HELOC Payment Problem?
At Cathay Bank, we understand that everyone goes through difficult times. If financial hardships are making your Home Equity payments difficult to afford, let us help you. The longer you wait, or the further you fall behind on your payments, the harder it will be to find a solution.
If you are interested in finding out whether you qualify, please complete and submit the required documents:
IRS Form 4506-T
Individual Financial Statement
Please mail the documents to:
Retail Loan Administration
9650 Flair Drive (EL-7-B)
El Monte, CA 91731
When we receive all the required documents, we will notify you within 5 business days that all required documents are received. We will start the evaluation process and pull your credit report to aid us in evaluating your eligibility. When evaluation is complete, we will send you written notice of the result within 30 days.
If you qualify, you then have 10 days to either accept or reject the offer. If you do not qualify for any of the loss mitigations offer, we will also send you a written notice. You then have 10 days to file an appeal. Your appeal request will be forwarded to another department for a review. You will then be notified of the appeal result within 30 days of your request.
For help exploring your options, Federal government agencies provide contact information for housing counselors, which you can access. These counseling agencies are experienced in providing homeownership credit counseling and will provide information, advice, and assistance to help you become current in your loan payments.
These agencies are approved by the Consumer Financial Protection Bureau (CFPB) and the U.S. Department of Housing and Urban Development (HUD). You can find approved counseling agencies at either agencies websites at:
You may also contact these agencies by calling 1-855-411-2372 for CFPB or 1-800-569-4287 for HUD. Your state housing finance authority may also be able to help. Please visit their website at http://www.ncsha.org/housing-help
The Federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status, age (provided that the applicant has the capacity to enter into a binding contract); because all or part of the applicant’s income derives from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act. The federal agency that administers compliance with this law concerning this creditor is Bureau of Consumer Financial Protection, 1700 G Street NW., Washington, DC 20006.
If you are a member of the U.S. Armed Forces on “active duty” or “active service,” a spouse, or a dependent of such a member, you may be entitled to certain legal protections and debt relief pursuant to the Servicemembers Civil Relief Act. Please click here
for further information.
At Cathay Bank, we value you as a customer and want to ensure your continued satisfaction.