Trust SDMCU to Help You Avoid Foreclosure
SDMCU wants to help you avoid foreclosure and stay in your home whenever possible. If you have an SDMCU mortgage loan and are unable to make your full monthly payment due to financial hardship caused by these uncertain times, call us as soon as possible toll free at 888-907-3628 (888-90-SDMCU), option 4 or 619-278-5875 and ask to speak with Brian Dutra, our Real Estate Accounts Representative.
We have options available to help you
We have several real estate modification and refinancing plans available that may reduce your monthly payment temporarily or for the full term of your loan if you qualify. These options include:
- Loan modification. Loan modification changes the terms of your loan agreement to reduce your monthly payment.
- Loan Refinance. Refinancing your existing loan into a new product that could reduce your payments.
- Interest-Only Payments. If you’re making principal plus interest payments on your loan, we may be able to reduce your payment to interest-only to lower what you’re paying each month.
- Loan Payment Deferment. You may be able to skip a few payments now while you’re getting your finances back on track.
Once you’ve contacted us about your loan, we’ll arrange a telephone or in-person meeting to discuss your unique financial situation and to determine which option best meets your needs. To help us understand your circumstances, please be prepared to provide:
- A written explanation of your situation and how you would like us to help;
- A recent pay stub or your most recent tax return and proof of any other income you may receive;
- A detailed account of your monthly expenses; and,
- An updated loan application and current credit information.
We may ask for additional information as determined by your situation.
The United States Department of Housing and Urban Development (HUD) offers free and low-cost housing counseling. You can contact HUD toll-free at 800-569-4287
or on the web at www.hud.gov