Consumer complaint received 2021-04-28
Company: LoanCare, LLC
State: IL
Product: Mortgage
Sub-product: VA mortgage
Issue: Trouble during payment process

Complaint:
My spouse and I jointly entered into a mortgage agreement ( VA LOAN ) with me being the veteran. The loan closed XX/XX/XXXX with XXXXXXXX XXXX We have faithfully paid payments on time. As of XXXX XX/XX/XXXX, XXXX XXXX has given our loan over to LOANCARE LLC " on behalf of XXXX XXXX XXXX. Doing business with LOANCARE has went as follows : The XX/XX/XXXX payment to LOANCARE has been a nightmare. Because of several bad issues that we endured from XXXX XXXX we changed our bank to XXXX XXXX. Via XXXX XXXX bill pay option, I initiated the mortgage payment to LOANCARE on XXXX XX/XX/XXXX. Unknowingly, XXXX XXXX was not yet aligned to do electronic payments to LOANCARE and they mailed a physical check to LOANCARE on XXXX XX/XX/XXXX. I kept checking the LOANCARE online account to see is the payment posted and as of XXXX XX/XX/XXXX it had not. I called MULTIPLE times ( XXXX ) and have never been able to get a human being on the phone. It is an automated system that is impossible. I contacted LOANCARE via their online account service MULTIPLE times and finally got a call from " XXXX '' ( LOANCARE representative ) who told me the check was not received as of XXXX XX/XX/XXXX. I informed XXXX that I would have it cancelled and I paid additional money to have an expedited electronic payment sent to LOANCARE on XXXX XX/XX/XXXX with XXXX XXXX has confirmed they received on that date. LOANCARE has posted my payment being received XXXX XX/XX/XXXX. According to LOANCARE guidelines, any payments received after the XXXX initiates a late payment fee. To my knowledge a late payment fee has not been assessed but I firmly believe LOANCARE will at some point impose one although the payments was received by them XXXX XX/XX/XXXX. We have never had a problem with any company before receiving payments on time. I have been made aware that LOANCARE has been sued multiple times for imposing false late fees/penalties and other items on customers. I filed a complaint with the XXXX XXXX XXXX in vain. The XXXX  from what I understand is paid by companies to represent them and they by no means help the customer ; they are basically a big complaint receiving department. 

I am very concerned that LOANCARE is going to ruin us financially. If they continue to " not receive '' payments and/or post them late I will eventually lose my home, my credit score, and from there, financial death. This is a grave concern. 

XXXXXXXX XXXX, from what I understand still owns our VA home loan and simply refuse to help me get reassigned from LOANCARE to a reputable company. A LOANCARE representative who identifies herself as XXXX keeps calling at times I can not take a call and leaves the number XXXX and I am also unable to get a human on this number. 

This is a complete NIGHTMARE! To be placed in business with a very dishonest and disreputable company that you can never talk to and I have expressed to the XXXX I would prefer to have answers back via writing because verbal conversations don't hold up in court. I well image that is where this is headed.

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