Mortgage Payment Assistance
The past few years have been financially difficult for many people. If you've been dealing with a legitimate hardship, there are ways we can help you stay in your home, and get back on the 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. It's all part of our mission to keep the lines of communication open so you get the help you need.

A loan modification is a permanent change in one or more of the terms in your loan and results in a lower monthly payment. Examples include 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 pages to 602-634-2993. Please keep in mind during periods of heavy volume the response time may take several weeks.

Loan Modification Instructions and Disclosures

Uniform Borrower Assistance Form

Form 4506-T

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Short Sale

A short sale is selling your home for less than the total amount you owe on your property, a method commonly used to try to avoid foreclosure. For a short sale to work, 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

There is a negative impact on your credit with the short sale option, so you should explore all your other options first. However, the negative impact may be less than you would have with a foreclosure. You should contact a tax professional to become aware of any tax implications.

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

Short Sale Instructions and Disclosures

Short Sale Policy Agreement

Uniform Borrower Assistance Form

Form 4506-T

Home Affordable Refinance Program (HARP)

If you are current on your mortgage and have been unable to obtain a traditional refinance because the value of your home has declined, 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 Schools 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 31, 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 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 or by phone at 602-335-5676 or 800-456-9171 (x35676). Please provide your name and account number, as well as any new information to be considered. A member of our team will contact you within 3 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.