Mortgage -- Struggling to pay mortgage -- Complaint #11107721
Complaint Overview
Complaint ID: 11107721
Company: Loancare, LLC
Product: Mortgage
Sub-Product: FHA mortgage
Issue: Struggling to pay mortgage
Sub-Issue: Trying to communicate with the company to fix an issue related to modification, forbearance, short sale, deed-in-lieu, bankruptcy, or foreclosure
State: Arizona
ZIP Code: XXXXX
Date Received: 2024-12-10T12:00:00-05:00
Date Sent to Company: 2024-12-10T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
I suffered a house fire in XX/XX/year>. It's been almost a year. Here 's the letter to the insurance claim division of my mortgage company. I'm being forced to sell the property without a home or face foreclosure. I'm too lose. Nearly XXXX because of this. To Whom It May Concern '' I am writing regarding the insurance claim funds related to my property located at XXXXXXXX XXXX XXXX XXXXXXXX XXXX loan number XXXX which was damaged by fire on XX/XX/year> My insurance company issued a claim payment in the amount of XXXX to cover the costs of rebuilding. The check was endorsed and sent to your office as per the terms of our mortgage agreement. To date, I have provided all the required documentation, including : The insurance adjusters report. Contractor estimates and rebuilding plans. Despite complying with your stated requirements, I have not received the necessary funds to proceed with repairs. The delay is causing significant hardship, as the property can not be restored without these funds. I kindly request : A detailed explanation of them reason for withholding the funds. ( This is required in order for me to submit it to my insurance company so they can file for an extension to help pay for the an offset the cost of the rebuild this has to happen as soon as possible ) A clear list of any outstanding documents or conditions required for fund release. Immediate release of the approved portion of the claim to allow rebuilding to commence. Per federal and state laws, including those overseen by the Consumer Financial Protection Bureau, mortgage companies are required to act in good faith and facilitate insurance claim payments for property repairs in a timely manner. If this matter is not resolved within a reasonable time ( as pending response has already been a additional 42 days ) I will have no choice but to seek assistance through the Consumer Financial Protection Bureau, the Arizona Department of Financial Institutions, or pursue other legal remedies. Please contact me at ________ to confirm receipt of this letter and to discuss the next steps. Thank you for your prompt attention to this matter. Sincerely,
Frequently Asked Questions
What is Complaint #11107721 about?
Complaint #11107721 was filed against Loancare, LLC regarding Mortgage specifically about Struggling to pay mortgage. It was received by the CFPB on 2024-12-10T12:00:00-05:00.
How did Loancare, LLC respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Mortgage) and describe your issue in detail.
Can I see other complaints against Loancare, LLC?
Yes, visit the Loancare, LLC company profile at readthecomplaint.com/company/loancare-llc to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.