Travis Credit Union: Your Partner in Avoiding Foreclosure
At Travis Credit Union, we understand that financial hardships can happen to anyone. Our mission is to help you navigate these challenging times and keep you in your home. If you're struggling to make your mortgage payments, our knowledgeable team is here to guide you through your options. Below, you'll find answers to frequently asked questions and valuable resources.
Available Options for Members Facing Hardship
The right solution for you will depend on your unique circumstances. Here are some general options that may be available to qualifying members:
- Repayment Plan
This plan allows you to continue making your regular mortgage payment while adding an extra amount to gradually bring your account current. Please note that this will result in a higher monthly payment during the repayment period.
- Forbearance Plan
If you're experiencing a temporary financial setback, we may be able to suspend or reduce your regular payments for a specified time. At the end of the forbearance period, you'll need to arrange repayment for the principal and interest that were deferred, as interest will continue to accrue during this time.
- Loan Modification
For those facing long-term or permanent financial difficulties, we can evaluate your situation for a modification of your original loan terms. This adjustment can provide essential payment relief not available through other hardship programs.
- Deed-In-Lieu of Foreclosure
If you believe that your home is no longer affordable and have exhausted all other options, you may consider a “Deed-in-Lieu of Foreclosure.” This process allows you to surrender the property without going through formal foreclosure proceedings, typically resulting in lower fees and a reduced impact on your credit score compared to foreclosure.
Take the First Step Toward Relief
If you're facing financial challenges, don’t hesitate to reach out to us. Contact Travis Credit Union today to discuss your situation and explore the best solutions tailored for you.
You can submit a request online using the form below, or call us at (800) 844-0008 (option 2).
Our dedicated staff is ready to assist you in finding the right path forward. Remember, reaching out early can make all the difference in securing the support you need.
Assisting You: Our Process and Required Documents
To provide you with the most effective assistance, we need to review your financial situation thoroughly. Please submit the following documents:
- A personal letter detailing your current financial situation and hardship.
- Your most recent payroll or unemployment check stub.
- A completed financial statement form (we will provide this to you).
After receiving these documents, we may request additional information to determine the best solution for your situation.
Getting Started
To begin the process:
Use the link provided above, or
Call our Member Solutions team at (800) 844-0008 (option 2)
Available Monday through Friday during regular business hours
Important Notes
If your mortgage is serviced by another lender, please contact them directly for assistance.
You do not need to pay a third party for foreclosure alternative assistance.
Additional Housing Assistance Resources
Mortgage Scam Awareness: Click here to learn how to recognize and avoid mortgage scams.
Consumer Financial Protection Bureau offers information to help protect your finances and mortgage.
Department of Housing and Urban Development (HUD) provides counseling for homeowners with delinquent mortgage loans. Call: (800) 569-4287 or TTY: (800) 877-8339.
Fannie Mae (FNMA) offers home ownership preservation information for FNMA-owned loans.
Remember, you should never have to pay for hardship assistance from your lender. If you're unsure about any offers or requests, please contact us directly for verification.
We're here to help you navigate this challenging time and find the best possible solution for your situation.