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Loan Care or MyLoanCare / negligent company

1 Virginia Beach, VA, United States Review updated:
Contact information:

My mortgage was originally with my local first bank (For 13 years!) , and without any notice my loan was sold to a company called loan care. First bank explained that it was common for banks to sell "older" loans. Anyway, I was told that I still could make my payments to my local first bank and they would forward it to loan care. Cash payments were made and not credited to loan care. I have the receipts. First bank forward it to loancare and they are claiming to have never received it. I have called them multiple times and all the cust reps all tell me that they will find out what is going on, but after hours on the phone, they assure me that they will contact me back within 24hrs and they never do! I emailed them once more to find out why my 3k has not been credited to my account for the past 3mo along with demanding a 48hr response time limit. If I do not hear from them and get this issue resolved, i'm ready to talk to my lawyer and the news. Local hometown banks should not be able to sell loans to a company like loan care. I think loan care takes these loans knowing that the customer is not local and unable not to deal with them directly face to face. Please do not deal with loan care. If your loan is sold to them refinance with another company!

Jan 3, 2013
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  • Ep
      7th of Aug, 2013
    0 Votes

    Having a similar issue with loancare. Have you have this resolved? Please let me know what the outcome.

  • Ss
      26th of Sep, 2013
    0 Votes

    These days even if you refinance, there's no guarantee the 2nd company won't sell your loan to another crooked company. Even people complain some financiers are associated to big banks like wells fargo and such. So unless there's a change in rule by the government, there's nothing you can do. User's should be given an option whether their main financing company can sell the loan or not. But then again, it's not as simple as it sounds.

  • Ja
      4th of Jan, 2017
    0 Votes

    "called them multiple times and all the cust reps" You mean... There is actually people that answer the phones there? I waited on hold for as long as 93mins (latest record) as well, I've emailed and gotten zero response. See my posting. You are not alone in the struggle

  • Do
      2nd of Jun, 2017
    0 Votes

    I keep calling the number and it just goes into a perpetual silent hold. Not sure about their Customer Service.

  • Mi
      2nd of Apr, 2018
    0 Votes

    LoanCare, AKA MyLoanCare, is Associated with CIT Bank, which is Associated with One West Bank, which was the good old Fraud Bank called INDYMAC. The whole bunch are like Cockroaches. For some reason the CFPB and the Fed. does not want to do anything to this group of Fraudsters. OH Steven Mnuchin was at the top of the Cockroach Pile now is in the Administration. Fraud is their game!

  • Be
      11th of Jan, 2019
    0 Votes

    Loancare I don't recommend them, their customer service is awful. They want to charge you for everything they can think of. I formally had my loan with IndyMac Bank for 13 close to 14 years they sold my loan to Citi, then Loancare. Such a disappointment ever since.

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