Consumer complaint received 2024-09-30
Product: Mortgage — Home equity loan or line of credit (HELOC)
Issue: Struggling to pay mortgage — Trying to communicate with the company to fix an issue related to modification, forbearance, short sale, deed-in-lieu, bankruptcy, or foreclosure
Company: Statebridge Company (CA)

Since the receipt of a response on XX/XX/XXXXXXXX XXXX XXXX from attorneys hired by Statebridge, the following has occurred. The issues remain the same : Statebridge persists in claiming that I owe them funds for a second mortgage that I modified in XX/XX/XXXX, even though they have been given concrete evidence that a modification took place. The documents provided to them include the signed and notarized modified agreement, emails to and from the original mortgage holder, letters from the mortgage holder congratulating me on the modification, other correspondence, and notes taken contemporaneously by me at the time of the modification. 
Shortly after receipt of the response by Statebridges attorneys from XXXX XXXX XXXX XXXX, it became clear that Statebridge intended to press on with their efforts to take my family home of XXXX years. To protect my interests, I had no choice but to engage a law firm that specialized in real estate litigation. 
The following has occurred subsequent to filing my complaint : XXXX. In their response to the CFPB, Statebridges attorneys stated, Statebridge and its investor have no knowledge or documentation regarding any modification of the Loan following origination. Likewise, there is no indication in the Borrowers bankruptcy proceedings that the loan was avoided or eliminated by the bankruptcy. Of course, if documentation is provided to support the Borrowers claims that the Loan was actually consolidated or modified in conjunction with the first priority deed of trust or that deed of trust lien was adversely impacted by the bankruptcy in some way, Statebridge and its investor are willing to review and consider such documentation to determine any impact on the amounts remaining due under the Loan. 

In response to this invitation, my attorney sent through a letter on XX/XX/XXXX, that included the timeline of the modification and documentary evidence that the modification had taken place in XX/XX/XXXX. Documents attached to the letter to Statebridges counsel included the notarized modified agreement signed by both me and a representative from XXXX, letters from XXXX congratulating me on modification, email correspondence between me and a representative of XXXX other items requested by and sent to XXXX, and notes taken by me during a customer service call to XXXX when I received the modification agreement to aid my understanding of the terms.

In addition, my attorney requested legible copies of the accounting provided ( our copy was illegible in areas ) and an explanation of why no accounting was recorded by XXXX ( who received the assignment from XXXX ). 
The letter and six exhibits are attached. 
XXXX. Statebridges attorneys responded on XX/XX/XXXX, with a letter and attachments. In short, they did not want to acknowledge the evidence that the modification had taken place by finding fault in how the agreement was drafted. Further, they stated that the amount of the modified loan did not make sense, ignoring the evidence provided to them that a payment of over {$100000.00} was made in XX/XX/XXXX to bring both the first and second mortgages current with XXXX. When that payment is considered, the amount stated in the modification agreement reconciles. An email acknowledging the receipt of these funds by XXXX is attached as Exhibit XXXX. 

In addition, they refused to provide legible copies of the XXXX accounting and explained that there was no accounting recorded by XXXX as the loan had either been charged off or otherwise found to have no value. 

They also provided a XXXX transfer of servicing letter that they claim was sent to me, as evidence that the loan was never modified. I never received the letter, nor any of the items that the letter claimed were being sent to me, such as statements and a new checkbook. Oddly, the letter is addressed to my present-day legal name. 

The response letter from Statebridges attorneys is attached. 

XXXX. To try to resolve the issues with Statebridge, my attorney had a telephone conference with the attorney from XXXX XXXX XXXX XXXX on XXXX XXXXXX/XX/XXXX. In that call, my attorney explained and clarified the documentation, and requested any additional documents that Statebridge had pertaining to the loan. As of today, no additional documents have been provided. 

XXXX. Since filing my original complaint, Statebridge sent me a letter stating that their original accounting of my loan was incorrect, and that they would be sending me revised statements that included the correct amounts. These amounts due were substantial higher than the initial statements had requested. 

The statements since the revision are attached. There is no logical reconciliation of the amounts from month to month, and inexplicably the most recent statement is almost {$24000.00} less than the previous statement. 
While I have supplied information requested by Statebridge, they do not appear to be working in good faith to help me and my XXXX  children stay in our family home. There are two issues : XXXX. Statebridge ( through their attorney ) requested evidence of the modification. Despite being provided with substantial documentary evidence that a modification took place, Statebridge is persisting in trying to collect on a loan that was modified and has been paid as agreed ( to a different servicer ) since XX/XX/XXXX. 
XXXX. Statebridge continues to send me statements without supporting accounting. The relatively illegible accountings they have from XXXX show no payments made past XX/XX/XXXX ; however, evidence has been provided to Statebridge that payments were made in XX/XX/XXXX to bring this loan current. In addition, no accounting was recorded by XXXX when the loan was assigned to them : they coded the loan as charged off/of no value ( according to Statebridges attorney ). The accounting and statements that Statebridge has provided to date have been faulty ( by their own admission ), and from observing the last four statements, inconsistencies abound.

To date, Statebridge Company has demonstrated that it has no intention to work within consumer protection guidelines to help keep me and my children stay in our family home of 18 years and is focused on forcing me and my children out of our home through a forced sale or foreclosure in the imminent future. The only solution that Statebridge has offered me to date is to pay what they are demanding, without any consideration of the underlying information, or they will take my home. 
Thank you for your consideration and any assistance you can provide to help resolve this situation.