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California Forclosure Relief Information

If you cannot afford your monthly mortgage payments and wish to avoid foreclosure, you may be eligible for a loan “workout” or modification. We determine eligibility for loan “workouts” 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.” You may also qualify to refinance your current loan with us through other loan restructuring alternatives.
 
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, list of current monthly expenses, your most recent tax return, bank statements, a current valuation of your property, if available (such as an appraisal). The Bank will also require: 

  • An updated loan application
  • A current personal financial statement
  • 3 years tax returns
  • 3 years income and expenses


If you would like to discuss your options to avoiding foreclosure with us, please call the Bank’s Senior Lending Officer, CREDIT ADMINSTRATION, COMMUNITY BUSINESS BANK at the following toll free number: 1-877-377-9077.

You may also contact the Department of Housing and Urban Development (HUD) to find a HUD certified housing counseling agency by calling HUD’S TOLL-FREE TELEPHONE NUMBER at 1-800-FED-INFO (333-4636). Additional information is made available by HUD on its website at http://www.hud.gov.