Consumer complaint received 2024-12-24 00:00:00
Product: Mortgage — FHA mortgage
Issue: Struggling to pay mortgage — Foreclosure
Company: LoanCare, LLC
State: TX

Complaint narrative:
We started the process for a loan modification in XXXX because we went from XXXX incomes to XXXX due to XXXX  problems my husband was undergoing. The modification was approved and should have been finalized in XX/XX/XXXX. However, something was messed up and Loancare never finalized the modification. After repeatedly checking in with Loancare XXXX times a month, it wasnt until around XX/XX/XXXX that they finally reprocessed the modification and approved it. Unfortunately, it only reduced my mortgage payment by $ XXXXmonth, which wasnt really enough to be helpful. 

At that time, my husband had his XXXX and XXXX XXXX  and was XXXX  to the point of needing a XXXX XXXX XXXX. My adult son left his job in XX/XX/XXXX to take care of his dad/my husband. At that point, we were reduced to a single income household. We ended up maxing out credit cards, needing to join a debt recovery program, and depleted all of our savings trying to care for my husband and maintain the house. 

By late XXXX XXXX, it was apparent that it would not work. Utilities on this house are very high and my husband now has special dietary constraints that greatly increased food expenses. As a result, I was able to cover bills and food or mortgage and food, but not all XXXX. 

I received a letter in XX/XX/XXXX stating our account was being referred to an attorney to begin foreclosure proceedings. I contacted Loancare to see what could be done to avoid a foreclosure. They were very dismissive of me and said I could try to apply for another loan modification or I could make a large sum payment to reinstate my account to good standing. I did not feel a new loan modification would be a valid option since I would need it reduced $ XXXXmonth to fit into our reduced household income. 

I chose to contact a realtor in XX/XX/XXXX to try to sell the house. The one I spoke to recommended a short sale. When we spoke to Loancare again, they were somewhat agreeable to the idea of a short sale being an option but referred all communication to the attorney. For reasons unknown to me, the realtor was us able to assist me further and the house was never listed. 

Since then Ive been attempting to find a realtor that will assist me or find a cash buyer for the home as Id still prefer to sell rather than go to foreclosure. Because of the loan modification, there are XXXX title liens on the house. This is making it very difficult to find anyone to assist me ; everyone says the house is simply too upside down to be worth their time and effort. 

As late as XXXX, I spoke with Loancare again about a possible short sale, but they again were dismissive, stated they were unable to proved me with any assistance, and referred me to the attorney. It took me 2 weeks to contact the attorney, as the number on the letterhead had a full voicemail, there was no direct contact info for the attorney, and responses to the email address that had provided the previous letters did not respond to any of my requests for assistance. Upon finally contacting the attorney, I learned an auction date of XX/XX/XXXX had been set. 

As of today, Im still working to try to sell the house before the upcoming auction date.

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