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Financial Assistance and Loan Programs

Take advantage of special financial assistance and loan programs for those directly impacted by the Carr Fire.

Call (530) 222-6060 x516

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Carr Fire FAQs

General Mortgage Info

My house burned down. What happens to my mortgage?
  • If you haven’t done so already, contact your insurance company to start the claims process.
  • Second, call the lender(s) that holds your first and second mortgage. Depending on the first mortgage, you could have the option of a two- or three-month deferment/forbearance.
  • If you choose to defer your monthly mortgage payments, our Financial Assistance team can assist you (530) 222-6060 ext. 466.
I lost my home paperwork in the fire. Can Members 1st help me obtain my deed of trust and/or appraisals?

Yes – if you have your mortgage loan with Members 1st, we can help you obtain a copy of your deed of trust and appraisal.

Is Members 1st offering discounted mortgage rates or special loan programs specifically for fire victims?

Members 1st is offering deferred payments on Members 1st loans if you are having financial challenges making your regular payments as a result of the fires.

Is Members 1st offering special loans for first responders (Hero loans)?

Members 1st is offering deferred payments on Members 1st loans if you are having financial challenges with making your regular payments as a result of the fires.

Will Members 1st “call my loan” due (i.e., require loan to be paid in full)?

No. Members 1st is working with all affected members to reach the best solution for their individual situation.

What if I only have partial damage to my property but not a total loss?

Please contact your insurance agent directly for coverage and claim information.

Will I still have access to my available balance on my HELOC?

Yes – at this time you can still access your HELOC funds.

Can I get 100% financing (FHA program)?

Members 1st does not offer those programs. Please visit our website for home loan options. You may qualify for an FHA loan through our mortgage lending partner.

Can I qualify for a new mortgage loan?

Apply online or contact our Mortgage Loan Department (530) 222-6060 ext. 516 for help with the process.

Will you honor my rate if I pay off my loan and take out a new one?

To maintain your current interest rate, you must continue to make your payments as scheduled.

What if I want to pay off my mortgage and sell my land?
  • Contact Members 1st Loan Center (530) 222-6060 ext. 516 if your mortgage is with Members 1st (otherwise contact your lender).
  • Contact a realtor to sell your land.
  • At that point, we can prequalify you for a new home loan if desired.

Mortgage Payments

I lost my job and cannot pay my mortgage payment – what do I do?

If your home loan is with Members 1st, contact our Financial Assistance team (530) 222-6060 ext. 466 for options on payment deferral and other options.

Should I stop making payments?

No, you should continue to make payments on your loan. Please contact our Financial Assistance team (530) 222-6060 ext. 466 if you are experiencing financial challenges related to the fires that are affecting your ability to make payments.

How long do I have to pay off my loan if the collateral was destroyed?

You have up to 24 months to complete the rebuilding process or pay your loan off. You must continue to make your loan payments during this time. Please contact our Loan Center (530) 222-6060 ext. 516 if you have additional questions.

I need a payoff letter for my mortgage loan sent to my insurance company – how do I get that?

Please contact Members 1st Loan Center (530) 222-6060 ext. 516 to obtain this. Expect a maximum 2 business day turnaround time.

Can I use insurance funds as a down payment on a new purchase (when existing home burned down)?

Once your existing mortgage loan is paid in full, this may be an option – we recommend you consult your accountant.

Do I have to pay off my existing loan if I do not want to rebuild?

Yes - if you are not planning on rebuilding you will need to pay off your first mortgage and second mortgage (if applicable). If you do not wish to rebuild, you can pay off your loan and sell your land.

What is forbearance?

Forbearance allows the mortgage holder to defer (or skip) a payment during a difficult time. How it works depends on your loan type – please contact Members 1st Financial Assistance team (530) 222-6060 ext. 466 for assistance if you need to request payment deferral.

I deferred payments on my Members 1st loans; what happens next?

Deferment terms vary depending on your loan type. Please contact Members 1st Financial Assistance (530) 222-6060 ext. 466 team for guidance.

Does deferring mean that I am skipping payments or delaying them?

Deferment means that you are delaying payment.

Terms of deferment vary depending on your mortgage loan type. Please contact the Members 1st Financial Assistance team (530) 222-6060 ext. 466 to help you determine what type of mortgage you have and review deferment options with you.

How will deferring payments affect my credit score?

Deferred payments as a result of the fires will not affect your credit score.

Does my loan still accrue interest with the payment deferments?

Yes, interest continues to accrue on your loan during the deferral period.

Rebuilding

Should I rent and rebuild, or buy?

The decision to rebuild may be tied to the benefits from your insurance policy. You will likely have a limit to benefits for rental reimbursement so the time to rebuild may be an issue.

I got my insurance check - now what?
  • Your check will be payable to you and your lender. If Members 1st Credit Union is your lender, please mail to Members 1st Credit Union– Loan Center, P.O. Box 492395 , Redding, CA 96049 or deliver the check to one of our branches and it will be sent to our Loan Center.
  • Once you have received your insurance check, Members 1st must endorse it. You then have two choices, depending on your choice to rebuild your home or not:
    • You may pay your loan in full, or
    • Continue to make your mortgage payments as usual, and we will hold the balance equal to your loan or loan(s) in an escrow account until you’re ready to rebuild your home.
Can I deposit my insurance check at an ATM or with the mobile app?

If the check is made out to both Members 1st and you as payees, Members 1st must also endorse the check, so insurance checks payable to you and Members 1st must be deposited by mail or in a branch.

Please mail to Members 1st Credit Union– Loan Center, P.O. Box 492395 , Redding, CA 96049. If you are the only payee listed on your insurance check you can deposit it at the ATM or via mobile deposit (If depositing your check via mobile deposit, please be sure that your check includes all mobile deposit requirements).

If I buy a new home to live in while I rebuild, will that be considered my primary residence?

Yes. We recommend you contact your insurance agent to find out if/how this will impact your living expense reimbursement as provided in your policy.

Funds in excess of your Members 1st mortgage amount can be deposited in any Members 1st account.

Additional resources
  • The State of California offers numerous resources for clean-up, housing, rebuilding, and other services here: http://wildfirerecovery.org/.
  • California State Contractors License Board has great resources for consumers including general contractor look up: http://www.cslb.ca.gov/.

Consumer Loans

My vehicle was destroyed in the fire - what do I do next?
  • Contact your insurance company to begin the claims process.
  • Arrange payoff of your loan with Members 1st (or your lender).
What if my insurance coverage isn’t enough to cover my auto/RV loan payoff?

Contact Members 1st’s Financial Assistance team (530) 222-6060 ext. 466 for repayment options.

Can I get a reduction on my existing Members 1st auto?

We are offering a reduced rate for fire relief – please contact Members 1st Loan Center (530) 222-6060 ext. 516 to apply.

I was evacuated or my house was destroyed can I get a credit limit increase?

Yes. Please contact us at (530) 222-6060 ext. 516.

Is it OK if I live in a trailer (RV) while my house is being rebuilt?

Yes, you will need a permit – please contact your city or county permit department.

I need a payoff letter for my vehicle loan sent to my insurance company – how do I get that?

Contact the Members 1st Loan Center (530) 222-6060 ext. 516 to obtain a payoff letter.

Is Members 1st going to reduce the rates for fire victims and non-fire victims?

We are providing several special loan and financial programs for fire victims. Please contact the Members 1st Financial Assistance team (530) 222-6060 ext. 466 if you need assistance.

Are members going to be allowed to extend deferred payments?

Our Financial Assistance team (530) 222-6060 ext. 466 will work with you to help with payment options.

What if I didn’t have GAP - will I have to pay the difference?

You will need to pay the balance of the loan if you did not have GAP coverage. Please contact our Financial Assistance team (530) 222-6060 ext. 466 if you need assistance.

What is the maximum time that I do not have to make a payment?

Contact our Financial Assistance team (530) 222-6060 ext. 466 to review your payment options.

What if the insurance company has not processed my claim yet but I need a car now?

We recommend checking with your insurance company for rental or other options.

Members 1st is offering special financing to fire victims to assist with immediate needs (this could help cover immediate transportation expenses).

My insurance claim was denied; I don’t have any money to put down as down payment.

Please contact Members 1st Loan Center (530) 222-6060 ext. 516 to review your options.

Should I pay off the loan now and wait for the insurance check to repay myself?
  • You can continue to make payments until you receive the insurance check, or
  • If you have the means to pay off your loan before you receive insurance funds, you can.
Should I stop making payments?

No – please continue to make payments. If fire-related financial challenges are affecting your ability to make your payments, please contact the Members 1st Financial Assistance team (530) 222-6060 ext. 466.

How long do I have to pay off my loan if the collateral was destroyed?

Your loan should be paid off or down by insurance proceeds as soon as they are received. Any shortfall may be repaid over terms, or potentially included in a new auto loan provided by Members 1st, subject to conditions. Contact our Financial Assistance team (530) 222-6060 ext. 466 or Loan Center (530) 222-6060 ext. 516 for information.

Does deferring mean that I am skipping payments or delaying them?

Deferment means that you are delaying payment. Terms of deferment vary depending on your loan type.

How does deferring payments affect my credit score?

Deferred payments as a result of the fires will not affect your credit score.

I don’t know if I have GAP insurance on my car/truck/motorcycle – can you tell me if I do?

If your loan is with Members 1st, we can find this information for you. Contact our Loan Center (530) 222-6060 ext. 516.

Will I have interest on my balance for my credit card?

Yes – interest will continue to accrue. If you’re having financial challenges as a result of the fires, please contact our Financial Assistance team (530) 222-6060 ext. 466.

Small Business

Do any loans exist for small business fire relief?

The Superior California Economic Development Fire Relief Loan Fund was created to boost recovery for small businesses suffering physical or economic losses from the Carr and Klamathon Fires by providing short‐term loan funds for continued business operations. Click here for loan guidelines and application.

Eligible to all Butte, Glenn, Shasta, and Tehama County residents. Join Now