If you’re having trouble keeping up with your mortgage payments, Navy Federal offers a variety of programs to help you avoid foreclosure and keep your home.
Life can be unpredictable. We understand things may happen that make it difficult to keep up with your mortgage payments. You may be eligible to refinance or modify your Navy Federal mortgage loan so your terms and monthly payments are more manageable. Or, you may qualify for a temporary or permanent solution to help you get your finances back on track. Department of Housing and Urban Development-approved counselors are also available to provide you with the information and assistance you may need to avoid foreclosure.
Depending on your circumstances, you might be eligible to refinance or modify your current loan to lower your monthly payments. Here are some options.
Receive a new mortgage loan with a lower interest rate or other favorable terms.
Pay the total amount owed in a lump-sum payment and by a specific date.
Make up missed payments by adding a portion of the past due amount to your regular monthly payment amount over an extended period of time.
Make reduced mortgage payments or no payments for a specific period of time.
Missed payments are paid at the end of the original term.
Makes your home more affordable by modifying the terms of your mortgage loan to reduce monthly payments.
Depending on your circumstances, staying in your home may not be possible; however, a short sale or Deed-in-Lieu of Foreclosure may be a better choice than foreclosure.
A short sale is an option if your home is worth less than your mortgage payoff amount. You’ll need to list your property with a real estate agent, obtain a contract and apply for assistance. In some cases, relocation assistance may be available.
If you’re unable to sell your home, a Deed-in-Lieu of Foreclosure allows you to transfer ownership to Navy Federal Credit Union, upon approval.
To see if you’re eligible for any of our home-retention or liquidation options, complete the Borrower Response Package and follow the enclosed instructions to submit it to us. A mortgage default specialist will contact you to discuss next steps. Continue making your mortgage payments as scheduled, even after you've submitted your request.
Make sure you know how to protect yourself against foreclosure scams.
If you’d like to escalate your case, we have a process designed to address specific instances that meet the following criteria:
Send us a letter describing the specific reasons your case fits one of the criteria above. If you’re filing an appeal, you must have supporting documentation.
Send your letter to:
Navy Federal Credit Union
Attn: Mortgage and Equity Resolutions/Loss Mitigation
P.O. Box 3302
Merrifield, VA 22119-3302
ATTN: Complaint Resolution Team
After receiving your qualified escalation or request for appeal, we’ll send you a letter of acknowledgement by the third business day after we receive your request. We may have a resolution within 14 days. If more research is necessary, we may request this from you via phone. We’ll also respond in writing to explain the actions we’ve taken.
Have questions? Contact us at 1-888-842-6328, Monday-Saturday, 7 am-midnight, ET.