Franklin Mint Federal Credit Union offers a variety of options for members who have difficulty making their loan payment. Loss Mitigation options available are:
- Loan Modification
These options pertain only to Close End Dwelling Secured Loans. For options on any other type of loans, please contact our Credit Solutions Department at 610-359-3997.
The following options will be considered only if specifically requested and on a case-by-case basis.
- Short Sale
- Deed-in-lieu of Foreclosure
To be considered for a Loss Mitigation Option, complete a Loss Mitigation Application. For an application to be considered “complete,” it must contain the following:
- A written request that explains the circumstances of the inability to make the required payment. Also include your account number, name, and address. All of the following required documentation must be enclosed with the written request:
- Proof of hardship
- Budget worksheet
- Superior Mortgage statements, if applicable
- Most recent tax return and a current paystub
The completed application must be mailed to:
Franklin Mint Federal Credit Union
Loss Mitigation Department
5 Hillman Drive, Suite 100
Chadds Ford, PA 19317-9998
Help is also available from the Federal or State Government Mortgage Assistance programs. Use the information below to explore additional options.
U.S. Department of Housing and Urban Development
451 7th Street S.W., Washington, DC 20410
Telephone: (202) 708-1112 TTY: (202) 708-1455
HUD sponsors housing counseling agencies throughout the country that can provide advice on buying a home, renting, defaults, foreclosures, and credit issues. This page allows you to select a list of agencies for each state.
An official program of the Departments of the Treasury & Housing and Urban Development. You can also call 1-888-995-HOPE (4673) to speak to an expert advisor immediately, 24 hours a day, 7 days a week, 365 days a year, in over 170 languages. They answer 98% of their calls within 30 seconds. This valuable, around-the-clock service is available completely free.