The COVID-19 pandemic represents a challenging time for many of us, including homeowners. If you are facing financial hardship and are concerned about your Salal mortgage payments, please contact us to discuss your individual needs. Because of the complex rules and regulations around mortgages, some unique solutions may be needed for each member’s situation.
Mortgage loans can be reviewed for relief options when the loan is at risk of becoming 20-31 days past due. Salal Credit Union can consider one or more of the following relief solutions:
- Late charge review
- Potential credit reporting assistance
- Repayment plan
- Forbearance plans (per investor guidelines)