If you’re having trouble managing your WSECU mortgage or home equity loan payments, please give us a chance to help. We’re committed to working with you to find the best solution. Depending on your eligibility, several options may be available, including:
- Mortgage refinancing that extends your repayment period and/or reduces the interest rate to lower monthly payments.
- A repayment plan to gradually catch up on missed payments.
- A limited-time reduction or pause on your monthly payments with our forbearance program.
- Deferred payments that are paid upon refinancing, home sale or loan maturity.
- A loan modification that may reduce your monthly payment and extend the maturity date of your loan. You may want to consider a mortgage forbearance before taking this step.
- Full mortgage repayment through home sale. If your home's value is less than your loan balance, we may be willing to accept the sale proceeds as full payment. This is known as a “short sale.”
- Voluntary transfer of homeownership to us. This is known as a “mortgage release” or “deed-in-lieu of foreclosure.”
While we are committed to assessing every request for mortgage assistance, options may be restricted due to investor or state requirements.
We’ll work with you to find a solution. If you need assistance with your mortgage or home equity loan, provide a little information about your circumstances by completing our online form or by calling 800.893.7824 x67001.