Homeownership Assistance › First Sound Bank

Guide to avoid foreclosure

Experiencing a financial hardship?

If you are unable to afford your mortgage or home equity payments, but want to avoid foreclosure, First Sound Bank can assist you with finding workable solutions. There are many options that may be available to you depending on the type of loan you have with First Sound Bank.

You may be able to refinance your loan, extending the repayment period, thereby lowering the monthly payments;
First Sound Bank may be able to modify your loan, to make your payments more affordable;
You may be able to sell your home and repay your mortgage/home equity loan in its entirety. If your home's value is less than your outstanding loan balance, First Sound Bank may be willing to accept less money than you owe and develop a repayment plan for the remaining amounts due.

First Sound Bank is willing to explore every possible option but please don't wait. Contact our dedicated team as soon as you realize that you are unable to make your payments.

First Sound Bank/Eastside Commercial Bank Mortgage Loan

Call FIRST SOUND BANK at 206.515.2004 (toll free at 1.888.515.2006). In order for us to evaluate your eligibility for these options, please have the following documents available:

Hardship letter explaining why you are unable to make your payments
Recent paystubs or other proof of income (such as social security or retirement income)
Recent statements from all credit union, bank or brokerage accounts
Most recent IRS tax return and all supporting documentation
Property tax statement
List of monthly obligations
You may be required to provide additional documentation depending on your situation

First Sound Bank/Eastside Commercial Bank Equity Loan

Call 206.515.2004 or you may email us at customerservice@firstsoundbank.com . In order for us to evaluate your eligibility for these options, please have the following documents available:

A completed Personal Budget Worksheet
Recent paystubs or other proof of income (such as social security or retirement income)
Recent statements from all bank, credit union or brokerage accounts

Additional assistance and resources to contact

The following resources may provide you with important information and assistance:

You may contact the U.S. Department of Housing and Urban Development (HUD) at 800.569.4287 (or online at http://www.hud.gov/offices/hsg/sfh/hcc/fc) to find a HUD-approved housing counseling agency
FDIC Foreclosure Prevention Information at http://www.fdic.gov/consumers/loans/prevention/index.html
For Washington State properties contact the Washington Homeownership Information Hotline at 877.894.4663 (or online at www.fdic.wa.gov/consumers/education/foreclosure/prevent_foreclosure.htm).