Consumer complaint received 2024-06-02
Product: Mortgage — Home equity loan or line of credit (HELOC)
Issue: Struggling to pay mortgage — Applying for or obtaining a modification, forbearance plan, short sale, or deed-in-lieu
Company: Statebridge Company (CA)

In late XX/XX/XXXX, I was notified by Statebridge Company that they had purchased my mortgage from XXXXXXXX XXXX  and was instructed to send future payments to them. No amounts due or any other information were given in the initial letter. I contacted XXXX XXXX, and they said they still held my mortgage, and to continue making payments to XXXX, which I still continue to do. 

In early XXXX I received a letter dated XX/XX/XXXX, from Statebridge Company for a total due of {$180000.00}, and information on how to dispute the debt if the amounts were unrecognized. In addition, Statebridge sent a mortgage statement dated XX/XX/XXXX, with an amount due of {$53000.00} stating I was XXXX days delinquent on my mortgage. I did not recognize the debt or amounts, so sent a letter via both email and XXXX on XX/XX/XXXX, to Statebridge requesting verification of debt ( attached ). Statebridge Company did not respond to my request. 

Statebridge sent me a slightly different letter dated XX/XX/XXXX, that stated the total due was now {$180000.00}, and information on how to dispute the debt if it was unrecognized. Statebridge Company then sent me a statement dated XX/XX/XXXX, that stated I was XXXX days late on my mortgage payment, and had an overdue payment amount of {$54000.00} due ( attached ). In addition, I received a letter from Statebridge in early XXXX dated XX/XX/XXXX, acknowledging that they had received my request for information, but they did not provide any information or verifications about the amounts they claimed were due. 

I sent a second letter via email and XXXX requesting verification of the debt and any and all available information on XX/XX/XXXX ( attached ). In response, Statebridge sent me a copy of a note signed in XXXX for a Home Equity Line of Credit ( that had been XXXX in my XXXX bankruptcy and modified with my first mortgage ), and an incomplete loan accounting that began in XXXX, not XXXX ( attached ). I received these items in late XXXX along with a letter dated XX/XX/XXXX. These were the only items that Statebridge Company supplied. 

I submitted a third letter via email and XXXX requesting complete information ( including the note that originated the loan, any modifications or alterations to that note, the accounting of the loan going back to the inception of the loan, and any and all assignments of the loan ) on XX/XX/XXXX. I still have not yet received complete information on this loan from Statebridge despite requesting this information almost 3 months ago. 

Because of the lack of response from Statebridge and in my attempt to protect and save my family home, I began working with a XXXX XXXX  XXXX. As a first step, through his company, I submitted a complete XXXX package to Statebridge Company on XX/XX/XXXX, to request a modification to the debt in the event it could be verified. It included a hardship letter from me ( attached ). This XXXX package was acknowledged as complete by Statebridge on XX/XX/XXXX, and the request for a repayment plan or modification program was denied shortly thereafter on XX/XX/XXXX, stating that the request does not meet XXXX XXXX requirements, and that the only option was full payoff or full reinstatement. ( attached ). The foreclosure prevention XXXX then sent a letter on my behalf appealing this decision, requesting more information about the cause of the denial, and once again requesting complete information about the debt claimed to be owed, but was given no explanation ( attached ) for the denial, cause of the denial, no additional loan information, no understanding of the investors criteria, and the denial was reiterated upon another appeal by the foreclosure prevention XXXX. 

While I am endeavoring to supply 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. The issues are twofold : XXXX. Statebridge has not supplied the requested information to validate the debt, an accounting of the debt since the inception of the loan, all assignments of the debt, and any modifications to the original note. To date, theyve only supplied a note that does not support their statements and a XXXX page of accounting that shows a handful of entries XXXX. Statebridges supplied accounting represents XXXX months of a loan that originated in XXXX ( over 18 years ago ) and does not support the amount of money they are requesting. 

In XXXX, due to my divorce and debt exceeding my home value, I filed for bankruptcy. Both my first and second ( HELOC ) mortgage were XXXX in the bankruptcy. My mortgages were modified into XXXX primary mortgage with an increased principal amount in XXXX, and I have paid that modified mortgage as agreed ever since. I have not received a statement, request for payment, notice of late payment, notice of fees or interest charged, or notice of assignment for the original first mortgage or second mortgage ( HELOC ) on my home since XXXX. If the debt Statebridge is trying to collect is the original second mortgage ( HELOC ), I have not received any notices, statements, interest or payments due, etc. for this loan in over 15 years. 

XXXX. There appears to be no good faith in processing my request to modify the debt or work out a payment plan ( if the debt can be verified ). The request for these options was denied within a few days of submission, saying the request does not meet XXXX XXXX requirements. Given that the value of my home has increased since I purchased it in XXXX, it is highly improbable that the XXXX ratio would exceed the investors requirements. By rough calculations, the current XXXX to XXXX on my family home ( inclusive of the modified first mortgage and the debt Statebridge claims ) is less than 50 %. It appears that Statebridges motivation- for not providing the requested and required loan information, a repayment plan, or a modification is the equity in my home that I am relying on for my retirement and my childrens education. 
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 is to pay what they are demanding, without any underlying information, or they will take my home. 

Thank you for your consideration and any assistance you can provide to help resolve this situation.