Having Trouble Making Your Mortgage Payment?
We may be able to assist you—our goal is to help you stay in your home.
Need Mortgage Assistance? We’re here to help
We understand that difficult financial times can happen to anyone, and for many different reasons. If you are having trouble making your mortgage payment and want to avoid foreclosure, we may be able to help you. We have a number of options available to members experiencing hardships, and you may qualify for one of these. The sooner you contact us, the more options we have, so please reach out in the way that’s easiest for you: by phone or by completing the Mortgage Assistance Application.
Download a Mortgage Assistance Application
You can request help with your mortgage payments by submitting a Mortgage Assistance Application. A member of the myCUmortgage team will work with you on processing your submitted Mortgage Assistance Application. If you are unable to access the application or have questions, please call us at 877.912.8006.
Download a Mortgage Assistance Application here.
Call us
You’re also welcome to call us at 877.912.8006. Our myCUmortgage experts are available Monday-Friday, 8 AM-8 PM ET, and Saturday, 9 AM-1 PM ET.
Federal assistance
You may also call the Housing and Urban Development office at 800.569.4287 or use the following link to find a HUD certified counseling agency: https://apps.hud.gov/offices/hsg/sfh/hcc/hcs.cfm
BEWARE OF HARDSHIP RESCUE SCAMS
If you receive an offer, information or advice about a hardship rescue that sounds too good to be true, it probably is. Please read this helpful information on how to spot and report a hardship rescue scam
AVAILABLE OPTIONS
It’s always good to have options, especially in challenging times. We have several options available for members experiencing hardships. You may qualify for one of these.
Options if you want to stay in your home:
This allows you to reduce or suspend payments for a short time and then bring your loan current. A forbearance plan may be combined with a reinstatement when you know that you will have enough funds to bring your loan current at a later date, such as a tax refund, insurance settlement or an investment reaching its maturity date.
This is an agreement to resume making your regular monthly payments plus a portion of the past due amount each month until you bring your home loan current.
If you are able to make a portion of your monthly payment but unable to bring your home loan current, a modification may be used to change the terms of your loan permanently to make the monthly payments more affordable. These changes may include one or more of the following: adding the missed payments to the loan balance, reducing the interest rate or extending the remaining term of your loan.
Based on investor guidelines, the delinquent monthly principal and interest payments, as well as advances made on your behalf related to the delinquency, are moved to a non-interest bearing balloon payment. The balloon amount must be repaid upon maturity or earlier upon the sale or transfer of the property, refinance of the mortgage loan, or payoff of the interest-bearing principal balance.
Options available if you no longer want to stay in your home:
This is the sale of your property for an amount that is less than you currently owe on your mortgage. The sale amount is based on the market value of the property.
An agreement for you to transfer the deed of the property back to us to avoid foreclosure.
Hardship Relief Frequently Asked Questions
When you are having trouble making your mortgage payment, myCUmortgage Member Assistance is here to help. Here are the answers to frequently asked questions to provide you with information, then feel free to reach out to us at 877.912.8006. The sooner you contact us, the more options you may have.
We also encourage you to review the warning signs of hardship rescue scams
A: If you are experiencing a financial hardship, it is best that you contact us, myCUmortgage, and make us aware. We may have options available that can help you through the hardship. To speak with a Member Assistance expert please call 877.912.8006.
A: Upon receipt of a completed Loss Mitigation Application myCUmortgage will complete a review and provide you with our decision within thirty (30) calendar days.
A: No. There is no fee to obtain assistance or information about foreclosure prevention options from myCUmortgage or a qualified housing finance agency. You should never send a mortgage payment to a company except the one listed on your monthly mortgage statement.
A: myCUmortgage is obligated to report accurate payment performance to the credit reporting agencies under the Fair Credit Reporting Act (FCRA). During the review process and subsequent performance on any offered option, myCUmortgage will continue to report as required.
A: Yes, if you signed the Note and Mortgage, you are still liable for the payments.
A: Foreclosure is the loss of your home through a legal process where your mortgage servicer or a third party acquires the property at a foreclosure sale.
A: You must move, or you will be evicted from the property, and it may be as long as seven years before you are eligible for another mortgage. Additionally, you and any additional borrower listed on the mortgage may experience negative credit implications.
A: Yes, the sooner the better! If you wish to keep your home, contact us at 877.912.8006 immediately. You may also contact a HUD-approved (HUD means the U.S. Department of Housing and Urban Development) housing counselor (see Federal Assistance) and request a three-way call that would include you, the HUD-approved housing counselor, and your mortgage servicer to discuss your hardship.
A: Yes, but it is important that you reach out to us as soon as possible to discuss potential options. If we receive your complete Mortgage Assistance Application with only 37 or fewer calendar days before the scheduled foreclosure sale, there is no guarantee that we will be able to evaluate you for mortgage assistance in time to stop the foreclosure sale. Even if we approve you for a foreclosure alternative prior to a sale, a court with jurisdiction over the foreclosure proceeding (if any) or public official charged with carrying out the sale may not be able to halt the scheduled sale.
A: No. Your property will not be sold at a foreclosure sale if you accept a foreclosure avoidance option and comply with its requirements.
A: You should contact us as soon as possible. We are here to help you adjust to these events and provide you with information on where to send the mortgage payments. Please contact us at 877.912.8006 to obtain a list of documentation that is needed to confirm your identity and ownership interest in the property, and to discuss next steps.
A: Please review information on Beware of Foreclosure Rescue Scams including how to spot a scam and how to report a scam.
NOTE: myCUmortgage, LLC, is required by the Fair Debt Collection Practices Act to inform you that if your mortgage is currently past due, as your loan servicer, we will be attempting to collect a debt and any information obtained will be used for that purpose. If you have filed for bankruptcy you are entitled to certain protections under federal law, including the automatic stay. myCUmortgage is committed to respecting your rights and will not attempt to collect a debt from any individual protected by the U.S. Bankruptcy Code. Any action taken by myCUmortgage is for the sole purpose of protecting our lien interest in your property and is not to recover any amounts from you personally.
877.912.8006
937.912.7184
Member Care Hours:
Mon.-Fri., 8AM-8PM ET
Sat., 9AM-1PM ET
General Correspondence Address:
P.O. Box 341344
Beavercreek, OH 45434-1344