Loan Help Center

Mortgage Loan Assistance

Having problems making your mortgage payments?

This information may be helpful, whether your residential mortgage loan is with Pacific Western Bank or with another lender.

NOTE: If your mortgage loan is with another lender, contact your lender to determine what programs it may offer.

If your mortgage loan is with Pacific Western Bank and you have fallen behind in your payments or simply cannot afford your monthly mortgage payments and wish to avoid foreclosure, you should consider the following options:

  1. Reinstate the loan. You should make every effort to pay all past due payments as soon as possible. This will avoid the application of default interest, late charges, foreclosure, and other fees which may be applicable to your loan and added to the balance of your loan. 
  2. Restructure the loan. You may qualify for a loan restructure. Eligibility for a loan workout or modification of loan terms depends on a number of factors, including the value of your property and your ability (based on your current income) to make monthly mortgage payments in accordance with the workout or modification.

REQUIRED DOCUMENTATION FOR THIS OPTION: For a loan restructure, you will need to provide Pacific Western Bank with specific financial information, including:

  1.  Refinance all existing liens on the property with long term financing. There are numerous lenders which provide loans to borrowers who are facing foreclosure if there is sufficient equity in the property. Unfortunately, Pacific Western Bank does not make such loans.
  2. Sell the property. You may simply want to sell the property before the foreclosure sale date. Once a property is in escrow and the buyer has been approved for financing, we may agree to a short term postponement of the foreclosure sale (30-45 days) in order to allow the sale to be completed provided that there will be sufficient proceeds from the sale to pay off the Bank's lien in full. You will need to provide us with a copy of the fully executed sales agreement. 
  3. Negotiate a short sale of the property. If you elect to sell the property, we may agree to a short sale which will allow the property to be sold before the foreclosure date. 

REQUIRED DOCUMENTATION FOR THIS OPTION: For a short sale, you will need to provide Pacific Western Bank with:

  • Copy of fully executed purchase contract.
  • Estimated Settlement Statement prior to close of the transaction.
  • Certified Final HUD-1 Settlement Statement.
  1. Bankruptcy. You may elect to explore bankruptcy protection with counsel of your own choosing. 
  2. Foreclosure. You may also elect to allow the property to be sold at a foreclosure sale conducted by the Bank.

If you are interested in exploring any of the options listed above, you will need to contact Pacific Western Bank at 877.245.4887 during our normal business hours of 9 am to 4 pm. You can discuss what option would be most beneficial to you. 

Hearing or speech challenged? Please use your TTY or dial 711 for assistance in contacting us. Language translation services are available upon request. Or, you may write to us at: Pacific Western Bank, Small Business and Consumer Lending Group, 900 Canterbury Place, Suite 101, Escondido, CA 92025.

You can also contact the Department of Housing and Urban Development (HUD) to find a HUD-certified housing counseling agency by calling 800.569.4287. Information can also be found on HUD's website at www.hud.gov.

MILITARY PERSONNEL/SERVICEMEMBERS: If you or your spouse is a member of the military, please contact us immediately. The federal Servicemembers Civil Relief Act and comparable state laws afford significant protections and benefits to eligible military service personnel, including protections from foreclosure as well as interest rate relief. For additional information and to determine eligibility, please call our Military Assistance Team at 877.245.4887.