Home Loan Assistance

Are you having trouble making your POPA FCU mortgage or equity loan payments? Do you need assistance?

POPA FCU is offering relief to members with “financial hardship” who are unable to afford their home loan payments and wish to avoid foreclosure. We have always been committed to assisting our members regarding their financial needs. POPA has never sold any of its real estate loans to third party mortgage companies such as Fannie Mae and Freddie Mac and, POPA has NEVER received any government bailout money. We have always focused on doing more to help our members with loan modifications – allowing families experiencing “financial hardship” to stay in their homes.

BEWARE OF ILLEGAL LOAN MODIFICATION COMPANIES!!!

Loan modification scams are becoming more and more prevalent across the country, particularly in California. California homeowners should be aware of the warning signs of foreclosure scams, so they don’t fall victim to these cynical schemes. The scammers falsely tell homeowners that they would renegotiate their mortgages, reduce monthly payments, and transfer any delinquent loan amounts to the renegotiated principle while, demanding an up-front fee, ranging from $1,500 to $5,000, to participate in the loan-modification program. DO NOT fall prey to these companies! POPA FCU is the most qualified to work with you regarding your loan needs.

If you are having trouble making your mortgage payment(s), whether it is a First Trust Deed or a Home Equity loan with us, please do not hesitate to call us at 800.369.7672, and ask for Laura Lara at extension 4401 to discuss options and alternatives.

“Financial hardship” is defined as:

  • Loss of job or experiencing more than a 30% decrease in household income
  • Divorce or separation
  • Death or illness of homeowner or immediate family member

POPA FCU may be able to help you with one of the following options:

  • Refinance your loan to extend the loan term payments
  • Loan modification – to provide reduction in payments and/or interest rate, for the period of “financial hardship”
  • Consolidation of Credit Union consumer loans

Financial records needed when you meet with us:

  • Most recent pay stubs
  • Most recent W-2 income statements
  • Signed affidavit attesting to “financial hardship”
  • Detailed written statement of your household income and expenses
  • All other related and supporting documentation

All loan modification requests must be in writing and signed by all signers on the loan(s). These requests will be qualified and presented to the Board of Directors for approval.

For further assistance:

If your home loan is not with us, contact your primary mortgage lender right away. The sooner your lender knows about your situation the better chance you have of working out a solution. Waiting to find assistance will put you further behind in your payments and increase your chances of losing your home.

The U.S. Department of Housing and Urban Development (HUD) offers counseling to homeowners whose mortgage loans have become delinquent. This counseling could help you avoid foreclosure, and you are urged to seek it. To find a homeownership counseling agency near you please call (800) 569-4287 or TTY (800) 877-8339. See the Department of Housing and Urban Development at hud.gov for a more complete list of Community Counseling Agencies.