Consumer complaint received 2022-08-20
Company: LoanCare, LLC
State: GA
Product: Mortgage
Sub-product: Conventional home mortgage
Issue: Struggling to pay mortgage

Complaint:
Due to financial hardship during the covid pandemic, we were on a 9-month forbearance plan that ended in XXXX of this year. Our financial hardship had ended at that time, and we were prepared to resume payments. However, our mortgage provider, XXXX LoanCare, neglected to provide adequate details on how to resume payments as well as REFUSED to accept any partial payments until the forbearance was brought current. We have been subsequently working back and forth with LoanCare for 5 MONTHS to submit all necessary documents for a loan modification. Every time we talk with them they require new additional information not previously mentioned. Once the new information is submitted, they take anywhere from 2-4 weeks to respond, and typically require MORE information. To date, we have provided them with bank statements for XX/XX/2022 through XX/XX/2022, two years worth of IRS tax returns, budget statements, hardship letters, explanation letters when they knit-pick over whose name a bank statement is sent to, explanation letters over who lives in the house and what their legal names are, social security numbers XXXX pay stubs for all earners in the house from XX/XX/2022 through XX/XX/2022, loss mitigation application ( 3 in fact ) and anything else they have asked for over the course of the last 5 months. We have ALWAYS responded in a timely manner. However, we feel certain that LoanCare is not working in the interest to keep us in our home, as they have repeatedly neglected to give us complete information in any timely manner, they have openly admitted that their reviewers did not properly read through our application or documents correctly, and as of 2 weeks ago, had not yet submitted ANY of our paperwork to underwriting. In the meantime, they have submitted our loan for foreclosure, referred us to a real estate lawyer for foreclosure proceedings, and notified us that our home will be SOLD OUT FROM UNDER US at no fault of our own on XX/XX/2022. WE HAVE DONE EVERYTHING ASKED OF US EXCEPT PAY THE {$100000.00} BALANCE OF THE MORTGAGE IN FULL. Of course, if we have that to pay, not only would we have never been in a covid forbearance plan to begin with, but I WOULDN'T HAVE EVEN NEEDED THE MORTGAGE COMPANY TO BEGIN WITH. As of today, Saturday, XX/XX/2022, all information requested by LoanCare has been submitted nearly 2 weeks ago, and we have not received ANY updates on underwriting submittal or approval, no updates on foreclosure sale dates, or requests for any additional information on our part. Despite asking for call backs to confirm receipt of all documentation, I have received no phone calls, and if they did attempt a call at all, it was during our working hours when I can not answer and no voicemail was left for return calls. We have tried REPEATEDLY today, during their posted business hours to contact them with NO success. We feel that they are simply running down the clock in order to proceed with the foreclosure and unethically steal our home from us. WE HAVE DONE EVERYTHING REQUESTED OF US and now, my family will be XXXX  after 8 years in this house simply because they can neither communicate or submit information in a timely manner. To make matters worse, this has already severely, negatively impacted our credit scores, and if the foreclosure proceeds, will prevent our family from being able to purchase a home or obtain financing on just about ANYTHING for at least the next 7 years. PLEASE HELP US STOP THIS FORECLOSURE IMMEDIATELY! WE ARE AT THE DESERATE POINT! 

I vehemently REFUSE to ever do business with XXXX LoanCare ever again, and I absolutely WOULD NOT recommend them to any homebuyer.

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