Loan Care — Loss mitigation
For a year now I have been trying to have my loan modified from 15 to a 30 year loan, in order to lower my monthly payments, all the while I was in forbearance. Phone calls and emails have had no result. After receiving my escrow statement in Nov., I sent a check for the full amount of taxes and insurance to the escrow dept. it has yet to be applied to my escrow account. At that time I also submitted paperwork to Loss Mitigation for a loan modification. In March I received a call that my loan had been approved and I would be contacted in 30 - 45 days. During this time I continued to call concerning escrow account. Each time I was told an audit would be performed on my account. When I finally spoke to a Loss Mitigation supervisor, I learned that my loan had not been approved for modification and I would have to submit new paperwork and reapply, which I did in April. My forebearence had expired, and I have now been making full payments for three months. During this time I have called every two weeks only to be promised that my requests would be expitied, and each time I learn that nothing has been expedited or audited. It is a do nothing company and my only option sees to be moving my mortgage from ARC Home Loans to another company.