Mortgage Payment Help

There are alternatives to foreclosure

The sooner you call us, the more likely we can help you find such an alternative. You should make every effort to keep your mortgage current. But if you can't make your mortgage payments for reasons beyond your control, we want to talk to you about alternatives to foreclosure.

If your financial hardships are temporary, there are options that you may qualify for:


This payment includes the total amount past due and any other charges identified in your loan agreement. It is paid in a lump sum by a specific date.

Forbearance Plan

Southland Credit Union may be able to reduce or suspend payments for a short time. This plan is useful when you know you will have enough money to bring the loan current at a later time.

Repayment Plan

Make your regular monthly payments include portions of any past due charges until you are caught up.

If your financial hardships are long-term and it is unlikely you will be able to bring the loan current, there may still be alternatives for you:


If you can make regular payments but don't have enough money to bring your account current, or if you can't afford your current payment at all, a modification might help. A modification permanently changes the terms of your loan to make it more affordable. These changes might involve adding any missed payments to the loan balance, changing the interest rate or extending the number of years you have to repay the loan.

Sale of Property

Put the property on the market, and pay off the mortgage loan from closing proceeds.


Even if you do not qualify for a loan modification, you may be able to obtain a new loan from another lender and pay off your Southland Credit Union loan.

To start a review, you will need to provide the following:

  • Your account number.
  • A brief explanation of your circumstances.
  • Recent income documents, including: Pay stubs, benefit statements from Social Security, disability, unemployment, retirement, public assistance or any other source of funds you want considered.
  • Tax returns for the last two years.
  • A list of household expenses, including payments due now and future payments from other credit obligations.

Approval of any alternative is subject to the following:

  • Confirmation of your immediate and later ability to make payments.
  • The value and condition of the property, which act as security for the loan.
  • A review of your financial condition and reasons for delinquency.
  • Southland’s ability to obtain subordination of other obligations secured by the property, which also acts as security for the loan.

How to contact us:

Call Southland at its toll-free number 800-426-1917 and the Credit Union will start the process to determine your circumstances and explore options that may be available to you. Please don't delay. The sooner you call, the more likely Southland can find an alternative for you.

Where to get additional assistance:

The U.S. Department of Housing and Urban Development (HUD) sponsors housing counseling agencies throughout the country that can provide you with advice and guidance regarding defaults, foreclosures, credit issues and alternatives. You can find an HUD counselor in your area by calling its toll-free number 800-569-4287.

Important note:

If you are currently protected by the filing of a petition in bankruptcy or have been discharged in bankruptcy, this summary is for information purposes only and should not be considered as an attempt to collect the debt from you personally.