Avoid Foreclosure - Ty Leon Guerrero of Team1Realty serving Danville, Walnut Creek, Antioch, Pittsburg, Brentwood, Fairfield CA

Avoid Foreclosure

www.team1realty.comTy Leon-Guerrero Call : 800-533-7107

http://www.team1realty.com/


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

• Modification Option• Forbearance Option• Short Sale Option



Modification OptionThis 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.



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.

Modification Option


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.


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.

Forbearance Option


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.


• 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.

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.

Don’t Run Out Of Time


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.


• 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).

Short Sale Option

Fairfield, CA 94533

Call Us : 800-533-7107

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Real Estate

Avoid Foreclosure - Ty Leon Guerrero of Team1Realty serving Danville, Walnut Creek, Antioch, Pittsburg, Brentwood, Fairfield CA