If You Are Having Financial Difficulty, GVCU Is Here To Help
At GVCU, we understand that these are challenging economic times. If you are experiencing difficulty in making your real estate loan payments, we want to help. Our experienced staff will listen to you and provide some options that may help you avoid foreclosure. The sooner you contact your lender, whether it is GVCU or another institution, the better.
You may reach us at
There are a few documents you will need to gather in order for us to assist you with your financial situation.
Proof of income (paycheck stubs, tax returns)
An itemized list of household expenses
Other monthly obligations
Copy of homeowner’s insurance policy
If you have fallen behind on your payments, here are some options that may be available to you depending on your lender and your individual situation.
Repayment Plan – a payment schedule is created to help you repay the past-due amount and bring current
Forbearance – the lender may reduce or suspend your mortgage payments for a period of time
Loan Modification – the loan is modified to help make the payments more affordable
Selling Your Home – the proceeds from sale of your home may pay off your current mortgage debt
Other helpful resources
You may obtain free or low-cost counseling by contacting the Department of Housing and Urban Development (HUD) at (800) 569-4287.