Consumer complaint received 2020-11-21
Company: LoanCare, LLC
State: AZ
Product: Mortgage
Sub-product: FHA mortgage
Issue: Struggling to pay mortgage

Complaint:
I am filing this complaint to report the mishandling of my Loss Mitigation Loan Modification request and the time it has taken to fully complete this request. 

On XX/XX/XXXX, I applied for a Loss Mitigation - Loan Modification due to loss of employment and decreased income. I was approved for the Loan Modification request on XXXX XXXX. I was approved for a lower loan payment of {$980.00} ; a decrease from the original payment amount of {$1200.00}. I then completed my trial payments for the following months : XX/XX/XXXX, XX/XX/XXXX, and XX/XX/XXXX. Then on XX/XX/XXXX, I received a phone call from LoanCare Loss Mitigation Department, asking me to email them a copy of my Trust documents. I sent the copy of my Trust documents to LoanCare via email on XX/XX/XXXX, as requested. 

This is where everything goes downhill. I then received a notification from LoanCare on XX/XX/XXXX, stating my Loan Modification request was denied as they said I failed to provide requested documents. I became very frustrated and worried as I did submit all requested documents in a timely manner. 

I called LoanCare and escalated my concerns to a manager. I spoke with XXXX XXXX and emailed her ( Cc 'd Loss Mitigation Department ), another copy of the Trust document, on XX/XX/XXXX, and then again for a 3rd time on XX/XX/XXXX. XXXX then submitted my appeal from the denial and advised me that it would take 30 days for an answer. 

During the 30-day waiting period, I was in constant contact with LoanCare via email and telephone. I contacted LoanCare several days, every week, until the 30 days passed. I then received a call from XXXX XXXX with LoanCare on XX/XX/XXXX, stating my appeal was approved and that I would need to wait another 30 days to see where they would go from there. 

During this waiting period, I was in constant contact with LoanCare via email and telephone. I contacted LoanCare several days, every week, until the 30 days passed. However, I never received any updates as to why my request was taking so long. Every time I called, over the last few months, I have been told something different. If further examples or information is needed, I am happy to provide. 

I ultimately received my final loan documents for the Loan Modification request on XX/XX/XXXX. I completed, signed, notarized, and sent the document back overnight on XX/XX/XXXX. LoanCare received the documents on Friday, XX/XX/XXXX and batched it into their system on Monday, XX/XX/XXXX, late in the day. 

I called and spoke with several representatives the Monday morning of XX/XX/XXXX. One of the representatives was rude to me and advised that it will take 1 to 3 months to finalize the Loan Modification request. This frustrated and worried me, as this has gone on way too long. I requested a supervisor and reported my concerns. 

I am now filing an official complaint as I feel this is not right. I have been getting strung along for almost a year, and my lawyer advised me a Loan Modification does not take a year to complete. I feel I have been treated unfairly, and I was penalized for a mistake LoanCare made. They delayed my request further, even though it was their error in not documenting their receipt, of the initial copy of the Trust document, I sent back in XX/XX/XXXX. I have a confirmed sent receipt and was able to prove I sent the documents to them. Yet, even with the appeal approval and multiple escalation requests for rush, my request was never expedited nor completed in a timely manner. 

I am now kindly requesting an Agency Escalation, that my signed loan modification documents be recorded to the County Recorders Office and be fully resolved and completed as soon as possible ; no later than XX/XX/XXXX. 

Thank you for your help and time.

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