Mortgage -- Trouble during payment process -- Complaint #19226782
Complaint Overview
Complaint ID: 19226782
Company: Loancare, LLC
Product: Mortgage
Sub-Product: VA mortgage
Issue: Trouble during payment process
Sub-Issue: Escrow, taxes, or insurance
State: Georgia
ZIP Code: XXXXX
Date Received: 2026-02-03T12:00:00-05:00
Date Sent to Company: 2026-02-10T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Servicemember
Consumer Narrative
Originally, my mortgage loan was transferred from XXXX XXXX to LoanCare LLC. Since acquiring my loan, LoanCare LLC has failed to properly manage my insurance and tax payments and has demonstrated consistently poor customer service while I have attempted to resolve these issues. Due to these ongoing problems, I formally requested the removal of my escrow account so that I could pay my insurance and property taxes directly. I have not missed a mortgage payment in over 15 years and have demonstrated a strong and reliable payment history. However, LoanCare LLC advised that they would not release the escrow account because my loan-to-value ( LTV ) ratio is allegedly not below 80 % ( 85 % according to them ). At the time LoanCare LLC acquired my loan, they received a property valuation of {$350000.00}. My home was worth at least {$400000.00} at that time and remains valued at or above that amount today. My current loan balance is approximately {$290000.00}, which would place my LTV well below the stated requirement. To address this discrepancy, I requested a reconsideration of value to formally establish the correct market value of my home. Additionally, I have already paid my homeowners insurance in full. Despite this, LoanCare LLC refuses to remove my loan from escrow. I believe this refusal is motivated by the loss of escrow-related fees or the presence of accounting errors or back tax payments that are not properly reflected on my account. Currently, I am paying {$1700.00} per month, which fully covers my principal and interest. Following an escrow analysis, LoanCare LLC is demanding a payment of {$2200.00} per month and has advised that failure to pay this amount will result in missed payments being reported to the credit bureaus. I should not be threatened with credit damage due to LoanCare LLCs inability to properly manage my account or respond in a timely manner. I have contacted LoanCare LLC at least twice per week regarding this issue since XX/XX/year>. During this time, I have received only one return call from a manager. The lack of responsiveness and accountability has been extremely concerning. I am respectfully requesting assistance in escalating this matter so that it receives appropriate attention. As a veteran, I am seeking fair treatment, accurate accounting, and reasonable communication. LoanCare LLCs handling of my loan has been unacceptable, particularly with regard to customer service and escrow management. Thank you for your time and consideration. Sincerely,
Frequently Asked Questions
What is Complaint #19226782 about?
Complaint #19226782 was filed against Loancare, LLC regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2026-02-03T12:00:00-05:00.
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.