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Home > Ask The Get Out of Debt Experts > State Law Group Said They Can Restructure My Loan for a Fee. – Jason

State Law Group Said They Can Restructure My Loan for a Fee. – Jason

“Dear Steve,

im trying to re-fi or re-structure my existing interest only loan that i got with my mom as a cosigner about 5 years ago at around 6.2% “state law group” sent me a letter, i responded & brian lewandawski says that i fit a profile based on a hardship letter & a bank statement & recent mortgage stub. my worry is that im a contractor that requires a no-document loan. he assures me that its merely restructuring & no one is checking up on me. i also don’t want to pay in excess of 3400 dollars & then i end up denied. how do i full proof this? or dont i?

Jason”

The Answer

Dear Jason,

I’m not quite sure what State Law Group sent you but I’m perplexed why working with a “law group” would make sense if what you are looking to do is refinance your current loan. Try clicking here and using the directory to find a local mortgage broker.

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A mortgage broker would have access to far more potential lending sources and that would be the most logical place to look. The local broker would not charge to you to evaluate you for possible refinancing possibilities.

From the pitch you received it sounds like what State Law Group might be pushing is a loan modification or selling you into a mass joinder suit against your lender. Something just doesn’t sound kosher here. No mortgage company is going to let anyone walk into restructuring their loan. It’s not that easy.

Please post your responses and follow-up messages to me on this in the comments section below.

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About Steve Rhode

Steve Rhode
Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
  • Mike Brown

    My name is Mike Brown, I work for State Law Group in the compliance department.  I would like the opportunity to clarify any and all worries you may have.  Please email me at mbrown@state-lawgroup.com or you can reach me directly at 949-303-4515

  • Mike Brown

    My name is Mike Brown, I work for State Law Group in the compliance department.  I would like the opportunity to clarify any and all worries you may have.  Please email me at mbrown@state-lawgroup.com or you can reach me directly at 949-303-4515

  • JEN

    I GOT MY LOAN MODIFIED BY STATE LAW GROUP OUT OF SOUTHERN CALIFORNIA. IT TOOK THEM LONGER THAN THEY TOLD ME, BUT THEY DID LOWER MY PAYMENT BY A TON. WAS THE STATE LAW GROUP YOU USED IN FLORIDA OR CALIFORNIA. I HEARD THERE’S ONE WITH THE SAME NAME IN FLORIDA RIPPING PEOPLE OFF.

  • Hollyd369

    STATE LAW GROUP IS A SCAM. Dont do it.  They will tell you they modified your loan when they didnt. 

  • Hollyd369

    STATE LAW GROUP IS A SCAM. Dont do it.  They will tell you they modified your loan when they didnt. 

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