Real estate firm Pacific Security (previously Pacific Security Financial) has seen better days. The company has been in the process of liquidating its property portfolio (located in Washington, Idaho, and California) in order to pay off $6 million in debentures to bondholders and other creditors. It plans to pay all debts in full and restart its property investment activities. Wayne Guthrie founded Pacific Security as a homebuilder in 1957; the firm evolved over the years into a mortgage finance business and a commercial property investment and development firm. Pacific Security is still owned by members of the Guthrie family.