Financial Hardship Borrower's Assistance Program
Are you currently facing financial hardship? Assistance may be available, if you qualify.
Options to Avoid Foreclosure
The variety of options summarized below may help you keep your home. For example, you may be eligible to modify your mortgage, lowering your monthly payment to make it more affordable. Contact us to determine if you qualify.
Depending on your circumstances, staying in your home may not be possible. In this case, a short sale or deed-in-lieu of foreclosure may be a better choice than foreclosure – see below for more information.
- Short Sale
- Deed-in-Lieu of Foreclosure
- Don’t delay, as failure to take action may result in foreclosure proceedings being initiated on your mortgage.
Please see our contact information below for sending documents to us.
- Sending electronically? Please contact us at (800) 582-9702 for secure delivery options.
- Do NOT send the documents through regular e-mail as this is not secure.
Union Savings Bank
Attn: Default Services
8805 Governor’s Hill Drive
Cincinnati, OH 45249
If you are experiencing a financial hardship you may be eligible for mortgage assistance from your state’s housing finance agency or other state or local government agency.
For a list of HUD-approved housing counseling agencies that can provide free foreclosure prevention and debt management information, information on State or local government mortgage assistance programs that
may be available, as well as translation or other language assistance, contact one of the following federal government agencies.
- The U.S. Department of Housing and Urban Development (HUD) at (800) 569-4287 or www.hud.gov/counseling
- The Consumer Financial Protection Bureau (CFPB) at (855) 411-2372 or www.consumerfinance.gov/mortgagehelp
Your loan may be owned by Freddie Mac. For additional information on how to avoid foreclosure, including help for military servicemembers, or to determine whether your loan is owned by Freddie Mac, you may also visit Freddie Mac’s My Home web site at http://myhome.freddiemac.com.
Your loan may be owned by Fannie Mae. For additional information on how to avoid foreclosure, including help for military servicemembers, or to determine whether your loan is owned by Fannie Mae, you may also visit Fannie Mae’s web site at www.KnowYourOptions.com.
The following agencies may provide assistance and/or information to you regarding assistance available during the foreclosure process.
For Save the Dream Ohio, please see this Fact Sheet from the Ohio Housing Finance Agency.
Options to Stay in Your Home
Options to Leave Your Home
We Want to Help
Take action to gain peace of mind and control of your housing situation. Call us at 1-800-582-9702 and we’ll talk about available options and help you understand the forms and documents we need from you to determine if you qualify for an option to avoid foreclosure.
Frequently Asked Questions
No. There should never be a fee to obtain assistance or information about foreclosure prevention options from USB or a qualified housing finance agency.
Never send a mortgage payment to a company except the one listed on your monthly mortgage statement.
Beware of scams and anyone offering to help you for a fee (see Beware of Foreclosure Rescue Scams! for additional information).
Foreclosure is the loss of your home through a legal process where USB or a third party acquires the property at a foreclosure sale.
You must move or you will be evicted from the property.
It may be as long as seven years before you are eligible for another mortgage.
You and any additional borrower listed on the mortgage may experience negative credit implications.
If you disregard USB’s notices, USB may refer your mortgage to foreclosure as authorized by your mortgage documents and applicable law.
Yes, the sooner the better! If you wish to keep your home, contact USB immediately.
You may also contact a HUD-approved housing counselor (see Additional Resources ) and request a three-way call that would include you, the HUD-approved housing counselor, and USB to discuss your hardship.
A HUD-approved housing counselor can also provide free advice on debt management.
Yes, but it is important that you reach out to USB as soon as possible to discuss potential options. If USB receives your complete Mortgage Assistance Application with only 37 or fewer calendar days before the scheduled foreclosure sale, there is no guarantee that USB will be able to evaluate you for mortgage assistance in time to stop the foreclosure sale.
Even if USB approves you for a foreclosure alternative prior to a sale, a court with jurisdiction over the foreclosure proceeding (if any) or public official charged with carrying out the sale may not be able to halt the scheduled sale.
No. Your property will not be sold at a foreclosure sale if you accept a foreclosure avoidance option and comply with its requirements.
You should contact USB as soon as possible. We are here to help you adjust to these events and provide you with information on where to send the mortgage payments. Please contact us to obtain a list of documentation that is needed to confirm your identity and ownership interest in the property, and to discuss next steps.
Beware of Foreclosure Rescue Scams!
Scam artists have stolen millions of dollars from distressed homeowners by promising immediate relief from foreclosure, or demanding cash for counseling services. HUD‐approved counseling agencies provide the same services for FREE. If you receive an offer, information, or advice that sounds too good to be true, it probably is. If you have any doubts, contact your mortgage servicer. Don’t let scammers take advantage of you, your situation, your house, or your money. Keep in mind, your mortgage servicer is not responsible for paying damages resulting from a scam. Remember, help is FREE.
How to Report a Scam – do one of the following:
Beware of a company or person who:
- Asks for a fee in advance to work with your lender to modify, refinance or reinstate your mortgage.
- Guarantees they can stop a foreclosure or get your mortgage modified.
- Advises you to stop paying your mortgage servicer and pay them instead.
- Pressures you to sign over the deed to your home or sign any paperwork that you haven’t had a chance to read, and you don’t fully understand.
- Claims to offer “government‐approved” or “official government” mortgage modifications.
- Asks you to release personal financial information online or over the phone and you have not been working with this person and/or do not know them.