(i) Options that may be available to borrowers who are unable to afford their mortgage payments and who wish to avoid foreclosure, and instructions to borrowers advising them on steps to take to explore those options;
Should financial position of a borrower suffer an adverse change due to unforeseen circumstances and the Borrowers becomes unable to afford their mortgage payments, options in the Muckleshoot lending policies allow for either :
a. forbearance, under which the borrower is required to pay only the escrow amounts for property taxes and interest for up to twelve (12) months, or
b. modification, under which the loan payments are re-amortized over a new 360-month period.
To pursue either of these options, the borrower should contact the Muckleshoot Housing Authority in writing, requesting to explore these options.
Prior to a meeting with Muckleshoot Housing representatives to discuss these options, a borrower should send to the Authority copies of the last two (2) filed Federal Income returns, copies of any paychecks and/or other form of payment for earnings during the last sixty (60) days and a projection of expected earnings for the next twelve (12) months.
To reach a Muckleshoot Housing representative , a Borrower can call 253-833-7616 or email email@example.com. The Tribe does not have toll-free incoming telephone numbers, therefore email offers a charge free contact if such is originated from outside the free calling area of the 253 area code.
Housing counselors and legal assistance may be available at little or no cost to you. If you would like assistance in determining your rights and opportunities to keep your house, you may contact the following: