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I have a problem.. I refinance with Lend America and they NEVER paid-off CitiMortgage the company that hold my home deed. I received a call from the Escrow company dealing with Lend America and they told me to continue paying CitiMortgage. Now Lend America has sold the loan to Loan Care who is constantly calling me stating that I'm in default. I don't know what to do because Lend America never paid the balance yet my credit is now going to be messed up with this new loan company threatening me for payment that was never made. Can someone please direct me to someone who can help give me some advise on my situation?
Last edited by Green Irish Eyes; 02-19-2010 at 05:09 PM..
Reason: NOT a good idea to post your personal e-mail on an internet forum.
Lend America was based here on LI, the owner is a convicted felon & the company was shut down by the government a couple of months ago. Most of their loans were not in NYS, I guess you'd need to contact your state banking commision. Google Lend America & you may find useful info
Good luck!!
I have a problem.. I refinance with Lend America and they NEVER paid-off CitiMortgage the company that hold my home deed. I received a call from the Escrow company dealing with Lend America and they told me to continue paying Citi Mortgage. Now Lend America has sold the loan to Loan Care who is constantly calling me stating that I'm in default. I don't know what to do because Lend America never paid the balance yet my credit is now going to be messed up with this new loan company threatening me for payment that was never made. Can someone please direct me to someone who can help give me some advise on my situation?
It is unfortunate that so many people authorities on everything here but experts on nothing. When they do not know how a refinance works, including what went on with Lend America.
It is a strong probability - Lend America is not the cause of your problems. You need to contact your title company who did your closing.
When a person refinances - has their closing, and has three days before their loan funds. It is the responsibility of the title company to pay off previous mortgages and issue checks. It can be as simple of a wrong address or wrong loan number, why your original mortgage wasn't paid off.
Years ago I had this exact situation happen to one of my borrowers when I was a loan officer. We had to do a second closing.
If you need any help - send me a PM. I will explain further....
I have a problem.. I refinance with Lend America and they NEVER paid-off CitiMortgage the company that hold my home deed. I received a call from the Escrow company dealing with Lend America and they told me to continue paying CitiMortgage. Now Lend America has sold the loan to Loan Care who is constantly calling me stating that I'm in default. I don't know what to do because Lend America never paid the balance yet my credit is now going to be messed up with this new loan company threatening me for payment that was never made. Can someone please direct me to someone who can help give me some advise on my situation?
The same thing happen to me in August 2009. They never paid off my original mortgage. I had to catch up three months of payments with Bank of America. Now this company call Loan Care says I owe them for mortgage payments on a loan. I have an attorney but they do not respond to his letters. I think I may have to sue in order to clear my credit. Let me know how you are handling your situation. Bobby D.
Although it is true that in some cases it could have been a matter of a misunderstanding, but in this case, Lend America and its Attorney has done this to about 50 people throughout the country and are presently out of business.
Yeah, I remember reading about this - Lend America set things up with their title company, so I'd be surprised if there is a valid title insurance policy.
Yeah, I remember reading about this - Lend America set things up with their title company, so I'd be surprised if there is a valid title insurance policy.
Yes I heard also that they had their own settlement company owned by their lawyer. I would hate to be in his shoes right now!
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me too
