LoanCareinsurance repair on house

D
This review was posted by
a verified customer
Verified customer
Review updated:

We have a mortgage with Freedom Mortgage but the Loancare handles the Insurance processing and loan servicing piece. We had an insurance claim for work on our roof and the current process now has the insurance check being sent to the mortgage servicing company and they disburse it out as the work is being done. Loancare has screw up this process every step of the way. Their negligence is potentially going to result in the contractor putting a lien on my house. First of all they lost the check and all my paperwork. Then when I would fax in documents they would continue to tell me they couldn't read this part or that name...which happened with every document. Then they promise to overnight the check to me because they had delayed the process a week by losing the check. When they did finally "say" they mailed out the check they didn't overnight it, but just dropped it in the mail. By this time it has been over a month since I sent them all of the paperwork and I have yet to see the first check to pay my contractor. They have purposefully delayed every step of the way on this process and I am beginning to wonder if they do not have some business to generate interest or other income off of people's insurance money so they WANTED to keep your money as long as possible.

Responses

  • Je
    Jessie105 Jul 10, 2019
    This comment was posted by
    a verified customer
    Verified customer

    Thanks for your reply. I am intending and working diligently to take them to court. I would rather shred the check than give it to them especially in light of what I have read and even before that when they screwed up my home owner's insurance. I went from paying $1000 to $2000 because of their screw up and I called them and have proof I did over forty times! I am a Paralegal who has worked with many attorneys and have put cases together myself. The buck stops with me. I am going to court and I will force them to sign the check over to me because of breach of contract with me. As my mortgage lender, they have failed! I even lodged a complaint with the Va Atty Gen. they were useless! But I am undeterred! My goal is a class action stay tuned! Thanks. I will be in touch if I get that atty so that all of you are included, provided you want to be.

    0 Votes
  • Lu
    Luckyin707 Aug 14, 2019

    @Jessie105 Hi, I’m in a similar boat. Lost house, insurance is paying more than balance I owe so I want to pay off and get out but they are stalling on money and are still expecting monthly payments. Please advise me on what to do [protected]

    0 Votes
  • Je
    Jeremyhall1996 Sep 17, 2018

    I had a house fire back in May of 2018 and I am still waiting for these sacks of [censored]ing [censored] to give me my funds back for the repair of my home. Every time i call these [censored] they tell me i need some document that I've turned in to them 6 times already!!! I am thinking about getting together with a few other people who are having the same issues as me and getting lawyers involved so that we can see the living hell out of this company!!

    1 Votes
  • We are having a similar problem with this piece of [censor] company called LOANcare. They have a separate insurance lain division that has their heads so far up there [censor] they can’t breath or see daylight. They have had our money for almost two months with no relief in sight. We have jumped through one hoop after another and yet they still keep throwing more obstacles our way. We are out of money to do further repairs and the repairs that have been completed the companies are pissed at us for not completing payment. This company sucks big balls and needs to have their [censor] sued so bad they have to close their doors. Run, run far and fast from LOANcare if this is your mortgage company. Worst run company in the history of the U.S.

    1 Votes
  • Wi
    WinnersWin Nov 05, 2018

    @Another Pissed off customer 202 I am having the same issue with LoanCare. How did you end up resolving?

    -1 Votes
  • Ma
    Mark Albers Nov 12, 2018
    This comment was posted by
    a verified customer
    Verified customer

    @WinnersWin Pease contact me my name is Mark Albers [protected]

    0 Votes
  • Je
    Jessie105 Jul 09, 2019
    This comment was posted by
    a verified customer
    Verified customer

    @Mark Albers DId you win against them? I have a check but refuse to submit the check to them from March 2019. They are awful and got my insurance on the house cancelled by not paying it and kept telling me they paid it. THereafter they placed Force-Placed Insurance on my home for almost $2500 plus dollars. I will not stop until I take them to court! I want them to sign check over to me and I will take care fo repairs!

    0 Votes
  • Kj
    kjballtulsa Jul 10, 2019

    @Jessie105 Do you know what kind of loan you have? Each loan type (FHA, VA, etc) has rules for how mortgage servicers handle loss drafts. If you know what kind of loan you have, you can pull up the handbook for that loan type. Google: FHA (or whatever type of mortgage you have) mortgage servicing handbook. Look for "loss draft" or "hazard insurance claims". There will be rules about how they are supposed to handle your money. Depending on the size of the check, they may have to monitor your repairs and thus hold the funds. It's a crappy process and it seems like they generally don't know what they are doing, but depending on the situation, there may not be another choice. Or you could refinance your house.

    -2 Votes

Post your comment

    By clicking Submit you are agreeing to the Complaints Board’s Terms and Conditions

    IN THE NEWS

    Unhappy consumers gather online at Complaintsboard.com and have already logged thousands of complaints.
    If you see dozens of complaints about a certain company on ComplaintsBoard, walk away.
    One of the largest consumer sites online. Posting here your concerns means good exposure for your issues.
    A consumer site aimed at exposing unethical companies and business practices.
    ComplaintsBoard is a good source for product and company gripes from especially dissatisfied people.
    You'll definitely get some directions on how customer service can best solve your problem.
    Do a little research on the seller. Visit consumer complaint websites like ComplaintsBoard.