Homeowner Hardship Assistance

If you're struggling to make your mortgage payments, we can help you avoid foreclosure

Stanford Federal Credit Union is here to provide assistance to help our members find alternatives to foreclosure. We have planned these programs to help our members who are experiencing financial hardships and are searching for ways to keep their homes. Our goal is to help you understand the resources that may be available to you and help keep you in your home.

Alternatives that may be available for you include:

Loan modifications

If you have encountered a financial hardship that is long-term, Stanford FCU may be able to modify the rate and/or term of your mortgage loan to help meet your needs. Stanford FCU will consider your overall financial picture in addition to the circumstances surrounding your hardship.


Forbearance plans

If you have fallen behind on your payments due to a financial hardship and are now able to make your payments but need assistance in making up past due payments, Stanford FCU may be able to consider a forbearance plan.


Pre-foreclosure sale/short sale

If you have encountered a financial hardship that has prevented you from making payments and you need to sell your property, Stanford FCU
may be able to assist with a short payoff to a qualified buyer.

In order to request assistance and avoid possibly losing your property to foreclosure, it is imperative that you immediately contact Stanford FCU toll-free at 888.723.7328 and speak with a representative in our Loan Servicing/Loss Mitigation Department. You may also call HUD (Housing & Urban Development) toll-free at 800.569.4287 and ask to speak with a Housing Counselor.

Stanford FCU will require that you forward basic information regarding your individual circumstance causing your hardship. Please include a detailed letter outlining your present situation, documentation supporting your hardship and current financial information supporting your income, assets and liabilities.