Mortgage -- Trouble during payment process -- Complaint #4799572
Complaint Overview
Complaint ID: 4799572
Company: Loancare, LLC
Product: Mortgage
Sub-Product: FHA mortgage
Issue: Trouble during payment process
State: Maryland
ZIP Code: 206XX
Date Received: 2021-10-11T12:00:00-05:00
Date Sent to Company: 2021-10-11T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Servicemember
Consumer Narrative
As of XX/XX/2021, XXXXLOANCARE LLC has not fully resolved my prior complaint with the CFPB. The company still has my principal and interest payment at {$2200.00}. This is incorrect. In the loan modification correspondence ( see attached ) dated XXXX, XXXXXXXX XXXX, LOANCARE , LLC. stipulated that my principal and interest payment would be {$1900.00} effective XX/XX/2021. The first payment was due on XX/XX/2021. They fixed the escrow piece that was incorrectly processed by their escrow department and lowered my escrow payment to {$950.00} via the escrow analysis dated XX/XX/2021. However, the escrow department failed to have the updated principal and interest amount in the new escrow analysis that was stipulated in the loan modification documents. The escrow analysis ( see attached ) stated my total mortgage payment is {$3100.00}. This is incorrect. The totally mortgage payment should be {$2800.00} based on the modified principal and interest, plus the new escrow amount. LOANCAREXXXXXXXX XXXX XXXX should be shut down. Their handling of loans as a servicing company is unprofessional. I wish to be transferred to another company that will handle my mortgage payments with accuracy and care. This has been an awful experience, and I should not have to contact the CFPB to actually get things resolved.
Frequently Asked Questions
What is Complaint #4799572 about?
Complaint #4799572 was filed against Loancare, LLC regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2021-10-11T12:00:00-05:00.
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.