Please contact Redwood Capital Bank immediately if you are struggling to afford your monthly mortgage payment or if you think you may need help avoiding foreclosure. The sooner we can evaluate your circumstances, the more options you may have available to you to avoid foreclosure.
In accordance with California Civil Code Section 2923.5(g), if you cannot afford your monthly mortgage payments and wish to avoid foreclosure, you may be eligible for a loan "workout" or modification. Redwood Capital Bank determines eligibility for loan "workouts" on a case-by-case basis. Among other things, we will consider the value of your property and your ability (based on your current income) to make monthly mortgage payments in accordance with the "workout."
If you are interested in exploring any of the options listed above, you will need to provide Redwood Capital Bank with certain financial information, including but not limited to the following:
- Last two years' tax returns
- Current financial statement (including a list of monthly income and expenses)
- Verification of income (most recent pay stub)
- Current bank statements
- The current valuation of your property (appraisal)
This is a partial list and each situation will differ.
If you would like to discuss your options to avoiding foreclsoure, please contact Redwood Capital Bank at (707) 444-9804.
You may also contact the Department of Housing and Urban Development (HUD) to find a HUD-certified housing counseling agency by calling (800) 569-4287. Additional information is made available by HUD on its website at www.hud.gov.