Mortgage -- Trouble during payment process -- Complaint #4827831
Complaint Overview
Complaint ID: 4827831
Company: Loancare, LLC
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Trouble during payment process
State: Texas
ZIP Code: 756XX
Date Received: 2021-10-20T12:00:00-05:00
Date Sent to Company: 2021-10-20T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
XX/XX/XXXX - We ( my husband and I ) closed on a home using a local-to-us title company. Shortly after ( less than one month ) our loan was sold to LOANCARE. Our closing documents as well as our Initial Escrow Account Disclosure Statement, lists XX/XX/XXXX as when County Property Taxes in the amount of {$960.00} would be paid. This amount also reflects the amount that was in the escrow account at closing, before our first mortgage payment after close. XX/XX/XXXX - Received a " Refund to Borrower '' check from LOANCARE for the amount of {$700.00}. The paperwork included only stated that our escrow account was in surplus, so the amount was returned to us. XXXX - Received a letter from the XXXX County District office stating that our property taxes were late, and were incurring late fees. At this point, I called LOANCARE to ask about why our taxes were late. At this time, via telephone, we were told that this issue would be taken care of, but we were not offered any other explanation for what happened. XX/XX/XXXX - Statement date for our Annual Escrow Account Disclosure. It reflected our escrow account to now be in a projected shortage of $ XXXX. Upon receiving the letter, we called LOANCARE to ask about the projected shortage. We were not given any direct answers. Instead, we were only told that our taxes had been paid on our behalf from our escrow account. I asked why we were sent a refund check if these taxes had not been paid yet. I did not receive a clear answer. We were only told that the taxes were not paid initially because the due date was too close to our closing date. This is not true. We closed on XX/XX/XXXX, and the taxes were not due ( PER THE DISTRICT OFFICE ) until XX/XX/XXXX. XXXX - We retained a lawyer who suggested writing a certified letter ourselves, and offered advice on what questions to ask. We did so, received a receipt that the letter was received, and waited. Eventually, we received back information that we did not believe answered our questions. XX/XX/XXXX - We paid our lawyer to send a certified letter of his own. Since this date, he has not received a response from them. I am unsure if this involves any receipt of signature or not. XX/XX/XXXX - I call LOANCARE in order to inquire about the status of our letter via lawyer. Per the customer service rep I spoke with, they received no letter. XX/XX/XXXX - We have retained new legal counsel in order to more aggressively pursue answers. This is also the date of writing this complaint.
Frequently Asked Questions
What is Complaint #4827831 about?
Complaint #4827831 was filed against Loancare, LLC regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2021-10-20T12:00:00-05:00.
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.