Mortgages

Mortgage financial hardship assistance

Greenwood Credit Union ("GCU") understands that from time to time our members may experience financial hardship. If you are experiencing financial hardship and are finding it difficult to make your mortgage or home equity loan payment in a timely manner, Greenwood Credit Union may be able to help. It is important to consider every option available to you before risking possible foreclosure.

As your mortgage loan servicer, GCU will work with you in an effort to make your payment affordable. If you believe you are experiencing a qualified financial hardship, please contact our Mortgage Servicing Department at 1-866-739-9121 Ext 729.

Beware of Foreclosure Rescue Scams. Help is free!

There is never a fee to get assistance or information about any mortgage financial hardship program. If you want to work with a third-party organization, please make sure it is a HUD- approved housing counselor. For a HUD approved counselor visit http://www.hud.gov/offices/hsg/sfh/hcc/hcs.cfm or call 1-888-995-HOPE.

Beware of any person or organization that asks you to pay a fee in exchange for housing counseling services or modification of a delinquent loan.

Beware of anyone who says they can "save" your home if you sign or transfer over the deed to your home. Do not sign over the deed to your property to any organization or individual unless you are working directly with your mortgage servicer.

NEVER make your mortgage payments to anyone other than your mortgage servicer without their approval.

Is your mortgage a Fannie Mae loan?

To find out if your mortgage is owned by Fannie Mae, you can go to the Fannie Mae Loan Lookup site at http://www.fanniemae.com/loanlookup/. This site enables you to quickly determine if Fannie Mae owns your loan. This site is only provided as a convenience; you should check with GCU to confirm if your loan is owned by Fannie Mae.

If you do have a Fannie Mae loan and you wish to file a dispute with GCU regarding the process or decision on your financial hardship application, please submit a written request to the attention of the Vice President of Collections, Greenwood Credit Union, 2669 Post Road, Warwick, RI 02886.

The following is a summary of GCU's service commitment to provide fair consideration and timely resolution of the escalation process for Fannie Mae loans (in accordance with Fannie Mae guidelines):

• Within three (3) business days of when your escalated case is received, GCU will acknowledge the inquiry in writing (e-mail, fax or mail).
• Within fifteen (15) business days from the written acknowledgement of receiving the request, a resolution will be determined.
• Within five (5) business days of identifying the resolution, you will be notified of the proposed resolution in writing (e-mail, fax or mail).