See our loan specialists for the money you need.
Contact our friendly and helpful loans officers to discuss your financial needs at (866) 776-2265.

CA Foreclosure Relief Bill (SB 1137)

An announcement from Professional Business Bank - Spectrum Bank

If you cannot afford your current mortgage/loan payments and wish to avoid foreclosure, you may be eligible for a loan "workout" or modification. Professional Business Bank - Spectrum 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 loan payments in accordance with the "workout." You may also qualify to refinance your current loan with us.

If you are interested in exploring one of the options listed above, you will need to provide us with certain financial information, including the following:

  1. A COMPLETE Personal Financial Statement from each borrower and/or guarantor (form available)
    • The statement should be no more than 90 days old
    • It should be signed and dated
    • Please include copies of Statements for all accounts listed
  2. Copies of the most recent federal tax return for each borrower and/or guarantor
  3. A current valuation/appraisal of your property, if available
  4. COMPLETE Interim Financial Statements for the primary business entity and/or any affiliates
    • The statements should include a Statement of Profit/Loss and a Balance Sheet
    • The statements should be signed and dated
    • Please include a detailed debt schedule (form available)
    • Please include detailed agings of Accounts Receivable and Accounts Payable
  5. Other documents as may be requested by Professional Business Bank, Spectrum Bank and/or the Small Business Administration (if applicable)

If you would like to discuss your options to avoid foreclosure with us, please call your Professional Business Bank/Spectrum Bank account officer or Credit Administration at 1.866.PRO.BANK (866.776.2265). 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 (TTY: (800) 877-8339). Additional information is made available by HUD on its website at http://www.hud.gov.

This information provided by PBB in accordance with California Civil Code Section 2923.5(g)(1))

*Based on approved credit. Details of each credit product offered by Professional Business Bank and Spectrum Bank may be obtained by contacting any of our banking offices.
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