Shannon Snider

Review of MyLoanCare

Mortgage sold to this company. Don't care for the ...

Mortgage sold to this company. Don't care for the exorbitant fees charged to make a phone payment, etc, but luckily it's within my budget to pay my bill early to avoid them. Pretty neutral experience until recently (1 year with Loancare) when I changed hazard insurance companies.

After receiving my refund from my old insurance, I needed to send it to Loancare and have it applied to my escrow account or I would have a shortage. Did so immediately, waited a week after my check cleared to give it a chance to be applied, and called for a new escrow analysis. Big surprise, it was applied incorrectly. 4 calls later over the course of a month and *apparently* it's fixed, but I'm leery of more issues, especially after I see these reviews. I had no idea it was so bad.

My experience is nowhere near as awful as some of the others here, but I'm refinancing my loan to not only take advantage of a lower rate, but to get a better mortgage servicer.