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1st United mortgage is claiming to help borrowers with home equity loans, or credit lines if they are having difficulty maintaining their payments.
They are willing to make every effort to assist customers with their loans in order to avoid foreclosure.
The customer is required to make initial contact to their number to speak regarding your loan.
And after the contact, an application will be sent to the customer to provide the information and returned the completed application, for processing the modification request:
- Mortgage statement sent by a lender other than 1st United.
- List of existing debts and household expenses
- Information regarding household income
- Two recent pay stubs for each borrower
- One recent W2 for each borrower
- Your income taxes for the last two years (the 1040s), pages 1 & 2 only with signature and date on page 2. Include Schedule E if you are claiming rental income.
- If applicable then a separation letter from the previous employer
- Unemployment documentation (if applicable)
- If self-employed, submit the last two years of your income taxes (the 1040s), pages 1 & 2 (please sign and date them on page 2) and Schedule C
- Description of your financial hardship
With this information, the credit union can determine which alternative is best suited for you.
A warning is issued to customers to not get caught up in false promises and take any verbal discussions regarding loan modifications as binding or as an agreement with 1st United Credit Union.
Reference Source: 1stUnitedCU
