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Coast Hills

How to Avoid Foreclosure

We understand that our members may occasionally experience challenges that make it difficult to meet their financial obligations. If you're facing difficulties making your payments, the best thing to do is call us as soon as possible!

Here for you

CoastHills Credit Union is committed to working with members experiencing financial difficulties impacting their CoastHills' mortgage(s). Our goal is your goal - to keep you in your home. We have options that may be available to help you during these difficult times.

  • Repayment Plan: Catch up with missed mortgage payments by creating a schedule for repaying the past-due amounts.
  • Loan Modification: Changing the terms of the mortgage to make payments more affordable.
  • Forbearance: Allowing reduced or suspended payments for a short period of time, after which another option will be agreed upon to bring the loan current.

Meet with us

Take action by meeting with us and coming up with a plan. Please contact us at (805) 733-7652 to schedule a meeting. You will need the following financial documents:

  • Most recent pay stubs
  • Most recent W-2 tax statement
  • Letter describing your financial difficulty and its impact on your financial situation
  • Written description of your income and expenses
  • Financial statement

Impact of foreclosure

The sooner you call us the more options you'll have to avoid the start of a foreclosure action on your property. A formal foreclosure will damage your credit rating, resulting in a negative impact on your ability to borrow money in the future.

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  • NCUA
    Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government. National Credit Union Administration, a U.S. Government Agency