Date Received: 2021-07-08
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I did a mortgage forbearance with the company ( XXXX XXXX XXXX during COVID - I was told the missed payments would be added to the end of my mortgage- not LOANCARE has taken over and they told me that I can only do a modification that would increase the overall cost of my mortgage and extend the term. I did not want that so I paid all the back payments which were cashed by them on XX/XX/25 - I have proof of the cashed checks but they dont seem to have record of it. I call / email daily and no one gets back to me.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: PA
Zip: 184XX
Submitted Via: Web
Date Sent: 2021-07-08
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-07-08
Issue: Problem with a credit reporting company's investigation into an existing problem
Subissue: Investigation took more than 30 days
Consumer Complaint: I have disputed an error on an account that was closed in XXXX. The account was being reported late for XX/XX/XXXX. I have disputed this late record over 45 days ago and XXXX has done nothing but collude with the company. XXXX has done nothing to correct my credit report. The account is Loan Care LLC. Account # XXXX
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: MD
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-07-08
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-07-07
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: My loan was originally with XXXX and earlier this year they transferred it to XXXX Loancare and ever since it's been nearly impossible to reach anyone to speak with or to get a straight answer. Most of the people I speak with have contradicted each other. At least one woman told me information that later turned out to be false : she said I would be offered a 3.125 % interest rate if I did a loan modification. But when the loan mod offer arrived it was for the exact same interest rate ( 4.125 % ) I currently have but they extended the term of the loan to 40 years. Previous to that I received an email on XX/XX/XXXX from Loancare stating I had " been approved for an initial forbearance plan or extension of your current plan. '' But then when I called in after that they said I wasn't eligible. It has been confusing and frustrating. Eventually I requested the loan modification offer with the understanding it would be a lower interest rate and when it arrived it wasn't lower. I've currently been on hold for 41 minutes and counting trying to understand what my options are if I reject the loan mod offer. I reached someone named XXXX and asked what my options are and she said she needed to put me on on hold to look into it. that was over 30 minutes ago. This is predatory lending. The email address they told me to contact them at ( XXXX ) is invalid. The forbearance plan offer also lists someone as my mortgage resolution advocate XXXX XXXX XXXX XXXX and his phone number as the general phone number for loancare which takes forever to reach a representative and is impossible to navigate through. There's no extension for XXXX nor is there an option to enter an extension anyways. Also none of their correspondence lists where to mail payments.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 32205
Submitted Via: Web
Date Sent: 2021-07-07
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-07-06
Issue: Trouble during payment process
Subissue:
Consumer Complaint: I have a va loan on my home at XXXX XXXX XXXX in XXXX XXXX, serviced by Loancare LLC. Loan number XXXX I made all my payments on time and have proof of this in the form of electronic records with payment verification and canceled and cleared checks. ( attached ) In XXXX of XXXX they sent me a notice that I was in default and they were beginning foreclosure. I sent them a 'notice of error ' with proof every payment was made on time on XX/XX/21, by certified mail to the executive vice president. ( copy attached ) I have proof that she got it as she signed for it. I got back a letter showing my payment history that was incomprehensible and shows basically that every payment was received ( it is shown on the history ) but it was 'miscredited. ' ( copy attached ). I can't reach anyone who has any idea what the entries mean, what it means for the payments to be 'micredited, ' or where the money went. They say their computers still show the payments have not been made even though their payment history clearly shows I did make them, they got the money, they simply 'micredited it. ' The payment history also shows the account is in forebarance. I never approved of this and I wouldn't have known if it hadn't been on the records. This is a bad mark on my credit and they shouldn't be allowed to say it if it isn't true. I have called many times. Their phone reps claim that there is no record of my letter or proof of payment history, which I sent them three times by snail mail and twice by email. I can conform all of this. But they tell me it doesn't matter because they don't have any authority to make any changes even to make it match their own payment history. No one can give me anyone who knows anything. As of XX/XX/2121, They are still reporting me as in default on my loan to all three credit reporting agencies, so they have ruined my credit. This is important because I run a XXXX XXXX and I back my business credit with my personal credit. Because of their reporting, I have been turned down for a critical loan for equipment that my business needs to operate. This is causing extreme hardship for me. I have numerous other complaints about the company regarding the way they do business. They have a computer that makes robocalls every hour, all day and all night, but doesn't say anything except give a recorded message to call the company. As soon as their records showed I was late ( even though I wasn't ) they cut off my access to the website so now when I try to log in a get a message the account is frozen and I need to call in. i feel it is extremely dangerous to call the company because they require you to punch in enough informatoin that anyone who is monitoring calls can steal my identity from this information ( including full ssan, address, phone, email, and a large amount of confidential information ). This doens't go to a person, it is just punched in and if you don't do it, it won't let you talk to anyone. This makes it impossible to do anything with the company except by mail and they don't appear to respond to mail correspondence..
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: OR
Zip: XXXXX
Submitted Via: Web
Date Sent: 2021-07-07
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-07-05
Issue: Trouble during payment process
Subissue:
Consumer Complaint: Mortgage through LOANCARE We were in forbearance due to COVID, and approved for a modification as per the paperwork that was sent to us dated XX/XX/XXXX. Our new payment was to begin on XX/XX/XXXX with a modified loan amount which included the missed payments and new lower interest rate. Mailed back 2 signed and notarized copies as requested, and they were received by LOANCARE on XX/XX/XXXX. On XX/XX/XXXX there was an update in our online account that showed they documents were received. On XX/XX/XXXX there was an update to our account that stated our Mod changes were completed. THEY WERE NOT. Spoke with LOANCARE on XX/XX/XXXX to state that our account has not yet been updated even though it says our modification paperwork has been received and updated. XXXX stated to give it more time and to make my payment for XX/XX/XXXX as agreed {$1600.00}. Emails that have gone unanswered were sent XXXX, XXXX, XXXX and XX/XX/XXXX. Spoke with LOANCARE, XXXX, on XX/XX/XXXX and again was advised to give it more time, that the paperwork was in recording. Now all the information that was in our online account regarding the received documents has been removed, I do have screenshots. Meanwhile, automated calls are received daily from LOANCARE asking for us to call them back, we are being reported to credit bureaus as being late and I am no longer able to make online payments. Its almost impossible to get anyone on the phone. We are getting pre-forclosure letters from FHA and LOANCARE.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: NY
Zip: 109XX
Submitted Via: Web
Date Sent: 2021-07-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-07-06
Issue: Incorrect information on your report
Subissue: Account status incorrect
Consumer Complaint: We applied for forbearance XXXX of XXXX and it was approved for the dates of XX/XX/XXXX through XX/XX/XXXX. We sold our home on XX/XX/XXXX and received a paid in full letter from LoanCare XX/XX/XXXX. When we had our credit report run on XX/XX/XXXX to purchase a new home, Loancare was reporting our mortgage as being in forbearance but current with no late payments. When a new credit report was pulled on XX/XX/XXXX, LoanCare was still reporting our mortgage in forbearance BUT also as 60 days late as of XX/XX/XXXX AFTER we had already sold our home and it was paid in full. By reporting our mortgage as 60 days late it hurt our credit. We were also led to believe that if we were current on our loan going into forbearance we would be current coming out of it. We just sold our home before it was over which they said would not be a problem as long as the loan was paid in full which it was. We have contacted LoanCare to find a solution and were asked to file a dispute, which we have done. But as our closing date draws near and we are trying to get an update when they are unable or unwilling to help and can only enter new notes to our file.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CO
Zip: 80229
Submitted Via: Web
Date Sent: 2021-07-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-07-05
Issue: Applying for a mortgage or refinancing an existing mortgage
Subissue:
Consumer Complaint: I am in the process of recasting my current mortgage. XXXX XXXX/Loancare agreed to accommodate my request and I initiated the process by submitting a {$100000.00} principle payment and completing the documentation required my XXXX XXXX/Loancare. A signed and notarized Agreement for Modification and XXXX was sent via overnight courier on XX/XX/21. The agreement was additionally, uploaded using XXXX XXXX/Loancare 's online document center. XXXX XXXX/Loancare 's instruction letter states that this process may take up to 20 days and will reduce my monthly mortgage payment. To date, I have been unable to make contact with anyone in the specific department that handles reamortization. Customer service reps claim to have not received documentation sent via overnight courier with proof of delivery and uploaded documentation submitted through the online document center, also with proof of receipt. I have made multiple efforts to get this process back on track through phone calls, e-mails and letters sent via USPS. All attempts have been completely ignored and I am unable to get any kind of status update or timeline on when or if this process XXXX XXXXLoancare agreed to will actually happen. At this point, It seems that I have been duped into making a {$100000.00} principle payment and that XXXX XXXX/Loancare has no intention of reducing my mortgage payment as promised.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 904XX
Submitted Via: Web
Date Sent: 2021-07-08
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-07-05
Issue: Trouble during payment process
Subissue:
Consumer Complaint: We hired XXXX XXXX XXXX to modify my mortgage in XX/XX/XXXX. They promised that the whole process takes 3 to 4 months and would get my mortgage at a 2 % TO 3 %. In XX/XX/XXXX I received foreclosure papers on my house. I contacted XXXX and they told me it was a scare tactic to try and collect money from me from the mortgage company collections department. Told me not to worry i was protected by them. At the end of XX/XX/XXXX I was served with more paperwork from the mortgage company to start a loss mitigation process. Tried to contact XXXX to see what was going on and couldn't get any answers. After 4 days of probably calling them 6 or 7 times a day I finally got a call back, only to be introduced to their compliance Department and a guy named XXXX, well XXXX is a fast talking used car salesmen that loves using all kinds of acronyms to make it sound like hes on the up and up, but he is incapable of answering a question with a direct and honest answer. The results of my communication with them was XXXX telling me that I had to pay an additional {$6000.00} for my case to move forward ( with no guarantee that they can deliver on the promise that they made ). Throughout this entire process there has been little to no communication from XXXX to me except for once a month when they contact me looking for their payment. They have been taking my money for 17 MONTHS and have accomplished nothing, I had taken the Mortgage companys offer for loss mitigation and started that process on my own. I was lied to and promised that my loan would be modified at a low interest rate within 3 to 4 months with a 100 % money back guarantee, and now they are saying that they will not refund me since we did get an offer back from the investor ( yet they have not and can not show me the offer ). Because of XXXX my home is currently over a year passed due, and in foreclosure. XXXX is a scam, they are very dishonest and misleading, and do absolutely nothing that you can not do for yourself, ( other than extorting money from you ) My house is now in forclosure because of XXXX and I am fighting with everything i have to keep a roof over my kid 's heads
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 33570
Submitted Via: Web
Date Sent: 2021-07-05
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-07-04
Issue: Struggling to pay mortgage
Subissue:
Consumer Complaint: Current mortgage with Loancare. In 201o I was diagnosed with a life threatening illness which forced me to stop working as I needed medical care and few surgeries to save my life. I fell behind on mortgage payments. I then reached out to the mortgage company and applied for a forbearance and then a modification. In 2020 I was approved for the modification. I have submitted all the docs and my modification has been recorded in public records. I am making the modified payment however the mortgage company is still reporting my payment as late and still showing the account in default on my credit report. I have tried reaching out to the mortgage company to correct the status of my account but not getting an answer as to why my account is still in collection status. Please help
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: FL
Zip: 33067
Submitted Via: Web
Date Sent: 2021-07-04
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2021-07-03
Issue: Incorrect information on your report
Subissue: Account information incorrect
Consumer Complaint: XXXX XXXX/Loan Care regarding FHA home loan has been misapplied my monthly payments to " suspense account '' instead of " regular payments '', which we tried very hard to do regular payments despite of financial hardship due to COVID. 1.Paid XXXX, {$3300.00} was placed in suspense acct, reflected 30 days late 2.Paid XXXX, {$3000.00} was placed in suspense acct, reflected 30 days late 3.Paid XXXX, {$3000.00} was placed in suspense acct, reflected 30 days late 4.Paid XXXXXXXX, {$3000.00} was placed in suspense acct, reflected 30 days late 5.Paid XXXX, {$3000.00} was placed in suspense acct, reflected 30 days late 6.Paid XXXX, {$3000.00} was placed in suspense acct, reflected 30 days late 7.Paid XXXX, {$3000.00} was placed in suspense acct, reflected 30 days late 8.Paid XXXX, {$3000.00} was placed in suspense acct, reflected 30 days late 9.Paid XXXX, {$3000.00} was placed in suspense acct, reflected 30 days late 10.Paid XXXX, {$3000.00} was placed in suspense acct, reflected 30 days late 11.Paid XXXX, {$3000.00} was placed in suspense acct, reflected 30 days late 12.Paid XXXX, payment for XX/XX/2020 {$3400.00} was placed in suspense acct, reflected 30 days late 13.Paid XXXX, XXXX was placed in suspense acct, reflected 30 days late 14.Paid XXXX, XXXX was placed in suspense acct, reflected 30 days late 15.Paid XXXX, XXXX was placed in suspense acct, reflected 30 days late 16.Paid XXXX, payment for XX/XX/2020 {$3500.00} was placed in suspense acct, reflected 30 days late 17.Paid XXXX, {$3500.00} was placed in suspense acct, reflected 30 days late 18.Paid XXXX, {$3400.00} was placed in suspense acct, reflected 30 days late 19.Paid XXXX, {$3500.00} was placed in suspense acct, reflected 30 days late 20.Paid XXXX, {$3400.00} was placed in suspense acct, reflected 30 days late 21.Paid XXXX, {$3400.00} was placed in suspense acct, reflected 30 days late 22.Paid XXXX, {$3500.00} was placed in suspense acct, reflected 30 days late 23.Paid XXXXXXXX, {$3400.00} was placed in suspense acct, reflected 30 days late 24.Paid XXXX, {$3400.00} was placed in suspense acct, reflected 30 days late
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
State: CA
Zip: 91791
Submitted Via: Web
Date Sent: 2021-07-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A