Who is eligible to join?
Why join Certified Federal CU?
Who is eligible to join?
Why join Certified Federal CU?
The sooner you take action, the more options you will have to avoid a foreclosure action on your property. A formal foreclosure will damage your credit rating, negatively impacting your ability to borrow money in the future.
Repayment Plan – The lender may agree to give you a fixed amount of time to repay the amount you are behind by combining a portion of what is past due with your regular monthly payment. At the end of the repayment period you will have gradually paid back the amount of your mortgage that was delinquent.
Forbearance – The lender may allow reduced or suspended payments for a short period of time, after which another option will be agreed upon to bring the loan current. A forbearance option is often combined with a repayment plan or modification to bring the account current at a specific time.
We partner with BALANCE, a financial education and counseling service that offers free, confidential counseling to help individuals and families get back on track with their bills. A BALANCE counselor can go over your income and expenses and offer options for dealing with your debt. The best time to deal with your finances is before they become a problem. We encourage you to take advantage of this opportunity to go over your situation with a professional. Your call to BALANCE is free. For more information, or to schedule an appointment, call 888.456.2227, Monday through Thursday, 5:00am to 8:00pm (PST), Friday, 5:00am to 5:00pm and Saturday, 8:00am to 5:00pm.
You can find a credit counseling agency in your local phone book or by contacting the U.S. Department of Housing and Urban Development (HUD) at 800.569.4287 on weekdays between 9:00am and 5:00pm Eastern time.
