Luther Burbank Savings may be able to help customers who are having trouble making their mortgage payments.
If you cannot afford your monthly loan payment and wish to avoid foreclosure, you may be eligible for mortgage assistance. We determine eligibility on a case-by-case basis. Among other things, we will consider the value of your property and your ability to make monthly loan payments (based on current income).
We are here to help with options that may assist you in getting back on track such as a forbearance plan or hardship loan modification. In order to be evaluated for mortgage assistance, you will need the following information:
- Schedule of Real Estate Owned
- Most recent pay stubs for one month for all borrowers; or if self-employed, the most recent year income tax return and current year-to-date profit and loss statement
- If junior liens exist on the property (e.g. a second mortgage or home equity line of credit), a copy of the current loan statement from your lender(s) and documentation of any payment arrangement made subsequent to the original loan
- Copy of current listing agreement if property is listed for sale
- Most recent bank statement(s)
- Signed 4506T Form to verify income tax returns
- Additional documentation may be requested
To request mortgage assistance, or to discuss your options to avoid foreclosure, please call us at 888-578-4596, Monday – Friday, 8:00am to 5:00pm (PT).
When you have completed a mortgage assistance package, you may return it to us:
- Via facsimile to 707-581-2109; or
- Via mail to 520 Third Street, 4th Floor, Santa Rosa CA 95401; or
- Via secure email to firstname.lastname@example.org. Secure email instructions will be provided along with the Mortgage Assistance Application.
We may postpone any pending foreclosure action upon receipt of a completed Mortgage Assistance Application and required documentation. Failure to provide the requested information could forfeit your rights to any foreclosure prevention alternatives.
Our agreement to review your loan does not mean that we will approve an alternative arrangement. If it is determined that you do not qualify for any foreclosure alternatives, we will advise you in writing.
You may contact The Department of Housing and Urban Development (HUD) at 800-569-4287 to find a HUD-certified housing counseling agency. Additional information is available on the HUD website.
Important: For security and privacy reasons, please do not send an email to Luther Burbank Savings which contains personal or financial information such as Social Security numbers, usernames, passwords, account number(s), or credit card number(s). If you have any questions or concerns, please contact us at 888.578.4495, Monday – Friday, 9am to 5pm (PT).