How do I get assistance with my home loan payments?
We understand that from time to time our members may incur financial hardships. If your financial situation has changed and you’re finding it difficult to make your First Tech mortgage or home equity loan payment timely, we may be able to help. It's important to consider all your options before risking possible foreclosure. You may be eligible for a:
- Temporary payment reduction
- Loan modification
- Pre-foreclosure sale (also called a "short sale")
Getting started with your financial review
To determine the best possible way to assist you, we must review your financial situation. To do this, we need the following documents:
- Signed Hardship Letter
- Uniform Borrower Assistance Form
- Signed 4506T-EZ
- A pay stub(s) dated within the last 60 days representing one month’s household income (If all or part of household income is from business ownership (self-employed), include the last two years Federal tax returns; including all forms and schedules.)
- Two years’ Federal tax returns
- Declaration page of your homeowner’s insurance policy
- Most recent three months’ bank statements
- Most recent retirement statement(s) (401k, 403b, PERS, etc.)
In addition, you will need to complete the documents below so that we can determine which alternatives are best for you:
- Mortgage Assistance Application
- 4506-T Request for Transcript of Tax Return
- Home Affordable Modification Program Government Monitoring Data Form
Once completed, please fax the documents to 503.469.7739, attention: Mortgage Workout Team or email documents to email@example.com. A Mortgage Workout Specialist will contact you by phone within five business days to discuss your application. Please call 855.855.8805 x4662 with any questions.
The Department of Housing and Urban Development (HUD) also offers counseling for homeowners whose mortgage loans have become delinquent. You can contact HUD at 1.800.569.4287 or TYY 800.877.8339.
Please feel free to call our Member Service Center at 855.855.8805.