Foreclosure and Homeownership Alternatives
If you are a homeowner experiencing temporary or permanent financial difficulties and are worried you will be unable to pay your mortgage, please let us know.  Depending on your financial circumstances, there may be options available which could avoid foreclosure.   Islanders Bank is more than willing to work with you to find a mutually agreeable way to help you keep up with your mortgage payments and preserve your home. Below is a list of the options we have available to assist you and your first steps in pursuing these options.

  • Reinstate
  • Refinance
  • Repayment Plan
  • Temporary Forbearance
  • Pre-foreclosure Sale
  • Loan Modification
  • Deed in Lieu of Foreclosure 

To discuss any of these options please call 1-800-843-5441 and ask for the Loan Department.  A complete financial packet may be required depending on the option you choose from above.

Financial Packet Requirements 
If a financial packet is requested for the option you choose, the following documents will be required in order to evaluate your financial situation completely. You will find it very helpful to have them available when speaking to a housing counselor.

    1. Completed Financial Statement Form (contact us for the form)

    2. Copy of most recent tax return

    3. Proof of household income including:

        • Last two months pay stubs
        • Any rental income
        • Unemployment income
        • Social security or disability benefits
        • Child support or government assistance
        • Last two months bank statements

    4. Outstanding medical bills

    5. Letter of hardship

    6. Depending on the situation and type of assistance we may be able to offer, further documentation may be required at a later date

Beware of Foreclosure Rescue Scams.  Help is Free!
There is never a fee to get assistance or information regarding alternatives to foreclosure. For a HUD-approved counselor, visit: http://www.hud.gov/offices/hsg/sfh/hcc/fc/.

Who Should You Contact With Questions?
If you are experiencing temporary or permanent financial difficulties, please call Islanders Bank at 1-800-843-5441 and ask for the Loan Department to discuss your situation and available options in detail or to schedule an appointment. Our hours are Monday – Friday 8:00 a.m. – 5:00 p.m. (PST). Please be aware that early intervention is the best indicator of success in retaining homeownership. We look forward to serving you.

Additional Assistance and Resource Contacts:
The following resources may provide you with important information and assistance:

Servicemembers Civil Relief Act (SCRA) Benefits
Eligible servicemembers and their spouses or civil partners may receive:

  • Foreclosure protection
  • Fee protection
  • A special loan modification program for those facing financial challenges
  • A reduced mortgage interest rate without fees or refinancing

These benefits last for 12 months after the end of Active Duty Orders.  If you are an active duty member of the military, including the Reserves or National Guard, and your loan was originated prior to your active duty date, you may be eligible for benefits.