LoanCare

This company is atrocious at best. I had two accounts that I used to make my mortgage payments with. I chose one account, and a few weeks later, they called me and said I hadn't made a payment. We went back and forth, but after contacting my bank, etc., they figured out they withdrew the money from the wrong account. They told me I would have to send in a letter to dispute the late payment, so I did, and after several weeks, they have said the error was not on them. My mortgage was sold off to this mortgage company, and therefore I didn't have any choice in this matter. It took several phone calls and a week just to get my payoff and daily interest from them in order to sell my home. If I could, I would give them a -5-star review. I am filing complaints with the BBB and Consumer Financial Protection Bureau. Pure rubbish!

Not going to go into the full story, but these guys are crooked and awful. Seems like just about EVERYONE has experienced the same terrible experience. Wish I could have stayed with United Wholesale Mortgage instead, but sadly we don't get a choice when our mortgage is sold to another garbage company.

I too was transferred to Loancare, and I am NOT happy! Due to layoffs in my industry, twice in a 12-month period, unfortunately, I fell behind on my mortgage payments. I stayed in touch, and on multiple occasions, I spoke with the loss mitigation team. We were able to successfully move the mortgage into a new program. My mortgage payments were adjusted, documents were exchanged in a timely manner, and a new agreement and payment amount was established in April of 2025.

I started my payments on time according to the newly approved plan.

Shortly after the documents were signed, sealed, and delivered, I received another notification from Loancare stating there was an escrow deficit and my payments would be increasing by almost $500.00 a month! I was mortified and could not understand how this oversight was made, yet I continued with making the new payment escrow amount.

My first payment on the new plan was made according to the newly established escrow notification documents.

Payment 1 down. For payment 2, I logged in to make my payment, and I showed a credit between the new amount of escrow notification and the newly approved mortgage amount.

Naturally, I paid the difference from the credit to the total amount of the original notice. Days later, I received a letter stating I was behind for the month of August and, of course, the newly established escrow amount for September. It couldn't be more confusing!

I called the customer service team to try to get some clarification, thinking the app was not updated. In speaking with the rep, who was very nice, I learned that the payment amount I should be making was correct based on the agreement. I also noted on the bill that the payment I made was not applied to the August payment!

I asked exactly how much I owed to date and was given yet another amount. I then asked where my credit was and was shocked to be told that because the "credit" was on my account 15 days prior to the payment due date, the credit amount was placed toward arrears! What arrears? I just refinanced the mortgage and signed documents with a new payment amount?

I was then told that my payments were on a "trial period" and that I would receive additional documentation sometime in the future for a new amount.

I'm confused, frustrated, and just in disbelief that this company is allowed to continue in business this way! This is predatory lending at its worst! The customer service team is terrible, information is inconsistent, and communication is horrendous. We are talking about people's homes and finances with approved and agreed-upon documentation. Why is this behavior from a lending/mortgage service company allowed to continue?

Terrible customer service. It's impossible to speak to the people who make decisions. Terrible management of money. I had damages from the hurricane, and they make it almost impossible to get your house finished unless you provide huge amounts of money on your own. You can't get it finished with their impossible demands.

Same bank account information since I started the loan in 2016, and now a payment was reversed out of my account because they couldn't locate the account. I made a one-time payment online using the same bank account information and it went through, yet they are telling me the payment method changed for auto-pay. I asked what changed and the very unpleasant woman said she didn't know what had changed. Horrible, horrible, horrible.

This company is absolutely the worst. I am frustrated that my loan was transferred to them. I entered into a repayment agreement for one month while facing hardship and set up automatic drafts as agreed. However, my escrow payment increased significantly, which raised my monthly payment. Instead of notifying me about this change, I received missed payment notices because my prearranged auto-drafts, which I was explicitly told I couldn't cancel once scheduled, were no longer sufficient to cover the new amount.

This led to late fees being added every month without any communication from them. When I contacted the company, the automated system stated I was only $78.35 delinquent, but online it showed I was a full month behind on my mortgage. Every representative I spoke with gave me a different past due amount, and I couldn't understand where any of them were getting their numbers from. It's frustrating beyond belief.

Additionally, the escrow minimum requirement is a joke, and the way they apply the escrow portion of each mortgage payment is inconsistent and confusing.

This company is a complete disaster and honestly shouldn't be in business. I've even started recording every conversation with their representatives because the information they provide is so inconsistent and unreliable. If you do not have to use them, don't.

Worst Company ever! They have had $70,000 of my insurance money since February 5, 2025, and would not release any. I was told that I had to pay out of pocket 25-40% to fix my home after Hurricane Helene. Who has that kind of money after losing their home and everything, then having to pay rent? I complained and complained and got nowhere. I had to borrow money from my family while having to pay rent on top of my mortgages. The home was inspected by LoanCare, and it stated 60% completed. After weeks of complaining that I needed funds to fix my home, so I did not have to pay rent any longer, and that this process was severely affecting my health (I have cancer), I was told on Monday, March 31, 2025, they were finally going to send me $48,784.05. But when I received my check on Friday, April 4, 2025, it was only $7,320.14. I was furious and had already submitted over $23,000 in paid invoices and receipts. I will continue to reach out to the Attorney General, LoanCare, Mission Servicing, Wright Flood, 8 on Your Side, and any other person I hope will help me with this.

P.S. I also lost my home to Hurricane Idalia and had no issues with getting funds to fix my home until my NRL mortgage was sold to Mission Servicing/LoanCare. Losing your home twice in a year and being sick is the worst thing that has ever happened to me. I just want to go home!

The Absolute Worst Mortgage Company - Ever! Horrific customer service, and this business increased my mortgage payment even though I have enough money in my escrow account! I have spent numerous hours trying to get this fixed. BBB contacted! The next step is a lawsuit!

Absolutely horrible. They took over my mortgage on March 3, 2025, and just like all the other reviews, we also experienced rude, ignorant customer service representatives and supervisors. They wouldn't let me speak, left me on hold for 30 minutes and just wanted to argue the whole time. Can't imagine what is to come. Wish we could give a zero.

So my mortgage was sold to this company, LoanCare. They sent a letter stating that my mortgage is due on the 1st, but this month (March) it was due on the 13th. I registered online for an account and the website states that my mortgage payment was due on the first. So I go ahead and pay it. A few days later, they take out another payment on top of the one I had already made. I contacted customer service via phone and they said I could send in screenshots of my bank account to prove I paid more than once and I would get a refund. However, they told me I had to send in the picture via email. The company then tells me via email that I need a positive balance before I can claim a refund, which they did not tell me over the phone. And also I cannot send in screenshots it has to be a bank statement via PDF file. My next payment isn't due for another 2 weeks, so an overdraft fee will occur, which they will not be covering. So I have to wait inconveniently to get this said refund. And I have to wait a whole month to get my full statement in a pdf file provided by the bank. Terrible company!

The employees must all eat nasty pills before arriving to work at Loancare. It is evident in their attitudes towards "CUSTOMERS". But when we don't have the option to choose our loan servicer, I guess Loancare can provide pitiful customer service and be proud of it. Very, very unfortunate.

This company is horrible. They took over my loan from a previous lender. I was entering into a loss mitigation plan with the former vendor as I had lost my job due to an injury. I have completed the plan and am waiting for a package to sign and notarize. I received a letter on February 15 stating the package would be sent to me within 15 days. This letter was dated January 29. I have now received a letter dated February 17 for a different option, along with a notice of default dated February 19, on my mortgage for the overdue payments. Did I mention I called this past Monday Mar 24 inquiring about the package and was told it was being processed? Needless to say I have not received any package. Once again, this company is horrible! I’ve read several reviews where this is a recurring issue with this company in order to take advantage of borrowers. This has been a nightmare on top of my health issues which landed me in this situation to begin with. Stay away from this company if you can. Obviously, if our loans are sold to them, there’s not much we can do, but these guys are not to be trusted.

I had a mortgage through Loancare from 2015. During the pandemic, I took forbearance from June 2020 to July 2021. My understanding from the original paperwork and speaking to customer service was that I could resume my original payments without penalty. I also understood that I would have to pay the missed interest, loan, and escrow. I restarted my payments and then spoke with a representative from Loancare in Virginia regarding possibly refinancing for a better interest rate. I had also asked about the cancellation of PMI as I had reached the 20% mark per FHA requirement. I was told that I had an outstanding escrow owed of $9,600 which would have to be paid to bring everything current. I paid the amount in cash. The total loan at this point was $268,000. I then received a letter from Loancare threatening foreclosure if I did not pay all the missed payments which they stated was $42,000. I called to question this and was told I had no other option or I would lose my house. I questioned the amount as I had paid the escrow in cash. I was told I had no options but to pay. I was sent paperwork which I signed. It turns out they took a $42,000 home equity loan out. My loan appeared on the credit bureau showing I owed $300,000+. I received a quarterly statement showing they had applied approximately $26,000 to escrow, paid escrow, then sent me an $8,000 check for the overage. They did not make any payment to the mortgage or interest. I eventually sold the house in August 2022. At closing, I had to pay for a second mortgage to a lienholder for $42,000. Again, the only payment to the mortgage loan were the ones I made. The paperwork they sent for tax and the quarterly statements do not add up. I am asking for a complete copy of all paperwork from Loancare. They are involved in a class-action lawsuit in New York for threatening foreclosure during forbearance. I am gathering my information to take to lawyers in Houston. Does anyone have similar issues?

The worst mortgage company ever. This company does not respect consumer rights. Trying to contact them is an odyssey if you can manage it. The customer service representatives never know anything. They wrote my name incorrectly. They do not check the documents. They are not professionals.

The absolute worst people to have a mortgage through on planet Earth, the most underhanded, adding insult to injury, backstabbing, unhelpful schemers in the business. Run, do not get anything through these people, just run as fast as you can. If you'll consider these people, why not go through a bank instead?