Mortgage -- Trouble during payment process -- Complaint #4737114
Complaint Overview
Complaint ID: 4737114
Company: Loancare, LLC
Product: Mortgage
Sub-Product: VA mortgage
Issue: Trouble during payment process
State: Virginia
ZIP Code: 240XX
Date Received: 2021-09-20T12:00:00-05:00
Date Sent to Company: 2021-09-20T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Servicemember
Consumer Narrative
Sold house on XX/XX/2021. Escrow balance at date of closing was {$3000.00}. Debit in XX/XX/2021 of {$3000.00}, bringing the escrow balance to XXXX ( verified on XX/XX/2021 statement -statement attached ). Waited a couple months for Escrow refund which never materialized. Began contacting company ( LoanCare ) in early XXXX, via numerous emails and phone calls. Customer Service contact line and options were all irrelevant to issue and unable to get a real person via phone. All requests for contact " looped back '' to recordings. Contacted organization representative from original loan ( XXXX ) via email between XX/XX/XXXX and XX/XX/2021 and received a direct number to speak to someone at Customer Service on XX/XX/2021. On XX/XX/2021, spoke to Customer Service representative and they acknowledged a discrepancy with the account/refund, as well as their inability to explain where the {$3000.00} balance/debit went. During this same phone call, Customer Service initially advised that it appeared we owed {$1000.00}, then reversed and said there appeared to be a balance, but did not expound on amount. Customer Service advised it would be deferred to Escrow Department and that a check would be sent within 7-10 days. In early XXXX, we received a check for {$10.00} ( dated XX/XX/2021 - check attached ) for account refund " Miscellaneous Expenses '' - letter attached. It should be noted that up to this point my wife was responsible for all contact with LoanCare representative with regard to this issue. Numerous contacts. On XX/XX/2021, my wife contacted Customer Service again because the refund issue was obviously not reconciled. Customer Service advised my wife she was not authorized to discuss the account. I immediately contacted Customer Service and was advised that the " system was down '' and my wife 's authorization status could not be verified. I then reiterated the issue with the escrow refund/balance/debit destination and my displeasure in the handling thus far. I was advised that the issue would be deferred to the Escrow Department ( or a department of that nature ) and that I would be contacted by them within 7 days. Unsatisfied with this, I pressed for a specific date and was told that if I do not hear from them by XX/XX/2021 to re-contact them. This afternoon I emailed LoanCare and received an " out of office '' reply. Ive essentially had my fill of this run-around.
Frequently Asked Questions
What is Complaint #4737114 about?
Complaint #4737114 was filed against Loancare, LLC regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2021-09-20T12:00:00-05:00.
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.