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Convectional vs FHA vs VA Mortgage Ty Leon Guerrero of Team1Realty
Convectional vs FHA vs VA Mortgage Ty Leon Guerrero of Team1Realty
Convectional vs FHA vs VA Mortgage Ty Leon Guerrero of Team1Realty
Convectional vs FHA vs VA Mortgage Ty Leon Guerrero of Team1Realty
Convectional vs FHA vs VA Mortgage Ty Leon Guerrero of Team1Realty
Convectional vs FHA vs VA Mortgage Ty Leon Guerrero of Team1Realty
Convectional vs FHA vs VA Mortgage Ty Leon Guerrero of Team1Realty
Convectional vs FHA vs VA Mortgage Ty Leon Guerrero of Team1Realty
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Convectional vs FHA vs VA Mortgage Ty Leon Guerrero of Team1Realty

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Convectional vs FHA vs VA Mortgage - Team1Realty. Team1realty.com is your Home and Land Specialist. Search all MLS real estate homes for sale in Solano County, Napa County, Contra Costa County, …

Convectional vs FHA vs VA Mortgage - Team1Realty. Team1realty.com is your Home and Land Specialist. Search all MLS real estate homes for sale in Solano County, Napa County, Contra Costa County, Sonoma County, Sacramento County plus foreclosures, condos and short sale listings, stop foreclosure, avoid foreclosure, short sale help.

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  • 1. Convectional vsFHA Mortgage vs VA Mortgage Ty Leon-Guerrero www.team1realty.com Call : 800-533-7107
  • 2. Conventional Mortgage - Repayment PlanAllows you to make a regular full payment plus a portion of the delinquencyeach month over a period of months to cure the delinquency.FHA Mortgage - Repayment PlanAllows you to make a regular full payment plus a portion of the delinquencyeach month over a period of months to cure the delinquency.VA Mortgage - Repayment PlanAllows you to make a regular full payment plus a portion of the delinquencyeach month over a period of months to cure the delinquency. Ty Leon-Guerrero www.team1realty.com Call : 800-533-7107
  • 3. Conventional Mortgage - Loan ModificationA lender may consider adding the delinquent amount to your principalbalance, which may reinstate your loan. A change in interest rate and/or theloan term may also be considered.FHA Mortgage - Loan ModificationThe delinquency amount is added to your principal balance, which may resultin fully reinstating your loan. A change in interest rate and/or the loan termmay also be considered. Late, foreclosure, attorney fees may be waived.VA Mortgage - Loan ModificationThe delinquency is added to your loan balance in order to bring your loancurrent. The interest rate and terms may be modified. Ty Leon-Guerrero www.team1realty.com Call : 800-533-7107
  • 4. Conventional Mortgage - ForbearanceSuspended or partial payments for a short period of time followed byrepayment plan, modification, reinstatement, or full pay off. You must proveyour hardship is temporary and will resume ability to pay mortgage.FHA Mortgage - ForbearanceSuspended or partial payments for a short period of time followed byrepayment plan, modification, reinstatement, or full pay off. You must proveyour hardship is temporary and will resume ability to pay mortgage.VA Mortgage - Forbearance/Repayment ScheduleAllows the repayment of part of the delinquency each month along with yourregular mortgage payment. If you are temporarily unable to meet yourmortgage payment, suspended or partial payments may be accepted until youhave the ability to resume the payment schedule. Ty Leon-Guerrero www.team1realty.com Call : 800-533-7107
  • 5. Conventional Mortgage - Short Sale/Pre foreclosure saleAllows the borrower to sell the house and use the proceeds to satisfy themortgage debt even if the proceeds are less than the amount owed.FHA Mortgage - Partial ClaimYour lender may work with you to obtain a one-time payment from theFHA-Insurance Fund to reinstate your loan. You must be at least 4 monthsdelinquent and able to make full mortgage payments. You will execute apromissory note & subordinate mortgage payable to HUD. This note carries nointerest & is payable at time of home sale or refinance.VA Mortgage - RefundingIf you have the ability to make mortgage payments or will have the ability inthe future, but your lender has decided it cannot extend further forbearanceor a repayment plan, VA may buy a loan from the lender and take over theservice. Ty Leon-Guerrero www.team1realty.com Call : 800-533-7107
  • 6. Conventional Mortgage - Deed-in-lieu of foreclosureIf you are not eligible or failed at other Loss Mitigation Tools, including a ShortSale, you could voluntarily deed or surrender your property to HUD inexchange for a release from all obligations under the mortgage.FHA Mortgage - Short Sale/Pre foreclosure saleAllows the borrower to sell the house and use the proceeds to satisfy themortgage debt even if the proceeds are less than the amount owed.VA Mortgage – Deed-in-lieu of foreclosureIf there are no liens on the property and VA agrees, you will sign legal documentsto make VA the owner of your property. VA will have to pay your lender a claimfor the difference between the value of your home and the mortgage balance. If adeed is accepted, you may be released from further liability or asked to repay thegovernment for all or part of the claim VA paid. Ty Leon-Guerrero www.team1realty.com Call : 800-533-7107
  • 7. Conventional MortgageLender participation is voluntary. These programs are subject to lender/serviceapproval. Lenders are not mandated to provide these options. Each lender hasqualifying criteria a borrower must meet before they will consider offeringthese Loss Mitigation Tools. Please contact your lender for a workout packet toapply for delinquency.FHA Mortgage - Short Sale/Pre foreclosure saleIf you are not eligible or failed at other Loss Mitigation Tools, including a ShortSale, you could voluntarily deed or surrender your property to HUD inexchange for a release from all obligations under the mortgage. There must beno liens on the property. Ty Leon-Guerrero www.team1realty.com Call : 800-533-7107
  • 8. Contact Ty Leon-Guerrero Twitter Facebook LinkedIn Alameda, Contra Costa, Sonoma, Solano, Napa Counties Fairfield, CA 94533 Call Us : 800-533-7107 www.team1realty.com

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