Foreclosure Information - University Credit Union, Los Angeles, CA

Your options during a foreclosure

If you are in foreclosure, University Credit Union has some options for you to consider. In all cases, please stay in touch with a University Credit Union representative. We will be able to discuss your options more fully and review the type of action plan for you. Speak with a UCU representative toll-free at (866) 960-7808.

List of Options

1. Repayment Plan (Divide arrearage into payments over a 6 month period)
2. Workout Plan (Modification/Forbearance)
3. Interest Only

Instructions on steps to follow to explore the above options

1. Call the Collection Department toll-free at (866) 960-7808
2. Explain your situation (What has changed since member opened the loan)
3. Advise your UCU representative what your intentions are regarding your loan
4. Prepare a Hardship Letter

Items required to be considered for possible workout on Real Estate Loans

1. Hardship Letter (specify the Reason for Delinquency)
2. Copy of most recent paycheck stub or proof of income
3. List of Monthly debts & expenses
4. Estimate of affordable Monthly Payment amount

Your savings federally insured to at least $250,000 through the National Credit Union Administration (a U.S. Government Agency) and backed by the full faith and credit of the United States Government.
An additional $250,000 of coverage provided by American Share Insurance (ASI), a private corporation.
University Credit Union is an Equal Housing Lender.

For more information, please e-mail us or call (310) 477-6628.