WaFd Bank launches coronavirus homeowner assistance program

Business News | 29 Mar |

WaFd Bank – including all 31 branches across Arizona –  has launched an assistance program specifically designed for homeowners impacted by the coronavirus that allows monthly mortgage payments to be deferred for three months. Interested parties need to simply click here to get the process started. 

If unable to complete the application through this link, please contact homeownerassistance@wafd.com for alternative options.

WaFd Bank’s Homeowner Assistance Department is also available to assist our mortgage customers faced with financial difficulty. There are programs that allow homeowners stay in their homes by providing temporary changes to their monthly payment, by adjusting the interest rate or other terms of the loan. There are also options for homeowners that no longer wish to keep their home. Some of the possible options that may be available to are:

1. Refinance: You may be able to refinance your loan with us or another lender.

2. Modification of your Existing Loan: You may be able to adjust your current loan terms with us.

3. Sale of your home: You may be able to sell your home and satisfy your mortgage, even if the sale price is less than your current loan balance.

4. Deed-in-Lieu of Foreclosure: You may be released from your mortgage if you transfer ownership of your home to WaFd Bank.

To proceed with an application or obtain additional information, you may contact your local WaFd Bank branch, call (866) 453-9710, or email homeownerassistance@wafd.com.

Below is a list of documents required for an application. There may be additional documents or information requested upon review of your application. 

1. Homeowner Assistance Application, fully completed and signed

2. Questionnaire and Acknowledgment, fully completed and signed

3. A letter detailing the financial difficulties and the assistance requested (“hardship letter”)

4. Pay stubs, if applicable, for the prior two months

5. All W-2’s received for the prior year

6. All bank and investment account statements, not including retirement accounts, for the prior two months

7. Prior two (2) years signed tax returns with all schedules, if self employed

8. Past two year-end and year-to-date financial statements (profit and loss and balance sheet) for any entities owned by the borrowers, if applicable

For additional help in exploring any and all option options, the Federal government provides a list of Housing and Urban Development (HUD) approved, nonprofit, homeownership counseling organizations. Click here for a direct link. 

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