Consumer complaint received 2019-01-03
Company: LoanCare, LLC
State: TX
Product: Mortgage
Sub-product: FHA mortgage
Issue: Trouble during payment process

Complaint:
In the beginning of 2018 we had some medical bills that set us back and we requested to LoanCare to move a payment at the end of the term as a deferred payment. They didnt denied but in result the bank gave us paperwork for a loan modification. They took a little while before they sent us the first set of papers in which you can find attached. These first set stated that there would be THREE trial payments and that they will send us more paperwork right after the last trial payment. The last TRIAL payment was made on XXXX XXXX   2018 according to their terms and we were expecting to see something in XXXX. Since we didnt hear anything we started calling them for an update but no one was able to give us an answer of where and how the loan stand and in mean time we kept making our monthly payments on time but we didnt know that they were still considered trial payments even though the paperwork stated only three trial payments.

At that time we kept calling LoanCare to find out more information. This was hectic as no one knew what was going on. They kept telling us different information and we never were able to get a clear answer. One thing they kept telling us that the underwriter that was handling our case was not responding. 
In XXXX I contacted my legal advisor and they explained a little more on how a loan modification works. They told me that I should be getting paperwork where I could see the numbers in how the loan modification was going to be. This would include the loan valance before the loan modification as well as how the payment were going to be applied to the loan including the new balance and the new payment. They said that after they send this then they will work on the FINAL loan modification paperwork. 
We finally got some paperwork from LoanCare on the third  week on XX/XX/2018 ( attached ) but this was the final paperwork that stated the new loan amount and the new payment amount. We never saw how the payments that we were sending were going to be applied to the loan and we dont understand how they got the new Loan amount. 
This is because before we started this loan modification we had a balance of {$260000.00} but they put that new balance now is for {$280000.00} which is what we originally purchase the house for and we dont know why it went up from $ XXXX to $ XXXX, we also dont know what happened to the money from all the payments we made while they get this loan modification. 
Based on what our legal advisor told us and the information given on the last paperwork, we called LoanCare to ask for the paperwork where it explains the numbers on how they got to the new terms and they told us that they were going to send them. After this, LoanCare called us days later saying that the underwriter stated sending them but we have never did. The lady who called us try to explain over the phone how they got to the new numbers but we need to see that information and agree and sign. She said that she couldnt disclosed that information in writing since it was for internal use only. At that time they told us to sign and send the paperwork as soon as possible which a find very estrange that they took all this time to send the paperwork and they sent them on the holidays giving us only seven day to sign, notarize and return. 
We felt obligated to sign and agree to something that we didnt feel comfortable signing and we feel like we are taking advantage of. This Is not a right way to do business and as a consumer I would like to know where my money went and how this was applied. 
I would like for LoanCare to disclose the financial breakdown where I can understand it and for someone in Consumer finance to please look at my paperwork from LoanCare and let me know if this is actually correct.

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