38 to $756 . 23 per month, beginning
with your 12/01/00 payment .
This new payment amount does not include sums which may be due for
taxes and insurance . If your payment is subject to these charges,
they will be reflected in the new coupon book which you should
receive in the near future. Your estimated principal balance as
of 12/01/00 is $71, 380 . 37 assuming all payments due and owing have
been received.
The Index upon which adjustments to your interest rate are
currently made is The most recent Index figure available as of
this notification date is referred to as the Current Index. Your
rate is calculated by adding 8 .000 percentage points to the
Current
loan documents. TYour vloan may also alue may be obedsubject ed as tosarmaximumnandyour
/or
minimum interest rate as described in your loan documents.
If- you have
vaspecanyts qouestions concern,ing..this .rate adjustment, or any
(800) 548-7912 . Your loan, please contact Customer Service at
ARMLTR
Oct- 03 00 12: 1Op PFC b CrediCheck (970) 352-7972 p. 2
October 2, 2000
To Whom this letter may concern,
I Angelina Garza would like to refinare
my house. Due to the intrest rate
going up to 12.5%. Ply house payment
would go up to much that I could not
afford it. I am not getting any money
for the equity in my house. I just
want my intrest rate to be at a rate I
could afford.
Thank You,
Angelina Garza //
fee P�rC'IJP� �dr A '`�
Hello