Consumer complaint received 2020-11-22
Company: LoanCare, LLC
State: SD
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Trouble during payment process

Complaint:
This is a complaint against LoanCare a subsidiary of XXXX a mortgage company. 

I will include here a letter written directly to the aforementioned company that shows a request to assume the loan by another party that I had to place under contract as LoanCare refused to send the appropriate application packet. When finally sent and returned they said it wasn't approved. When I asked why they could not articulate a coherent response. Calling back and getting a different representative i am informed they have no record of this application packet. 

I shouldnt be surprised as they had stated that they could not find my proof of insurance, I am willing to provide proof that it was sent 4 times by my agent mailed, faxed and through their computer system. After 2 months I think that has been resolved though I am not placing wagers based upon past performance. 

The previous, though not illegal, is an example of poor business practices. What follows strikes me as fraudulent activity. 
I attempted to have my escrow removed conversations preceded this date but on XXXX XXXX XXXXI was told all is good to have that removed. I have to submit a written request and wait for a review. They denied, it seems they lost the written request. Resubmit denied, Escrow must have zero balance, sent in {$2000.00} than {$700.00} then {$620.00}. Denied because i had to have no late payments for 12 months this is told to me in XXXX. This started in XXXX. I had been sending money to make it happen unfortunately the time to wait for their reviews had taken so long that now the XXXX payment was late. Had I been informed of this in a timely manner I could have addressed it at the correct time. Following is a summary of the amounts tendered at the times of the phone calls in an attempt to get this resolved then and now I am told it can not be changed or addressed for another year as long as I have no more late payments. As I am on a fixed income it is good that there are those out there with a sense of humor. Sadly at my expense. 
XXXX XXXX {$970.00} XXXX XXXX {$2000.00} XXXX XXXX {$690.00} XXXX XXXX {$700.00} XXXX XXXX {$780.00} When I asked now what? I have sent all this extra money that I don't have to meet the 3 months of being jacked around and take my money and give nothing in return. 
Management representative XXXX employee # XXXX said well you can resubmit I have already submitted 4 times and no matter how much money I send now, I still have a late fee for the first time in 2 decades. Will the response be any different?

Well NO but it may make you feel better. 

Did I mention how many times I was hung up on when I told the representative that I felt I was being taken advantage of that he was of no help and was giving me no direction just being insulting and demeaning. Nothing like quality service and this is nothing like quality service. 

Now for the part that involves the money for nothing and an attempt to defraud those they are supposed to be representing. I have sent this company proof of insurance with them listed as loss payee from my contracted representative. The contract states that he is responsible for taxes and insurance. 
I thought ok to keep current I will borrow enough to make the escrow cover next year 's insurance and then just have them hold the funds. When I discussed this with them I asked who gets the interest in this case and they said Not you. 
Now I am not a well educated individual but my escrow payment amount is {$1100.00} per month. Insurance annual premium is {$5000.00} a year and the amount these accountants and number wizards are collecting {$1100.00} time 12 months = {$13000.00}. Interest at 4.25 %. So {$13000.00} - {$5000.00} = {$7200.00}. I was told I would never have access to that money because it was needed to pay for last years and next years insurance. As last year is paid off and next year is prepaid I think I am being fed a story.

What if I am not the only one subjected to such actions this could amount to several million dollars. This is conjecture but I do get the feeling that they are taking advantage of more than just me. 

Now I have to address the XXXX and XXXX  aspects. I call and they mouth pretty words and offer no suggestions and as I have stated before waste time so they can add penalties. I have requested call backs and to date I have received a total of one call back.

I suffer from hearing loss and eye problems. Just writing this document will be followed by XXXX  and XXXX XXXX ( XXXX  and XXXX XXXX issues ). Not to mention the latest issue of XXXX  issues including XXXX and a XXXX XXXX. And another XXXX and XXXX, XXXX XXXX XXXX XXXX XXXX XXXX scheduled in a few months. Due to the severety of this issue typical spacing for this is 5 to 7 years. This is a direct result of the XXXX and helplessness that I am feeling now and no money to seek professional help. I would love for this company to pay for the XXXX  at least. 

My life in the military and exposure to XXXX XXXX following time in service as well as work at XXXX XXXX that process things like XXXX XXXX work on an island that stored and XXXX XXXX XXXX XXXX XXXX as well as XXXX XXXX XXXX XXXX XXXX. Needless to say I could have treated myself better. A life growing up in an era of lead paint and asbestos does potentially lead to other XXXX XXXX and I am afraid they are playing on this. 

I have now been placed in touch with XXXX employee number XXXX. Of the loss mitigation department obviously preparatory to foreclosure. I believe that despite all of my conversations, sending money and jumping through hoops, They have no interest in helping only stealing what I have spent decades through some very hard economic time trying to keep what I have invested so much in. At this point without any assistance and I stand in fear that they are now doing all they can to steal my property and retirement subsistence. 

What I would like to see at this time is allow XXXX  XXXX to assume the loan. I had to write a sob story to LoanCare for the reason for the assumption but the reality is it is none of their business but you play along when they are holding you by the XXXX and XXXX 

If that is not acceptable to the high and mighty then eliminate the escrow for the aforementioned reasons. I have been requesting a conversation with management Since late XXXX and finally on XXXX XXXX this request was met. Sadly you have already read XXXX # XXXX response. Spurring this complaint. 

Here is the second or third request for this individual to assume the loan. So much discussion that I have lost count with whom and about insurance, escrow or more recently loss mitigation has been discussed LoanCare XXXX XX/XX/XXXX XXXX XXXX XXXX XXXX  XXXX XXXX XXXX XXXX XXXX  XXXX VA XXXX Lead SD XXXX I XXXX XXXX Request that XXXX XXXX assume my loan XXXX. 
I was told by XXXX employee # XXXX That you want to hear my sob story and events leading up to this situation. Well here goes. 
Recent events regarding the escrow account that I can not get deleted despite the customer service representatives telling me to keep trying. Had this gone through in the promised timely manner I would never have been late for the first time in Decades in XX/XX/2020. 
Now I have been told there is nothing that can be done no matter that I have proof of insurance from another provider not through your escrow service. Of course the first three times I sent this proof directly from the provider the documentation got lost repeatedly. And I frequently felt I was transferred to another department or given some meaningless task to repeat and wait for the next escrow review ( Note XXXX to XXXX XXXX then I finally talked to a member of management XXXX employee # XXXX today XXXX XXXX XXXX Who repeated that there was nothing that could be done and transferred me to XXXX XXXX Who has now sent me to you. 
As far as the loan goes I will continue to send you {$700.00} per month. I have no more as I am on SS and a fixed income. As well as moderately XXXX. 
Currently I am now dealing with restricted driving due to XXXX  as a result of XXXX for a XXXX XXXX  ( License suspended ). When the war on energy occurred I had attempted to sell the property but there were no buyers to be had in an area of rapidly declining population followed by tenants with a less than stellar interest in caring for that which belongs to others and my inability to drive down from my primary residence about 4 hours away to make repairs and keep contractors to their promises resulting in freezing conditions from a homeless individual breaking in and turning on the water and with no heat. The date of this can be confirmed in police documents when they did an armed walk through. In addition the contractor had forged his city contractors license and has arrest warrants out and again this old guy is caught in the middle of it all while watching the roof blow off and knowing I will never see this individual again. Hence the ridiculous insurance.

My current health conditions are not looking to improve to the point of being able to keep up with the tenants and the maintenance. I have entered into a lease option with the aforementioned XXXX XXXX. As this was entered as legally binding agreement his interests must be protected If this is not a suitable arrangement then I again must refer you to the earlier statement of limited income. Both insurance and Taxes are current and paid in full and escrow has a {$0.00} balance if escrow cant be deleted and the loan cant be assumed then I have no choice. Not that I feel I have one now. 
I forgot to mention that a direct result of attempting to stay on good terms with you has resulted in a XXXX XXXX  and XXXX XXXX. Death and living directive were at the forefront of the resultant conversation. Perhaps this will soon rectify itself and how you handle the property of the deceased will no longer be my concern. 
I sincerely hope you can help rectify this situation. 
XXXX XXXX

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