Loan Care Mortgage Complaint

Conventional fixed mortgage Loan servicing, payments, escrow account

Loan Care Mortgage department,

Conventional fixed mortgage Loan servicing, payments, escrow account Maryland

My loan was held by -. I requested a recasting of the mortgage in early - and sent them a check for $170000.00. I was informed my loan was sold to LoanCare effective -/-/- and they returned my check. I contacted LoanCare - to request instructions for recasting and to whom I should send my check. After six days they did not respond. I contacted them again and was told they would email me instructions. Another week passed and I heard nothing. Finally they did respond and told me it would take 10 to 20 business days to get an answer. I had to involve my original loan company - to intervene and find someone at LoanCare to assist me because I was frustrated. We have been waiting for almost two months to send LoanCare a check for $170000.00 and I can not get anyone to respond to me. Additionally I am losing valuable interest on the money I would be saving. I finally received a letter stating I should send my money to them and they would recast my mortgage and have it effective -/-/-. That is an unacceptable amount of time to wait to lower my monthly payments.

Loan Care customer in Maryland
Feb 06, 2017

* Source: CFPB Complaint Database

Loan Care response to complaint:
Closed with explanation

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