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Call our Mortgage Collection department at (425) 697-8150 or email us at to speak to one of our representatives, Monday to Friday, 9am to 5pm.

Common questions about loan and mortgage forbearance

Please watch the video and read the FAQ below to educate yourself on loan forbearance. A forbearance can provide immediate relief in a time of a COVID related emergency and is certainly an option to consider. However, borrowers should normally only request a forbearance if there are no other alternatives.

A: Those who are directly or indirectly impacted by COVID-19. If the reason for your request is due to another concern we have other programs available to help.

A: If you have been financially impacted by COVID-19, different solutions are available depending on the investor of your mortgage. Contact us and we can explain your forbearance options. A mortgage forbearance is an agreement between you and your mortgage servicer that lets you stop making payments on a temporary basis during your hardship.

It's important to note that mortgage forbearance is not mortgage forgiveness, meaning you still have to pay back what you owe.

A: The repayment options may vary depending on who your mortgage investor is. A representative from our team will reach out to you 30-60 days prior to the end of your forbearance term to discuss all repayment options.

A: A balloon payment is a lump sum payment of an amount due. As an example, if the forbearance period is for 3 months and each monthly payment is $3,000 the balloon payment due at the end of the forbearance period is $9,000.00.

A: We will report your loan status as approved forbearance in accordance with the CARES act rules.

A: No. For borrowers who demonstrate they have been impacted by COVID-19, 1st Security Bank will waive late fees for the period of time your loan is in forbearance. You will continue to receive monthly statements showing the activity on your loan, including the accumulating payments.

A: No. During the COVID-19 forbearance period your loan will not be referred to foreclosure.

A: Yes. You can call or email us at least 3-business days before the withdrawal date and we will cancel your autopay.

A: If you have been impacted by COVID-19 and would like to request a payment forbearance, you may email us at Please provide your full name, loan number, and a good contact phone number and we will reach out to you within two business days. You may also submit the form at the top of this page or call us directly at (425) 697-8099 to reach a representative. Our hours of operation are Monday through Friday, 8:00am. to 5:00pm PT.

A: Our branch lobbies are open normal business hours from 9am to 5pm, Monday through Friday.