St Helens Community Federal Credit Union

This loan originated 7/22/for an amount of $204,as a year balloon The balloon was extended in and 2013, coming due again in March In July 2014, we were notified of unpaid taxes that would put the home into foreclosure To avoid foreclosure an advance was made to pay the taxes; increasing the loan balance to $206,187.00; at the time of the advance the SHCU counseled the [redacted] on what was needed to be done by January in order to rewrite the loan in March when the balloon came due Unfortunately the request in March was denied Reasons: Credit History Excessive Debt to IncomeThe denial was not a case of bait and switch or retaliation for government assistance The loan request did not qualify under our lending guidelines

This loan originated 7/22/2009 for an amount of $204,000.00 as a 2 year balloon.  The balloon was extended in 2011 and 2013, coming due again in March 2015. In July 2014, we were notified of unpaid taxes that would put the home into foreclosure.  To avoid foreclosure an advance was...

made to pay the taxes; increasing the loan balance to $206,187.00; at the time of the advance the SHCU counseled the [redacted] on what was needed to be done by January 2015 in order to rewrite the loan in March 2015 when the balloon came due.  Unfortunately the request in March was denied.    Reasons:         Credit History         Excessive Debt to IncomeThe denial was not a case of bait and switch or retaliation for government assistance.  The loan request did not qualify under our lending guidelines.