Consumer complaint received 2021-06-22
Company: LoanCare, LLC
State: AL
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Closing on a mortgage

Complaint:
In an attempt to fend off foreclosure due to the pandemic and health issues, I have been forced to sell my only home. I have a current buyer me contract and a closing date of XX/XX/2021. This date falls squarely within the 90 day forbearance period currently granted to me. Like every other single correspondence ( or lack of correspondence ) with my loan servicer, LoanCare ( of XXXX  XXXX ), it has been one nightmare after another dating back to the time when LoanCare became my servicer. The latest and most pressing problem is getting the payoff amount of the current mortgage in order to close the sale of my home. I've tried calling, using their website, and emailing them on occasions too numerous to count. Calling is simply a fools errand - the last time I called in early XXXX, I waited on hold for 45 minutes in queue only to be disconnected. The LoanCare website does not work for me at all. The closing attorney company has tried reaching LoanCare numerous times as well without any luck - to the point where they solicited my assistance as though I had some magic solution to LoanCare 's incompetence. My real estate agent found an email address for me and I began emailing LoanCare over a week ago. Their first email response took at least 2 days and stated they needed more information which I immediately provided including my signature, my loan number, and my name as it appears on their documentation ( I would know this how? ). That was a week ago. No further response from them since. There also are unexplained charges which I've asked repeatedly for explanation and which have also fallen on deaf ears. I realize this company is less than honorable judging by the fines levied against them by the CFPB but I never thought they would obstruct paying off my note. With only 4 days until my closing, I am stuck between a rock and a hard place. If I can not get a payoff amount then I can not close and satisfy my note. If LoanCare continues to drag their feet long enough then they can foreclose on a home which seems to be their preferred way of doing business. I simply want LoanCare to do their job, provide me and the closing attorneys with my loan playoff amount, and then let me get as far from them as possible. Hopefully, one day the CFPB will put this company out of business once and for all. In closing, please contact me if I can assist in building a case against this horrible company. I will be more than happy to share my documented and nightmarish dealings with LoanCare with the CFPB and any other agencies involved with policing shady mortgage dealings. My LoanCare nightmare began the day XXXX closed its doors and transferred my mortgage to LoanCare and it continues to this day. Beyond sharing my experiences, I will gladly be a witness and detail the numerous obstructive practices LoanCare utilizes to foreclose on their customers. Finally and most importantly, before LoanCare, I had a perfect record paying my mortgage payments on time for over 20 years.

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