Avoiding Foreclosure

If you are having difficulty making your mortgage or home equity payments, and want to avoid foreclosure, ACU can assist you with finding options that may be available to you.

  • You may be able to refinance your loan, extending the repayment period, and/or reducing the interest, thereby lowering the payments
  • ACU may be able to modify your loan, to make your payments affordable
  • ACU may be able to provide you with special forbearance, in light of your current circumstances
  • You may be able to sell your home and repay the mortgage/home equity loan in its entirety; if your home’s value is less than your outstanding loan balance ACU may be willing to accept less money that you owe and develop a repayment plan for the remaining amounts due

ACU is willing to explore every possible option but please don’t wait. Contact us as soon as you realize you are having difficulty making your payments.

Contact ACU at toll-free 1.866.968.7128. In order for us to evaluate your eligibility for these options, please have the following information at hand:

  • Hardship letter explaining why you are unable to make your payments
  • Verification of all household income
  • Recent statements from all credit union, bank or brokerage accounts
  • Most recent IRS tax return and all supporting documentation
  • Property tax statement
  • Detailed list of all your expenses, loans, and bills

You may be required to provide additional documentation depending on your situation.

You may contact the office of Housing and Urban Development (HUD) at 1.800.569.4287 to find a certified housing counseling agency.