In 2012 we applied for a loan modification to Sovereign on a fixed interest mortgage on our {$750000.00} loan in 2012 due to extraordinary hardship due to downturn in our business as architects and engineers. The interest is 6.25 %. We were denied a loan modification due to some minor issue in the application and were asked to reapply. We ended up reapplying and getting denied about 4 times. The last time we were rejected on a very trivial issue. We complained to supervisors but to no avail. Then almost immediately the mortgage processing was taken over by Santander Bank ( when we called them to apply for loan modification it was the exact same staff as Sovereign Bank ). We were so upset we gave up till now. We have been struggling due to the economic downturn we ended up being a few days late on some mortgage on XXXX occasions. This has prevented us from getting refinanced, also because our income has reduced due to the downturn, we are not able to qualify for current loan refinances. 
We feel that all the interest we have been paying is unfairly charged. We should have been given a loan modification but were denied unfairly. We would like a loan reduction and refinance to a low interest rate. We currently owe {$630000.00} and {$48000.00} second fixed at 7.95 % interest to XXXX XXXX XXXX which was financed at the same time by our original loan broker as an interest only loan which comes due 2018. We still owe the {$50000.00}. 
