Consumer complaint received 2018-12-12
Product: Mortgage — Conventional home mortgage
Issue: Struggling to pay mortgage — 
Company: LoanCare, LLC (NY)

I want to express my frustration on working on a loan modification to save my house with L

oan Care, which they are the servicing company out in XXXX XXXX, Virginia on behalf of XXXX XXXX XXXX  This bank has made it so difficult for us to obtain a Loan Modification after obtaining the servicing rights from XXXX earlier this year. We were in the process of having our loan modification approved towards the end of the year XX/XX/XXXX when the file was with XXXX. They kept advising us that the file was under review. Next thing you know they requested more documents which had to do with my pay stubs, my sister and my brother in law in which we all reside at the property together as our primary residence. After the submission of the pay stubs, they advise that the file was under review. When we kept calling the bank, a different representative from the " customer relationship team '' kept coming on and kept telling us that the file was under review, pending a decision from underwriter. The file was like this for almost a month and a half until they sold their servicing rights to Loan Care. I don't understand how if I had a process pending, which was waiting just a decision after us sending documents for almost a whole year, just gets transfer before giving us a resolution.I personally felt they dragged the file along, with nothing being done until they transfer the servicing rights. Once the file was transfer to Loan Care, they advise us that nothing can not be reviewed until the file was fully transfer which took almost a month and a half to do so. XXXX was supposed to send over the application we were working on from the previous file, but when we spoke to Loan Care, nothing was sent over from XXXX  which worries me on what were they really working on the whole time.

We started an application to save our house with Loan Care. They requested a fully executed application, and we sent it over as well. Through the process of loan care, we were sending every documents they requested, such as income documentation, documents representing our hardship, updated bank statements etc. They came to us and said that we did not qualify for a loan modification because our income did not meet the criteria for a loan modification. I don't understand how if we presented more than enough income to support our house more than 50 % of our expenses which would include the mortgage towards the house. I work full time, my sister works full time, and my brother in law also works full time. We all share the expenses of the house together, and we all can afford this house and save our home. Now this bank is being complicated and denied us for the loan modification which we have been under process for almost 2 years now. We were facing a hardship when we felt behind on our mortgage payment, we want to pay our debt back and we can assume the whole debt of the house hold, but we need your help. Loan Care has made it impossible to have the file be reviewed because of the sales date. Our sales date in XX/XX/XXXX and we are worried to loose our house that we have worked hard for. It is my understanding that when you are working towards a Loan Modification, the file must be placed on hold until a resolution be generated, whether is to save a house through a Loan Modification, or selling the house through a short sale, the consumer has the right to come up with a solutions before the house is sold in a foreclosure auction proceedings. You have executed dual tracking on my mortgage, and we have every right to cancel the foreclosure sales date until a resolution is reached between us as a mutual agreement. You Loan Care and XXXX feel that you can just clean your hands by selling the house in a foreclosure, and obtain your debt right away and a win situation for you. Im the one whose loosing, I have my mother who is elderly living in our house and with my kids, and you want to sell the house specially in the winter time. This is just awful and so wrong to kick us on the streets specially with this situation of an elderly woman and our kids. I just want to be reviewed for the loan modification, and once approved, you can have your money back plus even more. Please help me eliminate the sale auction of XXXX XXXX XXXX until we can come with a mutual agreement, and a win situation not only for me, but you guys as well.