Consumer complaint received 2023-02-17 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Struggling to pay mortgage — 
Company: LoanCare, LLC
State: NM

Complaint narrative:
My mortgage loan is being serviced by XXXX XXXX and Loan Care. I have been trying to fix things with this company since Covid and other circumstances made it difficult to pay my mortgage payment to them. Now I am facing a foreclosure sale date in the next month. My family has owned this house for over 50 years, and I grew up here and put the home in my name in XXXX. I have a good XXXX XXXX loan and never had any problems making the payment in the past. During the pandemic XXXX XXXX worked with me and told me there was a forbearance program so they were OK if I could not make the payments. But since Covid ended I have been trying to get them to review the paperwork I send to them but they continually say they are missing things or I did not sign and date in the right place or that the documents I sent in three weeks ago have expired. I feel like they are making it very hard to be reviewed for help and I just found out in court that they want to sell my house. I received a letter from Loan Care in XX/XX/XXXX stating that I qualified for the XXXX XXXX flex modification and that details would be coming soon. In XX/XX/XXXX I received a letter stating that I was approved for the XXXX XXXX flex modification and that I would soon receive the payment information and new terms along with paperwork to sign. However, this information was never sent to me. A couple of weeks later I received a letter that contradicted the approval. It said that I was denied for assistance options because my package was incomplete. This made no sense and I believe that Loan Care intentionally denied me access to programs that I qualified for. I have included copies of these confusing letters. 

I am frustrated because I am back on my feet financially and want to fix this and pay them but they have not reviewed the most recent financial information. I began having problems several years ago when I got divorced. There was a very nasty custody battle and I spent lots of money on legal fees because I wanted to be sure that my son was taken care of. Due to these extra expenses and time missed from work I applied for a loan modification in XXXX which lowered my payment and interest rate. I paid as agreed on this modification for several months. I had started a construction business and we were struggling to get the business off the ground. I was still working for the fire department at that time and on one of our calls there was an explosion of fireworks that killed one of my co-workers and resulted in major trauma and hearing loss for me. I had to go through XXXX therapy and this put a stranglehold on the business and also lost hours while I went through the process of recovery and insurance. 

Just as I was getting my business back on track Covid hit New Mexico and most of the construction jobs that I had lined up got cancelled. At this time Loan Care took over the servicing of the loan and I spoke with them frequently regarding my financial struggles from the pandemic and they told me it was OK and I could skip the payments for now. In late XXXX I applied for help and as I explained they told me in writing I was approved, but never sent the paperwork. I continued to attempt to get a review completed of my current finances but kept running into obstacles with Loan Care. I was always told that documents were missing or the information was not complete so instead of helping me find a path to save my home and resume payments I now face foreclosure auction. I own a construction business that was devastated during Covid but is now doing well again and I have a firefighters pension also, and my wife XXXX also works full time. We feel that we deserve a chance to be reviewed for all Fannie Mae programs or other programs put in place for business owners who got crushed by Covid to get back on track with their mortgage instead of losing my family home.

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