Avoiding Foreclosure
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 issue 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
- Housing and Urban Development Approved Housing Counselors at (800) 569-4287.
- Washington state housing Hotline at (800) 562-HOME (4663).
- Northwest Justice Project (Low Income and Senior Legal Assistance) at (800) 997-8944, Monday through Friday from 2:00 p.m. to 4:30 p.m. (PST).