Mortgage Assistance

We're here to help.

If you are experiencing difficulties making your mortgage payments, you have options. Please reach out to Royal Credit Union’s Loss Mitigation Department directly to discuss foreclosure prevention options that are available. Potential options depending on your mortgage type.

Mortgage Modification
Royal Credit Union | Mortgage Modification

A modification is a permanent change to your loan through which the overdue payments may be added to your loan balance, the interest rate may be changed or the number of years you have to pay off the loan may be extended. A modification is a permanent change to your loan through which the overdue payments may be added to your loan balance, the interest rate may be changed or the number of years you have to pay off the loan may be extended.

Forbearance
Royal Credit Union | Forbearance

Royal Credit Union may provide for a temporary reduction or suspension of your payments to allow you time to overcome the problem that reduced your income. Then you may be offered a payment plan so you can pay back the missed payments a little at a time until you are caught up. An extended forbearance period may be provided to unemployed borrowers who are actively seeking employment.

Pre-foreclosure Sale
Royal Credit Union | Pre-foreclosure Sale

With Royal Credit Union’s approval, you can offer your house for sale and sell it at fair market value even if the amount you receive from the sale is less than the amount you owe.

Deed-in-lieu-of-foreclosure
Royal Credit Union | Deed-in-lieu-of-foreclosure

You may be able to voluntarily give your property back to Royal Credit Union.

Repayment Agreement
Royal Credit Union | Repayment Agreement

This is a payment plan that allows you to pay back the missed payments over an agreed upon amount of time until you are caught up.

Contact Us
Royal Credit Union | Contact Us

Royal's Loss Mitigation Specialists are available to help answer your questions and assist you to better understand your options.

Call the Loss Mitigation Department at 1-800-341-9911 ext. 8821, or email lossmitigation@rcu.org.

Other Resources
Royal Credit Union | Other Resources

Royal Credit Union may be the servicer of your mortgage for Freddie Mac, Fannie Mae or USDA. Additional information can be found at:

HUD

Fannie Mae

Freddie Mac

USDA