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Mortgage Assistance

If you’re unable to continue making your mortgage loan payments, we may be able to help.



Mortgage Assistance for Homeowners

If you’re experiencing financial difficulties, BFSFCU is here to help.

BFSFCU is committed to helping members by offering a variety of options that may be available to you depending on your hardship. There are options to help you stay in your home and bring your mortgage current, and options that allow you to leave your home while avoiding foreclosure.

We can answer questions you may have about these options, including the general eligibility requirements.

Consult your tax/financial advisor for information about your specific circumstances and how this may affect you.


Refinance Apply for a new loan with a lower interest rate or other favorable terms. If approved, allows you to bring your mortgage current immediately.
Reinstatement Pay all past due amounts in a single lump- sum payment.

Available if you have the funds to pay now.
Allows you to bring your mortgage current immediately.
Repayment Plan Pay all past due amounts together with your regular monthly payments over an extended period of time.

Available if you have sufficient income to cover more than your regular monthly payment.
Allows you time to bring your mortgage current without having to make a single lump-sum payment.
Payment Deferral Defer repayment of one or two past-due principal and interest payments, which will be due and payable at the maturity of the mortgage loan or earlier upon the sale or transfer of the property, refinance of the mortgage loan, or payoff of the interest- bearing unpaid principal balance. Allows you to bring your mortgage current by delaying repayment of past-due principal and interest amounts without changing other terms of your mortgage.
Forbearance Plan Make reduced payments or no payments for a specific period of time (for example, three months). During this time your mortgage will become increasingly delinquent. Allows you time to improve your financial situation and possibly qualify for another option, such as a modification, upon completion of the forbearance plan.
Modification Make modified payments based on new terms.

May require your successful completion of a three-month
trial period plan.
Allows you to bring your mortgage current by permanently modifying your mortgage.

Intended to make your payments or terms more manageable; typically results in a lower monthly payment.


Sell Your Home Sell your property for more than the balance remaining on the mortgage. Proceeds from the sale are used to pay off your mortgage balance.

If the buyer pays more for your home than you owe on all liens, you’ll receive the net proceeds after closing costs and commissions are paid.
Short Sale Sell your property.

Proceeds from the sale are used to pay off a portion of your mortgage balance when you owe more on your mortgage than the home is worth.
Allows you to transition out of your home to avoid foreclosure.

Relocation funds may be available.

The remainder of your mortgage debt after the transfer of ownership may be forgiven, but there may be tax consequences—consult a tax advisor.
Deed-in-lieu of Foreclosure Transfer ownership of your property to us in exchange for relief from some, or all, of the mortgage debt. Allows you to transition out of your home if you are unable to sell your home to avoid foreclosure.

Relocation funds may be available.

The remainder of your mortgage debt after the transfer of ownership may be forgiven, but there may be tax consequences—consult a tax advisor.



Contact Us

If you are having trouble making your mortgage payments, take immediate action and contact us as soon as possible.

  • Contact a member of our Account Resolution Team to discuss these options and assist you in determining what may be most appropriate for you. The most important step is to seek help as early as possible.
  • You can reach us via email at [email protected] or by phone at (202) 212-6940, between 8:00 am and 4:30 pm, Monday – Friday, Eastern Time.

Contact the Department of Housing and Urban Development Housing Counselors. This hotline provides free, comprehensive foreclosure assistance and housing counseling services around the clock. Call 1-800-569-4287 to ask about receiving help with your mortgage and to see if you qualify.

Additional Resources:

Beware of Foreclosure Rescue Scams!

Scam artists have stolen millions of dollars from distressed homeowners by promising immediate relief from foreclosure, or demanding cash for counseling services. 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. If you have any doubts, contact your mortgage servicer. Don’t let scammers take advantage of you, your situation, your house, or your money. Keep in mind, your mortgage servicer is not responsible for paying damages resulting from a scam. Remember, help is FREE.


Beware of a company or person who:

  • Asks for a fee in advance to work with your mortgage servicer to modify, refinance, or reinstate your mortgage.
  • Guarantees they can stop a foreclosure or get your mortgage modified.
  • Advises you to stop paying your mortgage servicer and pay them instead.
  • Pressures you to sign over the deed to your home or sign any paperwork that you haven’t had a chance to read, and you don’t fully understand.
  • Claims to offer “government-approved” or “official government” mortgage modifications.
  • Asks you to release personal financial information online or over the phone and you have not been working with this person and/or do not know them.


Do one of the following:

  • Go to the Consumer Finance Protection Bureau to submit a complaint and get information on how to fight back.
  • Call 888-995-HOPE (4673) and tell the counselor about your situation and that you believe you were scammed or know of a scam.