Loan Care Mortgage Complaint

Loan Care Mortgage department,

Conventional fixed mortgage Loan servicing, payments, escrow account Illinois

Our loan was sold by - to -Loan Care after being with them over a year. Our mortgage payment is going up considerably because our property taxes went up, so there is a shortage in our escrow account after being sold. We would like to handle our own escrow account so our monthly mortgage payment does not go up so much that is becomes unaffordable. The issue is that by law the mortgage company is allowed to collect more than they need in order to have a reserve, which impacts our monthly mortgage payment. By managing our own escrow account we can just continue to pay enough to cover the taxes and homeowners insurance. The other issue is that we can never get through to anyone that can make a decisiion in the Escalation Department and Customer Service will not give us a direct number. My wife has been calling and sitting on hold for hours and than will get conflicting information on their policy. It seems like they just want to run out the clock since we either have to give them a lump sum by our - 2016 payment or pay the new monthly payment which is $300.00 more than we we have been paying.