Foreclosure

     (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.



     (ii) A list of financial documents borrowers should collect and be prepared to present to the beneficiary or authorized agent when discussing options for avoiding foreclosure;

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.



     (iii) A toll-free telephone number or charge-free equivalent for borrowers who wish to discuss options for avoiding foreclosure with their beneficiary or authorized agent; and

To reach a Muckleshoot Housing representative , a Borrower can call 253-833-7616 or email ama.tuatoo@muckleshoot.nsn.us.  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.



     (iv) The toll-free telephone number or charge-free equivalent made available by the department to find a department-approved housing counseling agency.

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: