Financial Assistance Center

Life can take unexpected turns, but you don't have to face them alone. HRCU's loss mitigation options are designed to provide you with the support and flexibility you need to regain control of your financial situation. Options are subject to approval based on your financial situation.

Here are a few loan options to consider:

1. Refinance: Lower mortgage payments by refinancing to extend the term of your loan or reduce your interest rate.
2. Reinstatement: Make your mortgage current with a lump sum payment.
3. Forbearance: Temporarily pause or reduce your mortgage payments for a defined period.
4. Repayment: Catch up on missed payments gradually by adding a portion of the past-due amount to your regular mortgage payments over an agreed-upon period.
5. Deferment: Move your missed payments to the end of the loan term.
6. Loan Modification: Modify the terms of your loan to reduce the monthly payments.

Depending on your situation, staying in your home may not be possible. The options below may be a better option than foreclosure (subject to approval):

Short Sale

• If your home is worth less that what you still owe on your mortgage, a short sale might be a good option to consider.

Deed-in-Lieu of Foreclosure

• If you're unable to sell your home, a deed-in-lieu of foreclosure will allow you to transfer ownership to HRCU.

To find out if you qualify for any of the hardship or liquidation options described above, complete HRCU's Financial Assistance Response Package and follow the instructions to submit it. Once we receive your submission, someone from our Special Accounts Department will reach out to discuss the next steps. Please continue making your mortgage payments as scheduled, even after submitting your request.

If you have any questions, we invite you to contact our Special Accounts Department at specialaccount@hrcu.org or call us at 603-634-8354. We're here to stand by you and help you find the solutions that make the most sense for your unique situation.

We understand that life happens and sometimes you just need extra space in your budget. Our Skip a Payment and Loan Modification options make that possible. We're here to give you extra flexibility with no judgment or hassle, designed to help you stay on track. 

Skip a Payment

• An option to provide you with extra flexibility to help you stay on track. 
• Available on eligible HRCU auto loans, personal loans, and recreational loans. 
• $25 processing fee applies and must be received at least 4 days before your due date.* 
• Limited to two (2) skips per loan in a rolling 12-month period. 

Fill out the Skip A Payment application and return it to us by dropping it off at a branch, emailing it to specialaccount@hrcu.org, or mailing it to P.O. Box 2078, Rochester, NH 03866.

Loan Modification

• Modify the terms of your loan to reduce the monthly payments. 

If you have any questions, please contact our Special Accounts Department at specialaccount@hrcu.org or call us at 603-634-8354. We're here to stand by you and help you find the solutions that make the most sense for your unique situation.