Consumer complaint received 2023-02-02
Company: LoanCare, LLC
State: FL
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Struggling to pay mortgage

Complaint:
Hello- I do hope you can help me with LoanCare. I have been trying to work out a disaster repayment plan with LoanCare. I was on a forbearance program due to Hurricane Ian from XXXX to XXXX, XXXX. I was incredibly grateful LoanCare offered such a program. I entered the program under the pretense at the end of the forbearance period, someone would work with me on a repayment plan, to pay what I could and my good credit standing would not be impacted. I made a payment in XXXX of {$510.00} and a full payment in XXXX, {$1500.00}. My good credit standing is extremely important for my Government clearance. I started calling LoanCare around XXXX to discuss a disaster repayment plan. I was told someone would contact me at the end of the forbearance period. I received and completed the Mortgage Assistance Application and submitted it on XX/XX/XXXX as I was advised by a LoanCare representative around XXXX XXXX when I called to wait until the end of the forbearance period. I received no response so I followed-up with a phone call on XX/XX/XXXX. I attempted to makes another payment which was declined by LoanCare unless I could pay {$2400.00}, stating I was more than 60 days late and they could only accept a full payment or submit additional documentation for underwriting. I provided the requested documents on XX/XX/XXXX. Again I was assured there would be no impact to my credit score while a plan was being worked out with underwriting. XX/XX/XXXX, I learned LoanCare reported me as being 60 days late to the credit bureau. I spoke with another LoanCare representative on XX/XX/XXXX who stated I was told misinformation on XX/XX/XXXX, that LoanCare did not have me under the disaster forbearance program, she contacted her supervisor to correct the credit reporting and she stated NO additional documents were required from me and my current interest rate would not be changed. The next step was for underwriting to work out a disaster repayment plan. I called on XX/XX/XXXX as I had not heard back from underwriting. The LoanCare representative stated, I received incorrect information on XX/XX/XXXX. Additional documents were needed, my interest rate would like increase to the current rate and the credit bureau would continue to be notified of late payments. The only way I could prevent this was to pay {$3800.00}. I explained I receive drastically different or misinformation every time I contact LoanCare. If I knew of this impact, I would not have entered into the disaster forbearance program. I explained that every time I contact LoanCare I am misinformed and requested to speak with a manager to no avail. I followed up with an email to LoanCares Mitigation Department in XX/XX/XXXX and XX/XX/XXXX requesting for management to contact me so we can work out a disaster repayment plan there has been no response. I would appreciate any assistance, this is causing me undue stress personally and financially. Thank you!

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation