Struggling to make payments? We're here for you.
Financial stress can impact anyone at anytime. Whether it's the loss of a job, an unexpected medical expense, or something else, life has a way of challenging us sometimes.
If you're struggling to make your mortgage or home equity loan/line payment, please know that the team here at San Mateo Credit Union is here to help. Whether you've already fallen behind or you're afraid you will soon, reach out to us.
We work with you, not against you
We want what's best for you, and our goal is to help you reach a financial solution that is in your best interest. Usually, that means taking steps to help you avoid foreclosure. We'll present options to you, which may include:
- Payment extensions
- Repayment plans
- Loan restructuring
- Short sale
Two steps toward making things better
1. Preparing to talk to us
Gather your financial information so that we can get right to the heart of the matter. We’ve made it easy by providing a personal budget worksheet and an application for you to fill out. You'll also need:
- Hardship Letter
- Financial Budget Worksheet
- Fully completed loan application and signed authorization to release
- Two most recent pay stubs with year to date earning covering 30 days
- Last two years full Tax Returns and all W-2s and 1099s
- Most recent statements for two utility bills
- Last three months of bank statements
- Current Homeowners Insurance Declaration page
2. Starting a conversation
Call (888) 363-1725 and ask for the Real Estate Department, or call direct at (650) 363-1799. You'll be connected to one of our mortgage specialists who can discuss your particular situation and provide practical solutions to avoid foreclosure.
If you prefer, you can mail or fax in your personal budget worksheet to:
San Mateo Credit Union
Real Estate Department
350 Convention Way
Redwood City, CA 94063
Fax: (650) 367-1227
If you send in your budget worksheet by mail or fax, one of our mortgage relief specialists will review your information and call you to set up a time to talk.
Housing counseling access
The U.S. Department of Housing and Urban Development (HUD) sponsors housing counseling agencies that provide low- or no-cost assistance. Find the nearest one through this online search. You can also call toll-free at (800) 569-4287 weekdays between 9 a.m. and 5 p.m., Eastern Standard Time (6 a.m. to 2 p.m. Pacific Time). When you call HUD, you can receive an automated referral to the three housing counseling agencies closest to you.