Consumer complaint received 2017-11-20
Company: LoanCare, LLC
State: AZ
Product: Mortgage
Sub-product: FHA mortgage
Issue: Struggling to pay mortgage

Complaint:
The holder of my FHA mortgage loan Loancare is refusing to review or look at my current financial information to consider me for loan modification or other homeowner assistance programs. Every time I call I speak to a different person, and they give me the runaround and have set a foreclosure sale date instead of letting me be considered for any homeowner assistance programs. They have set a sale date of XX/XX/XXXX, and over the past several months have never once looked at the paperwork I submitted or given me any feedback or communication. Additionally they have failed to provide Occupied Conveyance paperwork prior to the scheduling of the sale date as required by HUD guidelines. 

I bought this home a little over a year ago. At the time I was making a solid living in sales, and my wife worked at a doctor 's office. We applied for and were qualified for this FHA government purchase loan based on our income at that time. Not long after buying the home my wife was involved in a bad car accident. She was unable to work and I had to take a couple of months off to care for her, so for a period of time there was NO income coming in. When I went back to work the business had dramatically slowed down and it was the holiday season so it was a bad time to try and switch and find a new sales job. Once my wife was ready to go back to work she found that her hours were drastically cut because the doctor she worked for was cutting back on his hours and went on a long vacation as well. The combination of these factors over a few months affected our income and we ended up defaulting on our loan. 

I immediately contacted Loancare to try and resolve this matter and offered to make partial payments while I got back on my feet. I was told no, that I should wait and make the full payment when I could. When I called back to try and make the full payment I was told that they would not accept it because now they needed two months of mortgage payments AND late fees in order to accept my payment. I could not do this and the situation began to snowball. I contacted their agents repeatedly to request the chance to be considered for a loan modification. Every time I called in I would talk to someone different. No one gave me the option to apply for help or be reviewed for any programs, instead I was told the only thing I could do was reinstate the loan. 

I have since found a new job and make a solid living again. I have filled out the home retention package and sent it in to Loancare on several occasions but have never actually been reviewed, never had an assessment completed of my financial circumstances and have never had a point of contact assigned. Instead Loancare marches to foreclosure and denies me access to these programs they are required to review me for. I can afford a reasonable payment and deserve the chance to fix this problem and get back into regular payments on my mortgage loan with Loancare.

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