Mortgage -- Trouble during payment process -- Complaint #8203856
Complaint Overview
Complaint ID: 8203856
Company: Loancare, LLC
Product: Mortgage
Sub-Product: Conventional home mortgage
Issue: Trouble during payment process
Sub-Issue: Escrow, taxes, or insurance
State: North Carolina
ZIP Code: 27410
Date Received: 2024-01-22T12:00:00-05:00
Date Sent to Company: 2024-01-24T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Consumer Narrative
XX/XX/XXXX XXXX, North Carolina Dear CFPB I need your assistance. My rental Mortgage is with the XXXX XXXX XXXX. It is a Conventional Loan with Escrows. My Hazzard Insurance Company is XXXX XXXX. It came to my attention that my Hazard Insurance was not renewed on time in XX/XX/XXXX due to the fact that my insurance company didnt receive payment from XXXX XXXX XXXX form escrow account. XXXX XXXX XXXX charged me {$36.00} for a forced insurance. I dont think it is fair that I have to pay for their negligence. Please help me! Summary : In XXXX, XXXX I received a letter from XXXX XXXX XXXX date XX/XX/XXXX, XXXXin reference to the Hazzard Insurance for my rental property located in XXXX XXXX XXXX XXXX, NC XXXX. This is a Conventional First Mortgage with Escrow. The letter Exhibit A informed that their records show the hazard insurance has expired, and we do not have evidence that I have obtained new coverage. On XX/XX/XXXX XXXX I called XXXX XXXX XXXX XXXX XXXX and spoke with XXXX, he transferred me to the Insurance Department. The Insurance department said the issue was for a gap period of XX/XX/XXXX to XX/XX/XXXX and they needed a proof that the house was insured for that period. On XX/XX/XXXX I called my insurance Agent XXXX XXXX ; he did research and called back informing that in fact it was a gap of insurance from XX/XX/XXXX to XX/XX/XXXX because they didnt received payment on time for the renewal. On XX/XX/XXXX at XXXX I called my Lender XXXX XXXX XXXX XXXX XXXX and spoke with XXXX He replied they sent the check but it was returned, so they sent a second check. And he will call my insurance agent to do a follow up. On XX/XX/XXXX at XXXX I called and spoke with XXXX and said their resolution still the same, it was an insurance gap and for this they will move forward charging me {$36.00} for a force insurance. I said, my mortgage is escrowed and I shouldnt be paying for a forced insurance if your company sent the check to wrong address and or without sufficient time to discover errors. I ask for a proof they sent the payment on time. Their reply was, we will move forward with the charge of {$36.00} if you cant provide a proof that the property was insured during that period. In XXXX I received a letter dated XX/XX/XXXX Exhibit B Saying they cancelled the Insurance Coverage we ordered from XX/XX/XXXX to XX/XX/XXXX and a charge of {$36.00} was imposed. It is ridiculous that they even can purchase an insurance for an event in the past! XX/XX/XXXX I received a letter dated XX/XX/XXXX informing the {$36.00} was deducted from my escrow account Exhibit B Please I need someone to help me. This is not fair and I feel this is an abuse. Thanking you in advance for your time and assistance, XXXX XXXX XXXX XXXX XXXX
Frequently Asked Questions
What is Complaint #8203856 about?
Complaint #8203856 was filed against Loancare, LLC regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2024-01-22T12:00:00-05:00.
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.