Ditech sold loan to LoanCare

whiteface

LoanSafe Member
Jun 29, 2011
143
6
18
We got notice Ditech sold loan to LoanCare which has HORRIBLE reviews. Can anyone share their experience please? Ditech said in their letter if you have auto pay LoanCare will take over you don’t have to do anything. I’ve read differently to the point LoanCare placed a loan in foreclosure due to misapplied payments. I’ve been here since 2008, was a victim of BA/Countrywide/GreenTree. Luckily with the help here and my strong will I survived that nightmare and praying not to go through another nightmare with LoanCare. Thank you for your time
 

Jzone

LoanSafe Member
Jun 20, 2017
134
12
18
69
Was this a bankruptcy situation? Or a loan sold to a debt collector? I need a few more details before I can comment for you.
 

whiteface

LoanSafe Member
Jun 29, 2011
143
6
18
Was this a bankruptcy situation? Or a loan sold to a debt collector? I need a few more details before I can comment for you.
Ditech filed for reorg and sold off loans to Loan Safe LLC. This was not a bankruptcy and we were in excellent standing with Ditech. Thank you for your time
 

Jzone

LoanSafe Member
Jun 20, 2017
134
12
18
69
Sounds like just your servicing has changed to LoanCare? As long as you were current with Ditech, I doubt there will be a problem.

When mortgages are sold, transferred or assigned, they still must follow the original mortgage terms.