Home Loans
Please call your branch of account to find out how 1st Security Bank can help you with your home loan needs.
Mortgage Payment Options
Are you unable to afford your mortgage payment and worried about the possibility of foreclosure? If so we have some options that may be available for you.
- You may be able to refinance your loan, extending the repayment period and/or reducing the interest, thereby lowering the payment.
- 1st Security Bank may be able to modify your loan, to make your payment more affordable.
- 1st Security Bank may be able to provide you with special forbearance, in light of your current circumstances.
- You may be able to sell your home and repay your mortgage in its entirety. If your home’s value is less than your outstanding loan balance, 1st Security Bank may be willing to accept less money than you owe as a full payment (a short sale).
- You may be able to surrender the deed to your house voluntarily, to avoid the foreclosure process.
In order to evaluate your eligibility for these options we must review some documents. Please have the following documents available for review when you give us a call to discuss your options:
- Recent pay stubs (or other proof of income, such as SSI payments or retirement income).
- Your recent bank or credit union account statements.
- Current tax return and all the supporting documentation.
- Property tax statement.
- List of monthly expenses and any documentation to support these items.
- A hardship letter explaining why you are unable to make your payment.
To explore any (or all) of these options regarding your mortgage loan, contact 1st Security Bank at our toll-free number 800.683.0973 ext. 3000.
In addition, there are also two other agencies which will help you find a certified housing counseling agency. They are:
- Washington’s Department of Financial Institutions 877.894-4663 (877.894.HOME)
- The office of Housing and Urban Development 800.569.4287