Property owners facing foreclosure have options. It's critical to know your options.

1. Avoid Foreclosure
Ty Leon-Guerrero
www.team1realty.com
Call : 800-533-7107

2. Property owners facing foreclosure have options. It's critical to know
your options.
• Modification Option
• Forbearance Option
• Short Sale Option
Ty Leon-Guerrero
www.team1realty.com
Call : 800-533-7107

3. Modification Option
This is an option that may allow you to reach an agreement with your
mortgage lender to change some or all original terms and conditions of
your mortgage, such as reducing your monthly payment to a more
affordable amount, length of loan term, interest rate and in some cases
your lender may reduce your principal balance.
Ty Leon-Guerrero
www.team1realty.com
Call : 800-533-7107

4. Modification Option
This is may be an option if:
• You are not eligible to refinance.
• You are facing long-term financial hardship.
• You are several months behind on your mortgage payments or likely
to fall behind soon.
Ty Leon-Guerrero
www.team1realty.com
Call : 800-533-7107

5. Forbearance Option
• This option temporarily suspends or reduces you monthly mortgage
payments for a determined period of time.
• This is an agreement made between you and your lender.
• “Forbearance” allows you to deal with your short-term financial
difficulties, it provides you with some time to get back on your feet
and bring your payments up to date.
Ty Leon-Guerrero
www.team1realty.com
Call : 800-533-7107

6. Forbearance Option
Forbearance may be an option if:
• You are not eligible or wish not to refinance.
• You are facing short-term financial difficulties.
• You are several months behind on your mortgage payments.
Ty Leon-Guerrero
www.team1realty.com
Call : 800-533-7107

7. Don’t Run Out Of Time
• If you default on your loan and don’t work out a plan of resolution
with your lender, the lender will take the necessary steps to schedule
a public foreclosure auction of your property.
• In some cases countdown to the auction is less than 30 days.
Ty Leon-Guerrero
www.team1realty.com
Call : 800-533-7107

8. Don’t Run Out Of Time
• It is critical that you understand exactly how much time you have
before you loose your home.
• A Tangible deadline will help you set goals, find the right resource for
you with the help of a professional you trust and take control of the
situation.
• Remember, the longer you wait, the fewer are the options that you
will find.
Ty Leon-Guerrero
www.team1realty.com
Call : 800-533-7107

9. Don’t Run Out Of Time
• Contact your mortgage lender to find out the status of your situation
and discuss options.
• If you feel you are getting nowhere with your lender, seek other
resources.
• The worst thing you can do is DOING NOTHING about your situation.
Ty Leon-Guerrero
www.team1realty.com
Call : 800-533-7107

10. Short Sale Option
• This transaction is carried out by a REAL ESTATE AGENT.
• Your mortgage lender agrees to discount a loan balance because of
economic or financial difficulties on the part of the homeowner.
• The homeowner sells the mortgage property for less than the
outstanding balance of the loan, and turns over the proceeds of the
sale to the lender.
Ty Leon-Guerrero
www.team1realty.com
Call : 800-533-7107

11. Short Sale Option
• Doing a SHORT SALE is simply the most economical solution for a
homeowner who cannot afford the mortgage payment anymore.
• It is much more beneficial to do a SHORT SALE versus just letting a
property go into FORECLOSURE (which is likely to have very serious
and negative consequences).
Ty Leon-Guerrero
www.team1realty.com
Call : 800-533-7107

12. Contact Ty Leon-Guerrero
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Alameda, Contra Costa, Sonoma, Solano, Napa Counties
Fairfield, CA 94533
Call Us : 800-533-7107
www.team1realty.com