Consumer complaint received 2025-11-08 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: NC

Complaint narrative:
My home was damaged extensively during XXXX XXXX on XX/XX/XXXX. Since then I have struggled to get my home insurer, XXXX, and now XXXX/Loancare to pay the money necessary to repair my house to it's XXXX  condition. Some of the steps I have taken have included hiring a Public Adjuster, submitting contractor estimates and worksheets and having repeated field adjusters re-inspect my home. To date, the insurance has made enough payments to at least begin work on my home repairs, if not complete those repairs. 

As I have a mortgage on my home, my homeowners insurance, XXXX has issued a number of checks in my and my mortgage servicers company name, Loancare LLC to cover the cost of my home rebuild, which I endorse and mail to Loancare. Loancare utilizes XXXX XXXX XXXX XXXX to administrate the proceeds of my insurance claim. 

In XXXX the home tested positive for asbestos. XXXX approved abatement and the abatement was performed and completed by XX/XX/XXXX by XXXX XXXX XXXX. This removed all of the contents of the interior of my home, down to the framing and ready for the rebuild. The invoice for the abatement totaled {$52000.00}. Insuranceclaimcheck.com stalled and delayed the payment until XX/XX/XXXX. It took numerous phone calls, letters to Loancare, and a complaint to the XXXX XXXXXXXX XXXX XXXX before they would release a check to pay the contractor who did the abatement work. 

I have now signed a contract with XXXX XXXX XXXX XXXX to begin the work of rebuilding my home and am requesting Loancare to release the initial payment needed for them to begin work- XXXX  % of the total estimated cost of repair : {$51000.00}. I have submitted all required documents and have made numerous phone calls requesting a check to the contractor only to be told different things. I have been told that the request is being reviewed and this review will take XXXX days by XXXX occasions ( XX/XX/XXXX by XXXX and XX/XX/XXXX by XXXX. On the XXXX day after my initial request of approval ( XX/XX/XXXX ), I spoke with XXXX XXXX last names or any other identifying info is never given ) at XXXX  and was told there is no limit to the number of days for the decision to disperse a payment to my contractor and that they can take as long as they wish. When I asked to have this request expedited, XXXX pretended to suddenly not be able to hear me and ended the call. This is a typical tactic that they have used in the past with me. 

I have a contract that I am obligated to honor and my contractor has a team ready and eager to start work on my home. If they are not able to start work very soon, they will have to be moving onto other paying jobs and my home repair will be even further delayed. They can not begin work without payment. 

It has been over a year since XXXX and my family and I are unable to live in our home that I am continuing to make mortgage payments on- my roof is destroyed, there is no electricity or plumbing fixtures or interior walls. The home is uninhabitable. I will be capped out of Additional Living Expenses ( my insurance covering our rental ) on XX/XX/XXXX. All these delays- from XXXX and now Loancare ( XXXX ) are causing EXTREME financial distress to me and my family. We will be paying rent as well as our mortgage. These delays are deliberate on the part of Loancare in the hopes that my mortgage will go into default and they will be able to keep my home, equity, the payments from XXXX while making interest off this money, and profit off the misery and misfortune of my family. 

Congress and regulatory agencies, including the XXXX need to be doing more to protect American Homeowners from these predatory companies who are profiteering from these natural disasters.

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