Consumer complaint received 2022-02-24
Product: Mortgage — Conventional home mortgage
Issue: Struggling to pay mortgage — 
Company: LoanCare, LLC (GA)

Please find the below complaint for your record, I sent again by Certified Mail to Loan Care and to XXXX XXXX to resolve this problem and pin pointed their misconduct. 

XXXX XXXX XXXX XXXX XXXX XXXX XXXX, XXXX GA XXXX SUBJECT : LOAN # XXXX CERTIFIED MAIL BY RETURN RECEPT # XXXX XXXX XXXX XXXX XXXX XXXX : XXXX XXXX Legal / Licensing. Loan Care, LLC XXXX XXXX XXXX, XXXX  XXXX. VA XXXX Respected XXXX XXXX XXXX! 
Your name was referred to me by the Georgia Department of Banking and Finance. 
I have called many times, tried talking to Loan Care but unfortunately, I was never able to get in touch with anyone who could assist me or advise me with the situation I am going through. Every time I called the loan care customer service department and explained my situation and further asked for assistance - I was always misguided and misled by Loan Care. I have highlighted the respective timeline and instances below. 
1. The first instance was in XX/XX/XXXX ; I called Loan Care and explained the difficult situation- I indicated that my Interest rate is 4.375 % and it is very high, and I wanted to lower my interest rate so it will reduce my monthly mortgage payment by {$300.00} - {$400.00} a month and it would make it an affordable payment for me. I was advised that I need to apply for a loan modification, this was misleading and misguiding. The representatives should have advised me to refinance. I was given third-hand information that Loan Care did not advise me to refinance because of their own business interest. Under these circumstances, misguiding and misleading is in violation of the Fair Housing, Fair Lending Act, and RESPA Guidelines. After being advised by Loan Care, I applied for the loan modification and was put on a 3-month trial payment for XX/XX/XXXX, XX/XX/XXXX, and XX/XX/XXXX respectively. I made the 3 monthly trial payments and was given the loan modification contract indicating the same interest rate of 4.375 % and length that the loan 40 years. The modification process does not guarantee the interest rate to be reduced, instead, I should have been advised to apply for refinancing. I refused this modification and contacted the HUD-approved housing counselor. 

2. The Second instance was during the COVID-19 pandemic which disrupted others jobs and loss of income and I found myself facing the same situation. I contacted Loan Care again, explained the situation and I was again misguided and advised to apply for the loan modification. My question here is why they did not advise me again that I should apply for refinancing instead of a loan modification to reduce my interest rate?. I was sent the 3-month trial payment notice dated XX/XX/XXXX, and I received it on XX/XX/XXXX. I called Loan care again and asked why this notice is so late and the XXXX of XXXX has passed now. I also asked what my interest rate would be, and I was told that my interest is the same 4.375 %, and I was shocked to hear this again. Two wrongs can not make one right. All the above further indicates that there is something wrong with Loan Care. How come they are unable to understand how to assist a customer and help them properly? Having this problem and misleading it, again and again, is making me feel that I am being misled, misguided, and discriminated against based on Race, Color, and National Origin. 
3. I am not asking for any charity here. All I am asking is to refinance my loan and reduce the interest rate as per the Federal Government announced under the situation with COVID-19, so I can make an affordable payment and live my life. It has been almost 26 months. I have been struggling to get my interest rate lowered to make an affordable payment and your mortgage company did not help and did not advise me properly. Every time I talked with someone from Loan Care, I was misguided and given incorrect information. Whenever I communicated that I wanted to reduce my interest rate, they always misguided me. Again, I was never told that in order to get a lower interest rate I had to apply for refinancing. I was never told that loan modification would not reduce my interest rate, only refinance will lower ones interest rate. Based on the continuous misguiding and misleading I have a strong feeling that I have been discriminated against based on my race, color, and national origin, if not, then what is this? This is the Million Dollars Question, and I am sure Loan Care doesnt have an answer at all. 
MY COMPLAINT I requested to reduce my interest rate to Loan Care in XX/XX/XXXX, as it was hard to pay a high-interest rate. They promised, if I apply for a loan modification, my interest rate would be reduced. I requested to refinance based on my good credit and payment record. They informed and insisted that the only way to get the requested relief was to apply for loan modification. On their insistence and information that my interest rate would be reduced, I applied for loan modification twice, but they did not reduce the interest rate at all and now they are refusing to refinance and unwilling to take ownership of their mistake. If I would have been advised for refinancing from day one, I could have gotten refinanced at 2 % or less while I was current on my mortgage with good credit. Now I can not refinance from anywhere and Loan Care is fully responsible for the continuous and intentional misguidance. They refuse to reply to my voicemails, emails, and certified mail - all knowingly and willfully. In good faith, I reminded them of our conversations, but they aren't resolving the issue, but are instead are threatening me. As stated before, my original request was to reduce the interest rate which is 4.375 %. I believe they have misled me intentionally. I respectfully request assistance in negotiating the terms of modification reflecting the original promise of reducing its interest rate and waiving all unlawful late fees and penalties, they have levied without cause and in violation of my consumer rights. If this was not done intentionally multiple times, then what happened? Why was I misguided and misled? There is someone somewhere who can answer this question and I have the right to a correct answer and to get this problem fixed as soon as possible. 

Below is my Reasonable and fair resolution. 
1. Refinance my loan from XX/XX/XXXX at the interest rate of 1.85 % - 2.0 % with what I was going to receive it had been advised for refinancing at that time. 
2. Waive all late fees, penalties, and interest. 
3. Apply for grants from the Federal Government for homeowners under the Pandemic and hardship situation. 
4. I strongly believe that my demand is very reasonable under the circumstances I have been misguided, ignored, and treated differently than the average American. 

Best Regards. 
XXXX XXXX XXXX Loan Care Loan # XXXX Phone. XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX GA XXXX SUBJECT : LOAN # XXXX CERTIFIED MAIL BY RETURN RECEPT # XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX Consumer Resource Center XXXX XXXX XXXX, XXXX Washington. DC XXXX Georgia Department of Banking and Finance referred me to XXXX XXXX as Mortgage Loan Investor for Loan Care LLC. 
I have called many times, tried talking to Loan Care but unfortunately, I was never able to get in touch with anyone who could assist me or advise me with the situation I am going through. Every time I called the loan care customer service department and explained my situation and further asked for assistance - I was always misguided and misled by Loan Care. I have highlighted the respective timeline and instances below. 
1. The first instance was in XX/XX/XXXX ; I called Loan Care and explained the difficult situation- I indicated that my Interest rate is 4.375 % and it is very high, and I wanted to lower my interest rate so it will reduce my monthly mortgage payment by {$300.00} - {$400.00} a month and it would make it an affordable payment for me. I was advised that I need to apply for a loan modification, this was misleading and misguiding. The representatives should have advised me to refinance. I was given third-hand information that Loan Care did not advise me to refinance because of their own business interest. Under these circumstances, misguiding and misleading is in violation of the Fair Housing, Fair Lending Act, and RESPA Guidelines. After being advised by Loan Care, I applied for the loan modification and was put on a 3-month trial payment for XX/XX/XXXX, XX/XX/XXXX, and XX/XX/XXXX respectively. I made the 3 monthly trial payments and was given the loan modification contract indicating the same interest rate of 4.375 % and length that the loan 40 years. The modification process does not guarantee the interest rate to be reduced, instead, I should have been advised to apply for refinancing. I refused this modification and contacted the HUD-approved housing counselor. 

2. The Second instance was during the COVID-19 pandemic which disrupted others jobs and loss of income and I found myself facing the same situation. I contacted Loan Care again, explained the situation and I was again misguided and advised to apply for the loan modification. My question here is why they did not advise me again that I should apply for refinancing instead of a loan modification to reduce my interest rate?. I was sent the 3-month trial payment notice dated XX/XX/XXXX, and I received it on XX/XX/XXXX. I called Loan care again and asked why this notice is so late and the XXXX of XXXX has passed now. I also asked what my interest rate would be, and I was told that my interest is the same 4.375 %, and I was shocked to hear this again. Two wrongs can not make one right. All the above further indicates that there is something wrong with Loan Care. How come they are unable to understand how to assist a customer and help them properly? Having this problem and misleading it, again and again, is making me feel that I am being misled, misguided, and discriminated against based on Race, Color, and National Origin. 
3. I am not asking for any charity here. All I am asking is to refinance my loan and reduce the interest rate as per the Federal Government announced under the situation with COVID-19, so I can make an affordable payment and live my life. It has been almost 26 months. I have been struggling to get my interest rate lowered to make an affordable payment and your mortgage company did not help and did not advise me properly. Every time I talked with someone from Loan Care, I was misguided and given incorrect information. Whenever I communicated that I wanted to reduce my interest rate, they always misguided me. Again, I was never told that in order to get a lower interest rate I had to apply for refinancing. I was never told that loan modification would not reduce my interest rate, only refinance will lower ones interest rate. Based on the continuous misguiding and misleading I have a strong feeling that I have been discriminated against based on my race, color, and national origin, if not, then what is this? This is the Million Dollars Question, and I am sure Loan Care doesnt have an answer at all. 
MY COMPLAINT I requested to reduce my interest rate to Loan Care in XX/XX/XXXX, as it was hard to pay a high-interest rate. They promised, if I apply for a loan modification, my interest rate would be reduced. I requested to refinance based on my good credit and payment record. They informed and insisted that the only way to get the requested relief was to apply for loan modification. On their insistence and information that my interest rate would be reduced, I applied for loan modification twice, but they did not reduce the interest rate at all and now they are refusing to refinance and unwilling to take ownership of their mistake. If I would have been advised for refinancing from day one, I could have gotten refinanced at 2 % or less while I was current on my mortgage with good credit. Now I can not refinance from anywhere and Loan Care is fully responsible for the continuous and intentional misguidance. They refuse to reply to my voicemails, emails, and certified mail - all knowingly and willfully. In good faith, I reminded them of our conversations, but they aren't resolving the issue, but are instead are threatening me. As stated before, my original request was to reduce the interest rate which is 4.375 %. I believe they have misled me intentionally. I respectfully request assistance in negotiating the terms of modification reflecting the original promise of reducing its interest rate and waiving all unlawful late fees and penalties, they have levied without cause and in violation of my consumer rights. If this was not done intentionally multiple times, then what happened? Why was I misguided and misled? There is someone somewhere who can answer this question and I have the right to a correct answer and to get this problem fixed as soon as possible. 

Below is my Reasonable and fair resolution. 
1. Refinance my loan from XX/XX/XXXX at the interest rate of 1.85 % - 2.0 % with what I was going to receive it had been advised for refinancing at that time. 
2. Waive all late fees, penalties, and interest.

3. Apply for grants from the Federal Government for homeowners under the Pandemic and hardship situation. 
4. I strongly believe that my demand is very reasonable under the circumstances I have been misguided, ignored, and treated differently than the average American. 


Best Regards. 
XXXX XXXX XXXX Loan Care Loan # XXXX Phone. XXXX XXXX XXXX