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In accordance with California Civil Code Section 2923.5(g)(1), if you cannot afford your monthly mortgage payments and wish to avoid foreclosure, you may be eligible for a loan “workout,” modification, or refinance. We determine eligibility for loan “workouts,” modifications, and refinances on a case by case basis. Among other things, we will consider the value of your property and your ability (based on your current income) to make monthly mortgage payments in accordance with the “workout,” modification, or refinance.
If you are interested in exploring any of the options listed above, you will need to provide us with certain financial information, including the following: your most recent paystub, a current financial statement, including a list of current monthly income and expenses, your most recent tax returns, bank statements, and a current valuation of your property, (such as an appraisal).
If you would like to discuss your options for avoiding foreclosure with us, please call the Bank at 1-800-960-2323 to speak with your lender.
You may also contact the Department of Housing and Urban Development (HUD) to find a HUD-certified housing counseling agency by calling 1-800-569-4287. Additional information is made available by HUD on its website at http://www.hud.gov.