Consumer complaint received 2022-05-13
Company: LoanCare, LLC
State: NV
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Closing on a mortgage

Complaint:
The mortgage company is LoanCare. 


XX/XX/XXXX - I paid {$50000.00} towards the principal. 


XX/XX/XXXX - I paid {$50000.00} more towards the principal. 


XX/XX/XXXX - I tried to pay the remaining balance of {$48000.00} and I either accidentally applied it as a mortgage payment or it forced me to make it as a mortgage payment because that was the remaining balance on the loan. 


XX/XX/XXXX - I called customer service to let them know that I accidentally made my payment as a mortgage payment instead of a principal only payment. The lady on the phone said that she would move the payment from a mortgage payment to the principal. She said that it would be moved over in 7 to 10 business days. She also asked if I was trying to pay off the loan and I said yes. She said that I need to request a payoff statement so I did that after the call had ended. 


XX/XX/XXXX - I received the payoff statement in an email. The total amount to pay in full was {$450.00} cents. It says that you can wire the money or send a cashiers check. It says that the total amount is good until XX/XX/XXXX. 


XX/XX/XXXX - I called customer service again because I was concerned that they were going to charge me a late fee since the normal payment date on my loan is on the first of every month. Customer support said that I have nothing to worry about as long as they receive the money by XX/XX/XXXX for the payoff amount of {$450.00}. I explained that I had accidentally made the payment of {$48000.00} as a mortgage payment instead of a principal only payment and that the last person that I talked with on XX/XX/XXXX said that they were going to move it over the principal for me. I told her that I was going to go to the bank on XX/XX/XXXX and that I would try to wire the money for the payoff payment. 


XX/XX/XXXX - I went to the bank and they would not wire the money for me without making an appointment first. I showed them the paperwork and they said that they could do a cashiers check and we could send it that way. I did the cashiers check for the amount of {$450.00} to the payoff department. 


XX/XX/XXXX - I sent the check to : Attn : XXXX Department XXXX XXXX XXXX XXXX XXXX XXXX, VA XXXX XX/XX/XXXX - Called customer service because the principal was showing that {$48000.00} was still due. I told customer support what was going on and that I had accidentally made the payment for a mortgage payment instead of a principal payment. I told them that the lady was supposed to move it over for me when I called them on XX/XX/XXXX. I told them that she told me to request a payoff request and the total was for {$450.00}. I told him that I sent a cashiers check in the mail on XX/XX/XXXX. He said that once they receive the check that they will move the {$48000.00} to the principal balance. 


XX/XX/XXXX - Called customer service again because the balance on the principal was still showing {$48000.00}. Customer support said that they never moved the money over from the mortgage payment to the principal only payment. She said that she was going to move the money over for me. She said that it would be moved over by Friday XX/XX/XXXX. She also said that they never got the check for the payoff. She said that I would have to go to the bank and get them to give me a picture of the front and the back with the endorsement as proof that they had received the check for the loan payoff. She said that I need to send that to XXXX. She said if I can not show proof that they got the check that I would need a new payoff statement and she sent that to me in an email on XX/XX/XXXX and I am not paying that because they got the check. 


XX/XX/XXXX - Went to the bank to get a picture of the front and the back of the check with the endorsement. They told me that the check was cashed on XX/XX/XXXX and that was before the due date of XX/XX/XXXX. I sent an email to XXXX and I have that email printed out and on file on gmail.com. I attached the pictures of the front and back of the check with the payoff statement. 


XX/XX/XXXX - They sent me an email back saying, Thank you for contacting us! Your inquiry has been forwarded to the team of specialists experienced in resolving your request. 


XX/XX/XXXX - Called customer support again because it is still showing that I owe {$48000.00} on the principal. Customer support said that it will be moved over by Monday XX/XX/XXXX. I explained my situation and told him that I have sent the proof of payment to XXXX. He was trying to explain to me that I did the payoff payment wrong by sending the cashiers check and that I should have wired the money. The documentation clearly says that I can send a cashiers check. He mentioned the new payoff statement that the previous customer service representative sent me on Friday XX/XX/XXXX and he was trying to say that I have to pay that now and I said no because you received the check on XX/XX/XXXX and he said it takes time to get the check processed. He reassured me that the payment of {$48000.00} would be moved over to the principal balance on Monday XX/XX/XXXX. 


XX/XX/XXXX - Principal balance still shows that I owe {$48000.00} and it now shows that I am a delinquent and that my loan is currently 30 days or more past due. 


XX/XX/XXXX - I have not received any other emails from them after XX/XX/XXXX where they said that they are forwarding the email to the team of specialists experienced in resolving your request. I feel like the mortgage company has my {$48000.00} sitting in limbo and that they are trying to get me to pay another loan payoff. Every time I call they tell me something different. They either say we will move the money or we wont until we get the payoff payment. They have the payoff payment as of XX/XX/XXXX. I feel like I have given them enough time to respond to the email that I have sent them on XX/XX/XXXX. It has been 8 days. 


XX/XX/XXXX - Called customer service again and they said that the loan has been paid off and they got the payoff payment of {$450.00} and it was payed to a different loan on accident according to them. At the moment, I dont have to pay anything. And they said that the {$450.00} is being transferred to my account. They said that they will close the account within the next 5 days. 


XX/XX/XXXX - I kept getting calls about being late on my mortgage and the automated messaging system told me that I needed to call in about it. I called customer support and they were questioning me on why I was late on my loan. I told them that I was not late on the loan and that they used my payoff payment on someone else 's loan. I told them that that when I called customer support on XX/XX/XXXX that the money for the payoff payment would be moved into my account by Wednesday, XX/XX/XXXX. 


They escalated it and someone else took the call. I explained everything to them once again. She said that she does see where they used my payoff payment on someone elses loan and she told me that the money would be in by Friday, XX/XX/XXXX. I asked her if my credit is going to drop since they think that I owe money on this loan and she told me that I have nothing to worry about. I asked her if I can get this in writing where it says that the payoff payment is going to be in my account by Friday and that I do not owe anything on the loan and she said that she would send me an email with the transcript. I never got the email. 


XX/XX/XXXX - It still shows that I owe {$48000.00} and I don't see anywhere where it shows that the payoff payment of {$450.00} was applied to my loan. The money has still not been moved over. I do not understand how they used my payoff payment on someone else 's loan and why it is taking so long to get the payment moved over to my account. I have done everything that they have asked.

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