Skip Payment Options
If you are experiences financial difficulties, we’re here to help. Your consumer loan(s) may qualify for a skip payment. Contact our Adjustments Team at 800-562-5611 ext.5367 to see if your loans qualify. Skip Payments have a $25 fee. The interest continues to accrue on your loan during the skipped month, and we’ll add the skipped month to the end of the loan.
If you are struggling to make your mortgage payments, please contact Red Canoe Credit Union as soon as possible. We may be able to help resolve your financial issues with one of the following options:
- Refinance your loan to lower your interest rate and/or lower your mortgage payment.
- Modify your existing loan to make your payments more affordable.
- Avoid the foreclosure process by signing over the deed to your home to the credit union.
- Sell your home and pay your mortgage loan off in full, or we may accept an amount less than you owe. Please consult a Mortgage Loan Officer for details.
To explore one of these options, please contact the credit union at (800) 562-5611. To determine if you qualify, we will need to collect some documents. Please prepare the following documents for your request:
- Proof of income, such as recent pay stubs, social security statements, tax returns (if needed), etc.
- Recent statements from some or all of your financial institutions.
- Property tax statement
- Hardship letter explaining why you are unable to make your payments.
- List of monthly expenses, including utilities, debt payments, other expenses, etc.
Again, to explore one or several of these options, contact Red Canoe Credit Union at (800) 562-5611.
Additional Resources Available to Homeowners