Avoiding Foreclosure

If you are finding it more and more difficult to make payments and stay current on your existing SAFE home loan, home equity loan, or home equity line of credit, there may be options available to you that could help you avoid foreclosure. Let SAFE assist you in keeping you where you belong — in your home.

Step 1: Gather Your Information

Before meeting with a SAFE Representative, gather documents and information that will help determine the options available to you. Documents needed include:

Most recent paystub and W-2.
If self-employed, please provide your most recent tax return and income statement.
If unemployed, provide copies of your unemployment benefits statements.
Recent mortgage statements on any other mortgage you may have on the property
Written explanation of your current hardship
Complete FNMA 710 form and list all your monthly obligations, including loans, credit cards, utilities, etc.

Step 2: Review Your Options

During your appointment, we will review your information and present options that will help you avoid foreclosure. Options available depend on your current financial situation and may include:

Making payment arrangements.
Refinancing the loan.
Modifying the existing loan.
Consolidating debt to lower payments.
Contacting a HUD-certified counseling service or an attorney.
Assigning the property over to SAFE (deed in lieu of foreclosure).

Step 3: Contact a Resource for Assistance

SAFE Mortgage Modification

To schedule an appointment with SAFE's Mortgage Portfolio Retention Administrator, call (916) 971-2836 or (800) SEE-SAFE, extension 2836.

You may also contact SAFE by mail or by fax regarding modification options.

Send your inquiry to:
SAFE Credit Union
Attn: Mortgage Modifications
2295 Iron Point Road, Suite 100
Folsom CA 95630-8765
Or, fax your inquiry to:
(916) 971-6440
Attn: Mortgage Modifications

Please be sure to include your loan number and last name when submitting your inquiry.

U.S. Department of Housing and Urban Development (HUD)

To speak to a HUD-certified counseling service, call (800) 569-4287, or visit www.hud.gov.

Fannie Mae

For additional information provided by Fannie Mae, visit www.knowyouroptions.com.

Contacting CalHFA Homeowner Relief Corporation to see if you are eligible to receive federal funds through the California Mortgage Relief Program. To determine eligibility, please contact CalHFA at (888) 840-2594 or visit www.camortgagerelief.org.