Statebridge Company LLC STATEBRIDGE REFUSES TO HELP HOMEOWNERS IN NEED OF LOAN MODIFICATIONS Denver, Colorado

#1.  Mortgage Modifications are difficult to get, and they are usually given only to those home buyers who are experiencing temporary setbacks.

#2.  Contrary to popular opinion, Mortgage Modifications DO NOT REDUCE YOUR BALANCE DUE on the mortgage.  It restructures the interest rate lowering it, and then moves the past due balance to the end of your contract either by making a large Baloon Payment, or by extending the length of your contract.

If the value of the home doesnt support extending the length of your contract, or they feel you will not be able to afford the loan, no matter what the payments have been reduced to, they will cut their losses, and simply foreclose.

Jose, you are 7 payments behind.  I estimate , you being from California, that your payments are at least 1500.00 per month, am I right?  That is 12,000 past due.  I have a feeling you have not kept your home owners insurance current, nor have you paid your property taxes on the home.  This means that in order for your mortgage company to protect them selves from loss of the home, they are having to pay both for you.

This may sound harsh, but Home Ownership is not for every one, so Maria, and Jose, perhaps you should cut your losses, and pack up and move.  It sounds like both of you are up a creek without a paddle, and a wall of s**t is about to hit you head on.

Remember, Home Mortgage Modifications are not required by the Govt, nor can the Govt force them to help you. 

It seems you have listened too much to that Socialist in the White House when he talks about shared responsibility.  This home payment is YOUR responsibility, and if you cannot keep up with your obligation, GO RENT AN APARTMENT!!!!

I have had the same issue with that mortgage company. I tired several times to modify my loan with this company and they kept denying me. The representatives are rude and not helpful at all.

They advised me not to send money while i suppossedly be under review for the modification, but in the meantime sent my loan to foreclosure.  They put me into foreclosure twice from Dec 2012 to current. They received my mortgage in Dec 2012 and had me reported 6 months late..WOW...

I filed complaints with BBB and they removed the foreclosure and applied my fees correctly; however, three months later i was right back in foreclosure awaiting on a modification. That was a joke.. I agree that there should be a class act against this company. I will defintely be on the top of the list.

Ive also attempted numerous times to request to modify my loan with statebridge and I've been declined so many times . I'm currently 7 payments behind waiting for a miracle with this bank . I've sent taxes , bank statements everything and anything the bank has asked me to send and they keep denying me. Every representative I have spoken to is extremely rude and umproffesional . Statebridge has advise me to refinance(????) How can refinance when I'm 7 payments past due. This bank is horrible. Maria , did you find a resolution ? Or are you still having the same problem?

Is anyone out there having the same issue with this bank ?