Options for Homeowner Assistance

WaFd Bank’s Loss Mitigation Department is here 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 you are:

  • Refinance: You may be able to refinance your loan with us or another lender.
  • Modification of your Existing Loan: You may be able to adjust your current loan terms with us.
  • 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.
  • 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, please call (800) 318-5320, email lossmitigation@wafd.com, or stop into any WaFd Bank branch. In addition to completing an application and forms that we will provide, the following financial information is also needed:

  • Prior two (2) years signed tax returns with all schedules
  • Prior two (2) months pay stubs
  • Prior two (2) months bank and investment account statements
  • A letter detailing the financial difficulties and the assistance requested (“hardship letter”)

There may be additional documentation or information requested upon review of your application.

Additional Resources

For additional help in exploring your options, the Federal government provides a list of Housing and Urban Development (HUD) approved, nonprofit, home ownership counseling organizations:

United States Department of Housing and Urban Development (HUD)

Toll-free: (800) 569-4287