Mortgage -- Trouble during payment process -- Complaint #4505944
Complaint Overview
Complaint ID: 4505944
Company: Loancare, LLC
Product: Mortgage
Sub-Product: FHA mortgage
Issue: Trouble during payment process
State: Tennessee
ZIP Code: 37122
Date Received: 2021-06-30T12:00:00-05:00
Date Sent to Company: 2021-06-30T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
Hello, I have been with Loancare for the good part of 7+ years. Due to the covid crisis, my tenant was unable to make their rental payments and I entered into a forbearance back in the summer of XXXX. This was a 6 month forbearance in which we entered into a loan modification agreement in XXXX of XXXX. Papers we signed, notarized and received by loancare. This modification had a new monthly payment with payments beginning in XXXX of XXXX. I was informed many times that my information on the website would be updated in 60-90 days and once complete, I would be able to resume making payments on the agreed upon amount through the website. XXXX came, then XXXX, then XXXX and calls to customer service were the same story. Confusion as to why it was not updated, assuring me that a ticket would be open and that 1. this would get resolved and 2. a supervisor would contact me ( as requested ). All throughout this time payments were made on time. Now here comes XXXX, where to my surprise the status of the situation is unchanged but now we have a new revelation. When calling ( and waiting 30 minutes to speak to the first representative.. every time ) to make my monthly payment, I was told that I have been entered back into forbearance on XX/XX/XXXX ( of which I have not requested ). When I challenged this, I was put on hold for over 45 minutes until I decided to hang up. This entire experience has been extremely stressful. I do not know what my mortgage balance is, what my escrow is, what my statements look like or even how my monthly payments are being applied ( if they are being applied at all ). Is my mortgage still being reported as in forbearance so federal benefits can continue to be collected? I would hope not as that would be a major fraud case. Who can actually help me with this situation?
Frequently Asked Questions
What is Complaint #4505944 about?
Complaint #4505944 was filed against Loancare, LLC regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2021-06-30T12:00:00-05:00.
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.