Financial Hardship Assistance

Let's see if we can offer you some financial relief

Natural disasters, health problems, a job loss, or an unexpected major expense can all put a huge strain on your household budget. If you need some emergency funds or you're finding it difficult to make your current loan payments, we may be able to offer you some relief.

Existing Home Loans

If financial challenges cause you to fall behind on your mortgage, home equity loan, or home equity line of credit payments, we have several ways to assist you. To determine the best path forward, we'll need to discuss your financial situation in detail, and you'll be required to complete a Borrower Response Package consisting of a Checklist, Application and Tax Form.

Reinstatement: You agree to pay the total amount you owe in a lump sum payment by a specific date. This allows you to avoid foreclosure during a temporary financial crisis but can provide evidence that funds will be available in the future.
Repayment Plan: You agree to repay the past due amount and current payments together over an extended timeframe and catch up on the loan. You keep your original maturity date and current interest rate.
Loan Modification: KeyPoint offers repayment options that may make the loan more affordable, such as a longer loan term or lower interest rate.
Short Sale: You sell your home and pay off a portion of the mortgage balance when you owe more on the home than what it is worth. This option allows you to transition out of your home without going through foreclosure.
Deed-in-Lieu of Foreclosure: You transfer the ownership of your property to KeyPoint Credit Union. This will allow you to transition out of your home without going through foreclosure. (This is typically available when there are no other liens on your property.)

Auto Financing and Consumer Loans

Our representatives can also discuss providing you with a financial lifeline if you fall behind on payments for auto loans, signature loans, credit cards or personal lines of credit. They may be able to:

Defer up to two payments
Create a custom payment plan
Modify your loan

First Name

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Last Name

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Address

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City

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State

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ZIP

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Current Employer

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Gross Monthly Income

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Are you currently in possession of the vehicle?

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Mileage

I believe my hardship is

Temporary Hardship (e.g., Unemployment, Temporary Sickness or Disability, etc.) Permanent Hardship (e.g., Death of a borrower, divorce or legal separation, long-term or permanent disability, etc.) Other (Detailed explanation required in hardship letter)

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Please provide a detailed, written explanation with this request describing the specific nature of your hardship.

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Department of Housing and Urban Development Resources

For further assistance, you may want to contact HUD at (800) 569-4287 or TTY/TDD (800) 877-8339. You may also perform an online search for a HUD-approved counseling agencies by visiting the HUD website. The HUD housing counselors can help you understand the law and your options. They can also help you to organize your finances and represent you in negotiations with your lender if you need this assistance. Other useful consumer information on foreclosure alternatives is available on HUD's website.

Another option for free housing counseling is the Homeowners HOPE Hotline at (888) 995-HOPE (4673). This provides comprehensive foreclosure assistance and housing counseling services in more than 170 languages, 24/7/365.

Error Resolution and Requests for Information

If you believe there has been an error in the servicing of your loan or you wish to submit a qualified information request, please contact our Loan Servicing Department:

Call us at (888) 255-3637, ext. 4252 or (408) 731-4252.
Send us an email [email protected].
Write a letter to KeyPoint Credit Union; Attention: Loan Servicing Department; 2805 Bowers Avenue; Santa Clara, CA 95051

In your letter, please include the following information:

Your name, property address, and mortgage account number
Your address and day-time phone number
An explanation of why you believe there is an error, or identify the information you are requesting

We strive to respond within five business days, but no longer than 30 days. While waiting for our response, you should continue making your mortgage or loan payments as scheduled.

Beware of Scams

Scam artists steal millions of dollars from distressed homeowners by promising immediate relief from foreclosure, or demanding cash for counseling services when HUD-approved counseling agencies provide the same services for free. If you receive an offer, information or advice that sounds too good to be true, it probably is. Don't let them take advantage of you, your situation, your house, or your money.

To determine if you are a possible victim of a scam, ask yourself these two questions:

Were you told you had to pay a fee to obtain counseling services?
Were you guaranteed a loan modification or asked to do any of the following:

Sign over title to your property
Redirect mortgage payments
Stop making loan payments

If the answer to any of these questions is “yes,” then report the possible scam by calling (888) 995-HOPE (4673).

Let's see if we can offer you some financial relief

Emergency Assistance Loans

Existing Home Loans

Auto Financing and Consumer Loans

Let's talk about what's possible