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Avoiding Foreclosure

Are you having trouble making your Mortgage Payment?

Community First Guam Federal Credit Union understands that our members may occasionally suffer financial hardships.  If your financial situation has changed and you are finding it difficult to maintain timely payments on your home equity or first mortgage loan with Community First Guam Federal Credit Union, we may be able to help.

It is important to consider all of your options before risking the possible loss of your home to foreclosure.  There are numerous solutions available and one of them may be right for you.

You may be eligible for:

  • Refinance – Receive a new loan with lower interest rate.

  • Reinstatement – Pay the total amount you owe, in a lump sum payment and by a specific date. This may follow a forbearance plan as described below.

  • Repayment Plan – Pay back your past-due payments together with your regular payments over an extended period of time. This may follow a forbearance plan as described below.

  • Payment Deferral – A payment deferral moves your missed mortgage payments to the end of your loan term, but your monthly mortgage payment amount stays the same. This may follow a forbearance plan as described below.

  • Modification – Receive modified terms of your mortgage to make it more affordable or manageable after successfully making the reduced payment during a “trial period” (i.e., completing a three-month trial period plan)

  • Short Sale – Sell your home and pay off a portion of your mortgage balance when you owe more on the home than it is worth.

  • Deed-in-Lieu of Foreclosure – Transfer the ownership of your property to us.

  • Forbearance – Make reduced mortgage payments or no mortgage payments for a specific period of time.  At the end of the forbearance period, the borrower must cure the delinquency through one of the options stated above.

Contacting us early is the key to keeping you in your home. Please call us at 671-472-8210 or email us at creditcounseling@cfirstguam.com

For further assistance you may contact The Department of Housing and Urban Development at 1 (800) 569-4287 or TTY (800)-877-8339. http://www.hud.gov/counseling

In addition, the Guam Housing and Urban Renewal Authority offers counseling for homeowners whose mortgage loans have become delinquent.  This counseling could help you avoid foreclosure, and you are urged to seek it.   

GUAM HOUSING AND URBAN RENEWAL AUTHORITY

Tel: (671) 477-9851
Email:  efnapoli@ghura.org
Website:  www.ghura.org
 

117 Bien Avenida Ave
Sinajana, Guam 96910-3643

HOURS OF OPERATION:
*Monday - Friday 8:00am ~ 5:00pm
*Closed Weekends and Holidays

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