Mortgage -- Struggling to pay mortgage -- Complaint #6588783
Complaint Overview
Complaint ID: 6588783
Company: Loancare, LLC
Product: Mortgage
Sub-Product: VA mortgage
Issue: Struggling to pay mortgage
State: Tennessee
ZIP Code: 37042
Date Received: 2023-02-18T12:00:00-05:00
Date Sent to Company: 2023-02-18T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Servicemember
Consumer Narrative
I missed 2 payments on my mortgage last year ( XXXX & XX/XX/2022 ). My household income went from two to one. I made a partial payment for the month of XXXX. When I called in to make the second half of my payment I was told I could not make any payment unless it was the full past due amount. My first complaint is that no one informed me of this policy until it was too late, until I could not make a payment. It was suggested that I submit a mortgage assistance application through my service provider. I submitted one and was denied. I appealed it, showing that I could afford my mortgage in my budget. I would have been stretched thin, but I would have been able to keep a roof over my head. My appeal was denied. It was suggested that I request help through my state. That request was denied. During this entire process of seeking help, I was told that it would not show up on my credit that there were missed payments as long as I am actively going through the loss mitigation process. Of course, that was a lie. My household income went back to two, so I was told to submit another mortgage assistance application since I can show that I have more income coming in. I submitted an application in XXXX. Today 's date is XXXX. Every time I call to get an update there's additional documents that are needed for the underwriter to make decision. My second complaint my provider not telling me all the additional documents that were needed upfront, so that I could provide them. I feel like they are intentionally prolonging my request for assistance, so that my past due amount grows larger and larger each month. My third complaint is that every time I call the representative doesn't really know what is going on. They aren't able to tell me upfront if documents are needed. I have to literally explain the situation, inform them of the documents I've already sent in. They all refer me to do everything online and I do. I email all requested documents to their email, but for some reason they have a hard time informing me of what is needed in a timely manner. They will send a letter that takes 10-14 business days to get here and will have a no later than date on there for the requested documents. I understand my situation and it is my fault that I am in this situation to begin with. I can not fathom why offer assistance, if you are not going to provide. I have been advised that often times mortgage lenders will do this, because they know the loan is backed by the VA. I'm not sure what the true reasoning is, but I would just like to get to the bottom of this and get my mortgage loan back in good standing.
Frequently Asked Questions
What is Complaint #6588783 about?
Complaint #6588783 was filed against Loancare, LLC regarding Mortgage specifically about Struggling to pay mortgage. It was received by the CFPB on 2023-02-18T12:00:00-05:00.
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.