Mortgage -- Trouble during payment process -- Complaint #4690814
Complaint Overview
Complaint ID: 4690814
Company: Loancare, LLC
Product: Mortgage
Sub-Product: FHA mortgage
Issue: Trouble during payment process
State: Maryland
ZIP Code: 206XX
Date Received: 2021-09-03T12:00:00-05:00
Date Sent to Company: 2021-09-03T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Servicemember
Consumer Narrative
The Escrow Department for LOANCARE , LLC did an escrow analysis. They stated my XXXX County Maryland taxes were paid 4 times a year. They read the bill wrong. They kept telling me that my tax bill doubled but the XXXX County Treasury office confirmed that the taxes are only paid in two installments. I called LOANCARE today and the representative stated this was an error. With this erroneous analysis, they stated my mortgage payment would be an additional {$500.00} dollars. This was outrageous. The County confirmed it never doubled. I provided proof. ( see attachment ) On today XX/XX/XXXX, the representative saw it was entered into LOANCAREs system four times a year by error. The reps supervisor confirmed that it was an error. She put a request to have another analysis done and it should be fixed by XX/XX/XXXX. I should expect a new analysis delivered to me. If this does not happen, I will be submitting everything to my attorneys office for litigation. My account was also reported over 120 days late as of XX/XX/2021 on my credit report. This is inaccurate. My loan was transferred to XXXX/LOANCARE servicing in XXXX while it was still in a CARES ACT forbearance. ( see attachment ) Federal Law states there is a two month period of no negative credit reporting or fees accessed while a mortgage loan has been transferred to a new mortgage servicer. While still in the transfer period, my loan remained in forbearance while LOANCARE processed a loan modification. The modification documents show that my first payment is due XX/XX/XXXX. ( see attachment ) My credit report should have never been reported late. Again, it shows that I am over 120 days late. This is current data reported as of XX/XX/XXXX. LOANCARE has damaged my credit with this. They have broken the law.
Frequently Asked Questions
What is Complaint #4690814 about?
Complaint #4690814 was filed against Loancare, LLC regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2021-09-03T12:00:00-05:00.
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.