LoanCare

Loancare is the worst mortgage company in the world, bar none! Our loan was unexpectedly sold to them in October 2020, and it's been downhill ever since. First, customer service is terrible. You rarely ever get a live person on the phone. Using, or attempting to use the password reset feature on the website is a colossal waste of time! The app is useless. The refinancing process was a nightmare. I can't wait to refinance again and get away from these guys for good.

If you have a choice, please don't choose Loancare

Loancare has got to be the most incompetent company I have ever dealt with. They lose checks. They apply payments to the wrong month and then charge fees. Their website is always dysfunctional. I just spent 45 minutes on the phone with their tech support only to be put on hold and then passed off to someone new who had no idea what the issue was. Unbelievable.

Awful company. These caused a shortage and charged it to us. Would not help us bring mortgage current. Caused us to constantly show late.

Miserable company to do business with. My rental mortgage was sold to them and they claim my insurance policy lapsed. They give the correct date the policy was up for renewal, so they must have records showing I had insurance. Therefore they must know the insurance policy number and should be able to contact my insurance company and verify it is current, right? Wrong! I remember paying the insurance and so I called my insurance company who insists that I have insurance. They send over a proof of insurance to LoanCare, who probably doesn't have more than one human working there, so of course their system is set up to send out dunning notices, not accept correcting documents. And their one human, "Franseve", if that's what she is, is insolent and unprofessional and cannot help, even if she wanted to, which she doesn't. The rest of their system is entirely automated and doesn't allow me to talk to someone who can solve their problem. So I keep getting notices and voice messages saying they don't have any record of insurance for my property and they're going to charge me for their own insurance. Awful company ! I'd give zero, if I could.

This is 2nd part of this insane story and of this insane company. I had written back in May for information on removing my escrow and PMI. LTV was slightly over so denial received and rightfully so. Called again how much must I pay in order to reduce the LTV- amount paid. Called again since I received a letter that the LTV was not met?? No apology whatsoever. They made a mistake and would ensure all was settled but wait it would take another 15-20 days…. No accountability. Ask am I assured this will be taken care of by next months payment. Yes ma’am…. No letter or documentation received but checked online…. OK they have removed the taxes and insurance but not the PMI. Let’s give them time… received confirmation escrow removed since I met LTV. Maybe they are behind. Called yes ma’am that is under review. Review for what. You removed the escrow and one must be below LTV to qualify so I have been told. Ma’am I do not see an issue. However it may take an additional month. Received a letter today ‘you have met the LTV requirements to have the PMI cancelled based on the original value’ but wait…. Next paragraph….. ‘if you would like to pursue cancellation of PMI, an assessment is required that supports the LTV required’ - contradicting? I was never informed of this and how can they do one and not other? So now informed that a fee is still required, I pay the fee and confirmed by ‘Mr. Dante’ that the PMI will be removed by 10/1 -but the BPO hasnot yet been done? We are are now 3-4 mos after. Each time a different story. Everyone that I know will be informed not to use Newrez since they use loancare as their servicer. Horrible services. I will be seeking to refinance for sure! The cost and time this has taken I would have been better off pursuing a refinance initially and paying the cost! and ugh I cannot give you a zero for your poor services!

The WORST, yet I am forced to deal with them as my mortgage was shuffled and sold to third parties many times over. They claim to help, yet overcharged me THREE time for escrow and lied about mailing me back the overpayment (took 6mos to get that check to em)!

THEN, they advise to make extra payments to principal, yet do NOT APPLY it in a timely manner. I had sent them $6000 to go towards "principal only" over the last months and they only accepted ONE, while the others are "held in suspense"?!? When asked why it wa snot then resent to my bank...no answer --- they LIE AND CHEAT.

They also do not follow up with requests (like a payout letter). And after reading others here who did indeed pay off but never had the lien remove?...you can be sure that I'll be lawyering up.

AVOID if you can.

My home mortgage was sold to LoanCare. This is the worst company I have ever dealt with for any type of loan. It’s EXTREMELY HARD to reach a human and/or to get a straight and consistent answer to any question. My escrowed insurance wasn’t paid on time so I paid it late and then Loancare paid it a couple of weeks later than I did, even though I informed then I paid it and asked for a refund. Today I was told by Loancare to track down my own refund from the insurance company.

This company is absolutely awful. Unfortunately my loan was sold to them. It’s only been 3 months and it’s been nothing but headaches. On top of the awful customer service, I don’t have an option to pay online so every month I have to wait on hold for no less than an hour just to pay over the phone. I’m not one to write a review and normally keep to myself as I’ve always worked in the hospitality business but it’s just downright awful.

This company is absolutely the worst ever! I had a loan with them and when I paid the loan off they won’t release the lien. I have been fighting for 3 weeks now and it has been 7 months ago that I paid it off. I’ve heard every excuse out there! Customer service sucks they won’t let you get to the person in charge just a bunch of sorrys I am contacting the Ohio attorney general to go after them. Do not use this company. You’ll be sorry. Sue In Ohio