chris adams

Review of MyLoanCare

i have never missed or been late on a payment afte...

i have never missed or been late on a payment after almost 4 years, have a ~25% LTV loan, high fico, and liquid assets well in excess of what is owed loan. Despite this, loancare has been a nightmare to deal with regarding some tornado damage to house. Loancare is still holding on to $20k+ of the insurance proceeds because they believe a dented aircondtioner condenser and a dented garage door are structural and need to be fixed before they give me the $20k. a) that is not structural b) they have receipts from companies that have inspected items to assure they are in working order c) if we were to fix the dents, cost would be nor more than 3k d) the door and condenser are not even visible from street thus probably not even a ding to house value e) the LTV with no house on the property is still about 50-60% ( because land worth so much ) I have sent letters and talked to customer service numerous times. While I think some of them appreciate my argument, they wont release the money. At this point, it seems like a financial game for them to hold the $ as long as possible to invest, etc.