Help With Financial Difficulties

Options that may be available to home loan borrowers who wish to avoid foreclosure

Other Source of Payment

  1. Your checking and savings account may not be your only sources for making home loan payments. You may be able to repay your home loan by:
    1. Using funds from your 401(k) account – ask your employer about making a “hardship withdrawal”.
    2. Selling stocks and bonds you may own.
    3. Requesting the cash value of any life insurance policies.

Before you use any of these other sources to pay your home loan, please make sure you understand any penalties or tax issues that may result.

Repayment Plan

  1. If you have missed one or more home loan payments, we may be able to create a short term repayment plan. That means that each month you would pay your regular monthly payment amount plus part of the amount you are behind until you catch up.

To find out if a repayment plan is an option for you, please contact our Loan Service Department.

Modify Your Loan

  1. If your loan is past due, we may be able to work together to get your loan back on track. The sooner we discuss your loan, the better choices we may be able to offer you.

To find out if a loan modification is an option for you, please contact our Loan Service Department.

To reach El Dorado Savings Bank’s Loan Service Department to discuss possible options for avoiding foreclosure of your mortgage, you can call the following toll-free number on weekdays from 8:30 a.m. to 5:00 p.m. PT: (800)874-9779 and ask to speak to a Loan Service Department Representative.

In addition to calling us to discuss possible options regarding your home mortgage loan, you can access the voice response system for the United States Department of Housing and Urban Development (HUD) for a list of HUD-certified housing counseling agencies at (800) 569-4287. HUD is a U.S. government agency that increases home ownership and supports home buyers.