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Joe Zaky
Sierra Vista
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(520) 234-6470
JZaky@
LongRealty.com
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Trouble Making Payments?
Alternatives to Foreclosure

Options To Keep Your Home

(Depends entirely on the investor)

The following summarizes solutions that allow the homeowner to keep their home. All of these solutions 
require a thorough analysis of the homeowner’s income and expenses.

Refinance - A new mortgage on the loan with no change in ownership. The ability to refinance a loan
requires that the borrower not be delinquent and that there be equity in the home.

Repayment Plan – Plan where delinquent payments are distributed over a period of time, usually no more
than12 months. The monthly amount is added to usual mortgage payment resulting in a higher payment
until the delinquent amount has been repaid. This repayment plan brings the account up-to-date within a
specified time frame.

Loan Modification - Past-due interest and escrow to the unpaid principal balance, which is then re-amortized 
over a new term. Rate adjustments, term extensions, and principal forgiveness may be considered. Loan
modification results in permanent, contractual changes in one or more mortgage terms. Additional loan fees
may be involved, based on the type of the mortgage a customer holds and on the specific investor. A loan
modification immediately brings the account up-to-date.

Forbearance – A temporary reduction or suspension of a borrower’s payment The repayment plan is based 
upon the customer’s financial situation. Because of long-term implications, this option is used only in severe 
hardship cases.


IMPORTANT NOTICE: Long Realty Company is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer 
and use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit rating. Homeowner acknowledges 
that Broker/Agent is not qualified to provide financial, legal, or tax advice. Therefore, the Seller is advised to obtain professional tax advice and consult independent 
legal
 counsel immediately regarding the tax implications and advisability of entering into a short sale agreement. Long Realty Company does not charge an additional fee or
commission for its Mortgage Assistance Relief services. However, upon the successful sale of your property a commission will be paid to Long Realty Company per the terms of your Listing Agreement.