Mortgage -- Trouble during payment process -- Complaint #11223842
Complaint Overview
Complaint ID: 11223842
Company: Loancare, LLC
Product: Mortgage
Sub-Product: Home equity loan or line of credit (HELOC)
Issue: Trouble during payment process
Sub-Issue: Loan sold or transferred to another company
State: Pennsylvania
ZIP Code: 156XX
Date Received: 2024-12-19T12:00:00-05:00
Date Sent to Company: 2024-12-27T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
My loan was purchased from XXXX XXXX The company that bought it ( without my consent ) is called Loancare LLC or XXXX XXXX XXXX... not sure because they use both names. I received a letter from them stating that everything including my fixed interest rate, auto pay options, and current payment schedule would remain the same. However, I started receiving conflicting information about how payments would be withdrawn from my bank account. I had everything set to pay bi-weekly... this new documentation said monthly. I have attempted to email and call the company by phone to confirm that my bi-weekly payment scheduled transferred with the loan when they bought it. Phone calls and emails are not returned. I finally did get through to someone that said I would have to make a whole month payment in advance AND go online and arrange the auto bi-weekly payments. This is wrong... why didn't everything transfer over? What else are they going to change? I want my bi-weekly payments schedule... not a monthly one!
Frequently Asked Questions
What is Complaint #11223842 about?
Complaint #11223842 was filed against Loancare, LLC regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2024-12-19T12:00:00-05:00.
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.