Consumer complaint received 2025-07-24 00:00:00
Product: Mortgage — Conventional home mortgage
Issue: Trouble during payment process — Trying to communicate with the company to fix an issue while managing or servicing your loan
Company: LoanCare, LLC
State: NY

Complaint narrative:
In XXXX of 2025 we refinanced our house and got a mortgage of {$170000.00}. Our mortgage company is Loancare. Had a insurance claim on our home for water damage through XXXXXXXX XXXX where we were issued an {$80000.00} insurance claim. They gave us a check for {$74000.00} ( these numbers and dates XXXX be estimated ). We had to send the check from XXXX XXXX to Loancare so they could administer the funds as seen fit. They said that it usually comes in thirds. They send out an initial check once you prove documentation. Then they send out a second check after an inspection has been done. Once the work is finished they give you a third check. We submitted all documents and a request for all funds released. 

My husband took the time off of work to complete the water remediation that needed to be done when the water damage happened to prevent mold. We are now a month out from the damage and we have not seen a cent. We overnighted the check XX/XX/2025. We submitted the paperwork on XX/XX/XXXX. We were told that all paperwork was accepted XX/XX/XXXX. Then that a check should be released on Monday the XXXX. We are now here at Wednesday the XXXX and they are still trying to tell me that my my documents ( insurance adjuster sheet specifically ) is not accepted. Yet again, on XX/XX/XXXX I spoke to someone in the escalations department and they looked at the the paperwork and they said that it was all there and that we were clear and we would have an answer by tonight whether we would be getting XXXX check or release of full funds. A hope of atleast something. We are majority owners in the home. We own approximately 80 %. We have cared for this home for the last 18 months we've been here. We put on a new roof. We ripped out the old driveway and installed a new driveway. We removed over an acre of trees. We have shown a commitment to caring for our property. Now we are sitting in an almost XXXX dollar home with plywood for flooring. They are saying that we need to provide this documentation which we have. When I tell them I would like to go to the next step. Since we already completed water and mediation and we need money to order flooring. They tell me that we can not move forward because we didn't complete the first step. Then they keep telling me that it'll be XXXX to XXXX business days, XXXX to XXXX business days and for that I don't even know if that's when the check 's actually going to be released. That's just when they're going to make a decision possibly whether we can get our first check or not. 

I have XXXX small children XXXX, XXXX, and XXXX. I'm trying to get this done and it is inhumane that they are not releasing our funds. 

I recently checked their reviews and saw multiple reviews that said that they either had their insurance claims never given to them or that they had to fully fund their fix while they held on to the check. I want the full amount of money so that I can complete this project and I them to then sell our account. I don't even know if that's something that you guys can get them to do but this company is deplorable.

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