Frequently Asked Questions (FAQs)


Listed below are some important FAQs. Feel free to request an advocate if you have any questions that are not addressed below.

General Inquiries

Q1. I have been charged a fee that I do not understand; what can I do?
A1. You can view a description of fees by logging into your account. If you would like additional information about the fees listed on your account, please contact our customer service department.

Q2. My loan was paid off. Why was it not released?
A2. The release of your mortgage may take up to 90 days due to county recordation times and other factors. If the time frame has exceeded 90 days, please contact our customer service department for assistance.

Q3. My loan was recently transferred to LoanCare, but the transfer was delayed. I have missed a payment. What do I do now?
A3. Once your loan transfers to us, we will perform a verification process to ensure all information was transferred correctly. Any payments that were made to your previous servicer will be transferred to LoanCare and posted to your account. There are no late fees or credit reporting on your account for 60 days post transfer. If you would like to mail in a payment, we can accept it and will post it once your loan has been moved to our system. Please contact us if you are having difficulty with these options.


Q1. I received a welcome letter. What does the letter mean?
A1. Your loan servicer is requested to notify you in writing at least 15 days before the servicing of your loan is transferred to a new servicer. The letter includes the effective date of transfer, the date your current servicer will stop accepting payments and the date the new servicer will be accepting them; the name, address, and telephone number of new servicer; optional insurance information; and that the transfer of servicing does not affect any term or condition of your mortgage documents, other than the terms directly related to the servicing of your loan. Please note that on the effective date of transfer during this 60-day transition period, that payment will not be treated as late if you mistakenly sent it to the previous mortgage servicer instead of the new one.

Q2. I am having trouble understanding my monthly mortgage statement. Do you provide any assistance in understanding the statement?
A2. We have a monthly mortgage statement guide that should have been mailed with your first monthly mortgage statement. If you need any additional copies for reference, we have uploaded a PDF that is available to you once you log into your borrower portal. The PDF can be found on the website under the My Statements menu.

Q3. I received a late notice, but I made my payment. Why has it not posted?
A3. The first step is to verify with your local financial institution that the funds were available and deducted from your account. If this is the case, you will need to provide proof of the payment, such as a bank statement or a check showing the payment. Please remember to include your name and loan number when submitting proof. You may fax this to our customer service department.

Q4. I received a goodbye letter. What does the letter mean?
A4. A goodbye letter is a notification required by the Real Estate Settlement Procedures Act (RESPA) that advises borrowers that the servicing of their loan has transferred. The letter also provides important information, such as your new loan number, payment address and contact information for customer service.

Tax or Insurance Bills

Q1. I received a delinquent tax or insurance bill, but I have an escrow account. What should I do?
A1. Please send a copy of your delinquency notice to our Jacksonville office. You may fax it to our escrow department at 1.855.629.2607 or mail it to Attn: Escrow Department, P.O. Box 43070, Jacksonville, FL 32203. If you are unable to send a copy of the notice, please contact us.

Loss Mitigation

Q1. How do I know which loss mitigation solution is available to me?
A1. There are several factors that determine which options may be available to you. One of the first steps is to request help from us and provide us with your financial details. A loan counselor will review this information and will call you back to discuss your options.

Q2. How do I check the status of my loss mitigation request?
A2. You may call us for questions regarding the status of your request.

Q3. How do I submit a Mortgage Assistance Application?
A3. There are several ways to submit a package. You can fax it to 757-466-0384, email it to LC-LossMitigation@loancare.net, or mail it to Attn: Loss Mitigation Department, 3637 Sentara Way, Virginia Beach, VA 23452.

Q4. What is the time frame to get an answer on my Loss Mitigation request when submitting a Mortgage Assistance Application?
A4. Within 30 days of receipt of a complete Mortgage Assistance Application, we will let you know which foreclosure alternatives, if any, are available to you. We will then inform you of your next steps to accept our offer. However, if you submit your complete Mortgage Assistance Application less than 37 days prior to a scheduled foreclosure sale date, we will strive to process your request as quickly as possible. However, you may not receive a notice of incompleteness or a decision on your request prior to the sale. Please submit your Mortgage Assistance Application as soon as possible.

Q5. What documents do I need to submit for a loan modification?
A5. A list of required documents can be viewed by visiting www.MyLoanCare.com/HomeOwnerAssistance.htm.

Q6. I disagree with the decision made on my modification request; how do I request a review?
A6. A review of your loss mitigation decision can be requested by sending a written request to our loss mitigation appeals team. A separate group will review and respond to your concerns when completed.

Q7. What are my options if my modification request was denied and I cannot afford my payments?
A7. Transitioning into affordable housing with the help of a short sale can be an alternative to foreclosure. Even if you owe more than your home is worth, short selling your property may be an option. The first step is to contact an experienced realtor in order to list the property for sale. Second, submit a Mortgage Assistance Application along with the appropriate documents to us for a short sale review. An additional option is to request a deed-in-lieu or a mortgage release. Both options allow homeowners facing foreclosure opportunities to relieve themselves from the mortgage obligation.

Q8. What happens if I let my home go into foreclosure?
A8. Foreclosure processes are different in every state. If you are worried about making your mortgage payments, please review your state’s foreclosure laws and processes, and contact us directly to inquire about foreclosure prevention options that are available. If your income or expenses have changed so much that you are not able to continue paying your mortgage, and you have exhausted all other options, please understand that there are additional alternatives for help, such as a pre-foreclosure sale or deed-in-lieu of foreclosure. Click here to view the Federal Housing Administration’s Save Your Home: Tips to Avoid Foreclosure brochure.

Q9. What if my property is scheduled for a foreclosure sale date in the future?
A9. If you submit a complete Mortgage Assistance Application less than 37 calendar days before a scheduled foreclosure sale, there is no guarantee we can evaluate you for a foreclosure alternative in time to stop the foreclosure sale. If you are approved for a foreclosure alternative, please note that a court jurisdiction over the foreclosure proceeding or a public official charged with carrying out the sale, may not stop the scheduled foreclosure sale date.

Q10. Why did LoanCare inspect my home?
A10. If we have not received a mortgage payment in the last 30 days or if we cannot contact you about the resolution of mortgage loan delinquency, we will order a property inspection no later than 45 days after a missed mortgage payment. The inspection is to determine if the property is occupied or vacant, the condition of the property, if the property is listed for sale, if there is any waste, deterioration, or vandalism, if there is any deferred maintenance or if visible asset preservation is needed.

Notice of Error/Information Requests

Q1. How do I request information relating to the servicing of my mortgage loan?
A1. Please submit a written notice addressed to LoanCare’s mortgage resolution unit. Include your full name, loan number, and a statement of the information you are requesting regarding your mortgage loan account. Please note that only a written notice in this format is considered a request for information. Other means of contacting us, such as a notice on a payment coupon or a request for a payoff balance, are not considered requests for information.

Q2. What if I have a question or concern regarding specific errors?
A2. Please submit a written notice addressed to LoanCare’s mortgage resolution unit stating the specific error(s) that you believe to have occurred. Include your full name, loan number, and submit the written notice to the address found on the contact us page. Please note that a notice on a payment coupon or other payment form is not considered a notice of error.

Q3. How long will it be before I receive a response?
A3.For questions or concerns regarding something that you believe may be an error, LoanCare will acknowledge our receipt of your written notice (if received in the format stated in Question 1 in this section) within five business days after receipt. If your notice asserts a failure to provide an accurate payoff balance amount, we will respond no later than seven business days after receiving it .

For all other errors, you will receive a response no later than 30 days after we have received the notice of error. We will either correct the error and provide a written notification of the correction, or we will conduct an investigation and provide a written notification that no error occurred.