If you’re experiencing financial hardship associated with COVID-19, we want you to know that we’re committed to working with you to find the best solution to fit your needs. We have several options available to provide payment relief for home loans and home equity loans.

Here are some of the ways we can help:

• All late fees are being waived until the end of the year, resuming on January 1, 2023.
• If you need to suspend monthly payments for a limited time, our home loan forbearance program is available on most home loans. See details below. 
• Depending on your individual situation and loan type, we may be able to adjust the terms of your loan. However, you may want to consider home loan forbearance as an option before taking this step.
• Foreclosure proceedings are suspended until the end of the year for portfolio loans owned by WSECU. These will resume on January 1, 2023. For government-backed loans, foreclosure proceedings will follow applicable investor guidelines.

Request payment relief

Home loan forbearance is an option available on most home loans. A forbearance is a suspension, or pause, of your monthly payment for a limited period of time. The specific length of time will depend on your individual situation.

Repayment options following the forbearance may include a repayment plan to catch up gradually, deferring missed payments until your mortgage is paid off, or a permanent loan modification to maintain or reduce your monthly payment but which may extend the maturity date of your loan.

Before you decide to request a forbearance, there are a few more things you need to know:

• Under the CARES Act, if your loan was current when entering into forbearance, we will not report it as past due during the forbearance period, but your loan may show as past due in our online systems.
• We will waive late charges during the entire length of the forbearance. However, interest will continue to accrue on the unpaid balance.
• While we are committed to assessing every mortgage relief request, whether or not your loan is federally backed, eligible loans may be restricted due to investor or state requirements.

Please be aware that we are receiving a high volume of requests at this time and may take up to two business days to respond.

Request payment relief

If you need assistance with your home loan or home equity loan, please reach out to us. Whether or not your loan is federally backed, we can offer a variety of relief options based on your individual needs. You can contact us by completing our online form or by calling 800.893.7824 x67001.

• WSECU's COVID-19 financial assistance options
• Consumer Financial Protection Bureau's guide to COVID-19 relief options
• Information about Fannie Mae's COVID-19 relief options