Loancare????

MadScientist

I am wondering if anyone on here has their mortgage serviced by Loancare? They just picked up our mortgage so I checked out their reviews online. Yikes, it looks like they have really got some customers po'd.

Anyone here have a good relationship with Loancare? Set my mind at ease with some good news.

BTW- If you don't have a mortgage or don't have any debt, good for you. You are in an enviable position.

jad1097

Oh my they do look bad

http://www.yelp.com/biz/loancare-industry

http://www.complaintsboard.com/complaints/loancare-servicing-center-inc-virginia-beach-virginia-c330754.html

Turner River Terror

I'd start polishing up the AR..

stc1993

I've never heard of a company that bad. They ought to be something these people can do.

navigator2

MadScientist wrote: »

I am wondering if anyone on here has their mortgage serviced by Loancare? They just picked up our mortgage so I checked out their reviews online. Yikes, it looks like they have really got some customers po'd.

Anyone here have a good relationship with Loancare? Set my mind at ease with some good news.

BTW- If you don't have a mortgage or don't have any debt, good for you. You are in an enviable position.

These arsehats purchased my mortgage about 2 years ago. I haven't had any issues with them lately but I pay timely so there is nothing to deal with. They are slow to post payments unless you pay online however. I realized they were a bunch of jacklegs when at the end of the first few months they screwed up my escrow payment amounts. They jacked up my overall payment by about 300 bucks a month citing they were adjusting it solely due to escrow. Mind you, taxes had only gone up minimally and my homeowners insurance had actually gone down. I went round and round with their escrow department and raised holy hell with them but to no avail.

Well low and behold, the next time they did their analysis they lowered my payment by 300 bucks and also sent me a check for about $600. Idiots.:banghead

Heatwave

Looking at the complaints, they seem to be slowing down and maybe getting better. Gonna guess they were new, had a bad start, were not prepared, plus bad management and the learning experience fell on clients and a new management team, not past experience.
Just be ready for issues and many companies now at the BOARD LEVEL (wink wink) lose the payments in the mail on purpose, wink wink... you get a late notice ! Now your in the loser column... (the one where once your late, it kicks in extra charges... I know many don't think this type of white collar crime never occurs, and anyone wearing a suit and tie or goes to church would never cheat another human, but it does and one bad apple is all it takes to ruin 1000 credit reports.

How this ends - The next administration deregulates the housing market back to 2005 standards based on the riches thirst for more money. The reason they can put it back to old standards ? Because the banks have passed stressed test and the gov't has a better hold on freddie and fannie... At least this is what will be passed onto us... Look for the same runup as before and the same failure with scapes goats in place to take the fall and everyone at the top blaming the past people... Wash, rinse, repeat...