Whatever happens,
we are there for you

Our mortgage payment assistance plans can get you back on your feet.

Sometimes unexpected events can make staying on top of mortgage payments a challenge. If you've been dealing with a legitimate hardship, there are ways we can help you to stay in your home and get back on track financially.

Loan modification programs can help those in danger of foreclosure, and there are proactive steps you can take in order to expedite the process of modifying your loan. It's all part of our mission to keep the lines of communication open so that you get the help you need.

A loan modification is a permanent change in one or more of the terms in your loan, and it results in a lower monthly payment. For example, you could receive a reduction in your rate or an extension of your loan term. A loan modification is not a reduction in principal.

If you’re experiencing a hardship and would like to be considered for a loan modification, download and complete our loan modification forms below, including the Uniform Borrower Assistance Form (UBAF), and fax all of the pages to 602-634-2993. Please keep in mind that during periods of heavy volume, the response time may take several weeks.

Loss Mitigation Solicitation

Form 710 Mortgage Assistance Application

4506T (v2017)

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Short Sale

A short sale involves selling your home for less than the total amount that you owe on your property; this method is commonly used in an attempt to avoid foreclosure. In order for a short sale to be successful, you must find a qualified buyer, and your lender must agree to accept the sale.

A short sale may be an option for you if are experiencing all of the following:

  • A hardship—such as a job loss, divorce or medical emergency
  • Inability to afford your current home loan
  • Inability to modify your current home loan

A short sale negatively impacts your credit—although to a lesser degree than does a foreclosure—so you should explore all of your other options first. We recommend contacting a tax professional to become aware of any tax implications.

If you have a signed contract for a short sale that you would like Desert Financial to consider, download and complete our Short Sale forms found below, including the Uniform Borrower Assistance Form (UBAF), and fax them along with the contract and supporting documentation to 602-335-2994 or email them to short.sales@desertfinancial.com.

Short Sale Instructions and Disclosures 2018

Loss Mitigation Solicitation

Form 710 Mortgage Assistance Application

4506T (v2017)

Home Affordable Refinance Program (HARP)

If you are current on your mortgage and have been unable to obtain traditional refinancing due to a decline in the value of your home, you may be eligible to refinance through the Home Affordable Refinance Program (HARP). HARP is designed to help you refinance into a new affordable, more stable mortgage. HARP is unique in that it is the only refinance program that enables borrowers who owe more than their home is worth to take advantage of low interest rates if their home is already financed by Fannie Mae or Freddie Mac. Desert Financial is currently participating in this program and has already helped hundreds of members with negative equity refinance their Fannie Mae (FNMA) and Freddie Mac (FHLMC) home loans.

In general, borrowers must meet the following criteria:

  • The mortgage must be owned or guaranteed by Freddie Mac or Fannie Mae.
  • The mortgage must have been sold to Fannie Mae or Freddie Mac on or before May 31st, 2009.
  • The mortgage cannot have been refinanced under HARP previously unless it is a Fannie Mae loan that was refinanced under HARP from March–May, 2009.
  • The current loan-to-value (LTV) ratio must be greater than 80%.
  • The borrower must be current on the mortgage at the time of the refinance, with no late payment in the past six months and no more than one late payment in the past 12 months.

For any additional questions, we encourage you to schedule an appointment with one of our mortgage loan officers at a branch, or by calling 602-433-HOME (4663) for more details.

You can move forward in the application process in one of four ways:

  • Apply online at Home Loans.
  • Call 602-433-HOME (4663).
  • Schedule an appointment at your local branch to speak with a mortgage loan officer in person.
  • Use the form at the top of the page to have a representative contact you.

Need Additional Assistance?

If you have already submitted your request for a foreclosure-prevention alternative and are not satisfied with the outcome, your case can be re-evaluated by our escalations team. Contact us via email at escalations@desertfinancial.com or by phone at 602-335-5676 or 800-456-9171 (x35676). Please provide your name, account number and any new information to be considered. A member of our team will contact you within three business days to confirm receipt of your inquiry and obtain additional information, if needed. Your case will be re-evaluated and resolved within 15 business days.

If you aren’t experiencing a hardship and would like to lower your interest rate, you may be eligible to refinance your loan. For more information about refinancing your mortgage, apply online or speak with one of our mortgage experts.

*Mortgage loans are offered by Define Mortgage Solutions, LLC, NMLS ID #1761612, a wholly owned subsidiary of Desert Financial Federal Credit Union. BK#0949053

*Participation in the Real Estate Broker Program is voluntary. Desert Financial Federal Credit Union and its wholly owned subsidiary Define Mortgage Solutions LLC do not receive any benefit, monetary or otherwise, from the Participating Broker under this program. Participating Brokers are non-affiliated third parties of Define Mortgage Solutions LLC and Define Mortgage Solutions LLC makes no warranties or representations about the services provided by Participating Brokers. To participate in this program, the member does not have to finance mortgage loan through Define Mortgage Solutions LLC. For full program details, see the Real Estate Broker Program Member Notice Acknowledgement.