LoanCare Mortgage Payment Options

LoanCare Mortgage Payment

Update:LoanCare Mortgage Payment - 2021.05.03

LoanCare, LLC, has provided, since 1991, a wide array of full service and interim subservicing to the mortgage industry. Superior expertise and a focus on best practices have allowed the company to achieve optimized asset performance, ensuring that borrowers have the best possible experience.

It is important to keep your LoanCare mortgage loan payments prompt and punctual. Here is some vital information to do just that, to ensure your LoanCare mortgage bill payment is kept current.

These free online calculators will help you find out how much your monthly payment on LoanCare Mortgage will be:

Create LoanCare Mortgage Online Account to Make Your Payments

It only takes a few steps to simplify your LoanCare mortgage payments, by paying them online. Just head to myloancare.com and follow the steps:

  1. Click the “Create an Account” link found on the upper right side of the screen.
  2. Here is the information you’ll need to fill in:
  • Loan Number
  • User ID
  • First Name
  • Last Name
  • SSN/Tax ID
  • Email Address
  • Password
  1. Click “Continue.”

Once this is completed, you have access to all your information online. You can schedule a payment, make a payment, and more.

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Log in to Your LoanCare Online Account to Make LoanCare Payments

Now that your account is set up, it’s easy to manage your LoanCare payments:

  1. At myloancare.com click on the“Sign In” button.
  2. Enter the User ID you created
  3. Click “Next.”

From there, you will be prompted every step of the way to making your LoanCare payment.

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Download LoanCare Mobile App to Pay Your Mortgage Easily

You can also take care of your LoanCare mortgage bill wherever you happen to be, from your mobile phone or smart device. Simply download the LoanCare Mobile App. It’s free from the App Store or Google Play. Use the same login info you have previously set up on the website (ID and password). You can also log in using your loan number, just remember that leading zeros are not required. To make things even easier, make sure to tap the check box next to Save User ID.

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Other Options to Pay Your LoanCare Mortgage Bill

By Mail

You can always mail your LoanCare mortgage payment(s) to:
East:
P.O. Box 37628
Philadelphia, PA 19101-0628

West:
P.O. Box 60509
City of Industry, CA 91716-0509

Overnight:
3637 Sentara Way
Virginia Beach, VA 23452

By Phone

You can also make your LoanCare Mortgage payment by telephone. Contact your Single Point of Contact (SPOC) team at 1-800-909-9525

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LoanCare Questions and Answers

Why did my mortgage get transferred?

Servicing transfers occur frequently in mortgage banking. Your mortgage loan will remain unaffected (no terms or conditions change) except those terms directly related to servicing the loan.

How do I know which mortgage assistance option is available to me?

All the answers can be found on this Mortgage Assistance page. You’ll need to submit the required documents through the LoanCare customer portal. From there, you will receive an evaluation and recommendations by a representative, on what options are available to you.

I paid off my loan. Why do I receive a statement?

In the event you get a billing statement after your loan is fully re-paid, it is quite possible the statement was generated before your pay-off funds were received. You can compare the date on the first page of the billing statement to the date your pay-off payment was made, to confirm this. 

How do I reset my password?

Go to the homepage myloancare.com – you’ll need to have your loan number and social security number handy. Find the “Forgot your password?” link and click. You will receive an email with a new, temporary password. Log in with this password. A prompt will appear instructing you to change the temporary password. Create your new password. Confirm your new password by entering it again. Enter your Social Security number. Click Update.

How do I retrieve my user ID?

Be ready with your loan number and the last four digits of your social security number. On the home page, click the Forgot User ID link. You will be prompted to enter these. Click Submit. Your user ID will be sent to the email address associated with your account.

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LoanCare Customer Service 

LoanCare Customer Service Phone Number: 1-800-274-6600 

LoanCare Sales Support Email: [email protected]

LoanCare Headquarters:
LoanCare LLC, a ServiceLink Company
NMLS# 2916
3637 Sentara Way
Virginia Beach, VA 23452

Mortgage Assistance Department Address:
3637 Sentara Way
Virginia Beach, VA 23452

Mortgage Assistance Phone Number:  1-800-909-9525 

Loan Inquiries Address:
LoanCare
ATTN: Consumer Solutions Department
P.O. Box 8068
Virginia Beach, Virginia 23450

LoanCare Overnight Address:
LoanCare
3637 Sentara Way
Virginia Beach, VA 23452

For Notices of Error and Information Requests:
LoanCare
ATTN: Mortgage Resolution
P.O. Box 8068
Virginia Beach, Virginia 23450

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Facebook: https://www.facebook.com/loancareservicing/

Linkedin: https://www.linkedin.com/company/loancare/

Twitter: https://twitter.com/loancarellc

Youtube: https://www.youtube.com/channel/UCukwkykwr9wqb3a9yICRC0Q

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How to Avoid Late LoanCare Mortgage Payments

When you do get approved for a LoanCare mortgage loan, you’ll want to avoid any late payments. Here are a few tips that will help you steer clear of making untimely payments.

Sign Up for LoanCare Auto-Pay

Your first order of business is to set up an automatic payment option, and you can do this either through your bank or through your lender. You’ll want to go with the most ideal option for you.

Auto-Pay – the Pros

  1. You can avoid late payments and any resulting late fees. This will, in turn, ensure a healthy credit score.
  2. You can do your part to protect the environment with paperless billing.
  3. You won’t have to deal with any expenses relating to postage as you won’t need an envelope or a stamp, and you won’t have to fill out a check since auto-pay is done via electronic funds transfer.
  4. You will save time since auto-pay is convenient. No more will you have to take the time to sit down, write up a check, write your address and the address of the mortgage lender on the envelope, put on a stamp, and put the envelope in the mail. With auto-pay, you can automate the entire process of paying bills.

Auto-Pay – the Negatives

  1. You could, if you’re not monitoring the inflows and outflows of money in your bank account, overdraw your account. In order to avoid any problems, just keep track of how much you have in your account at all times.
  2. You could potentially overlook things like errors, interest rate hikes, or other hidden fees. This can be avoided by simply making it a habit to go over your bill.
  3. You could fail to stay on top of things such as the amount owing or the amount you’re paying monthly. As has been mentioned, you can steer clear of such problems by checking into your account regularly. This will help you to know when it might be a good idea to make additional payments to reduce the principal quicker.

Sign Up for Alerts and Reminders

Receiving a notification for an upcoming bill payment can make all the difference. You can get this by using an app, by getting your mortgage company to send an alert or reminder by email, or even by using Google calendar. You’ll be able to avoid late payments by doing so.

Set Up a Bill Pay Day

Another option is to purposefully schedule a period of the month when you can commit to making bill payments. When you go this route and have a system in place, you will avoid late payments.

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What to Do if I Made a Late LoanCare Mortgage Payment

It’s a good idea to avoid a late LoanCare Mortgage payment at all costs, but mistakes sometimes happen. While you don’t want to be too hard on yourself if this happens, you need to consider possible consequences. Case in point: you could see your credit score take a hit if you don’t make payments on schedule. Also keep in mind that a late LoanCare Mortgage payment may remain on your credit report for as many as seven years, which would adversely impact your credit score. What follows is a look at 3 proven strategies you can use to have late mortgage payment information scrubbed from your credit report.

Option #1: Contact LoanCare Mortgage and Make Request

Reach out to your lender by phone right away, and acknowledge that your payment was submitted past the deadline. It’s important to admit you were in error. Let them know when they can expect payment. They may be willing to delete your late payment data so that your creditworthiness doesn’t suffer.

Option #2: Write Them a Letter

The next option at your disposal is to write a letter, known as a goodwill letter, to LoanCare. In the letter, you’ll want to specifically and respectfully request a removal. Do these 2 things in the letter:

  • Demonstrate that you accept that the situation was caused by you.
  • Guarantee that there will be no repeat of the delinquent behavior going forward.

What follows is a sample letter template you can use as inspiration:

[Your first and last name] [your address] [your account number]

[date]

To Whom It May Concern:

I appreciate your taking the time to read my letter. The reason for this correspondence is that I found on my latest credit report a late payment listed on [date] for my [name of account] account. I’m aware of the importance of making timely payments and meeting my financial commitments. But due to [situation that led to the missed payment], I unintentionally missed the payment due date. Although I missed the deadline, I have since then taken measures to ensure this does not happen again. Specifically, I’ve [explain what has changed that will prevent any additional late payments]. Since my missed payment, I have had a flawless record of making payments on time.

One reason I’m making this request is that my intention is to apply for a [loan, credit card, etc], and I’ve come to understand that the missed payment reflected on my credit report could jeopardize my objective. Given the fact that my single late payment does not adequately reflect my creditworthiness and intention to abide by my financial obligations, I would be grateful if you would make a goodwill adjustment. This would delete my late payment on [date] and enable me to obtain a [loan, credit card, etc.) and to secure a better rate.

I appreciate your considering this matter, and I hope you will grant my request.

Best regards,

[your name]

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