Consumer complaint received 2023-05-24
Company: Peer Advisors, LLC
State: CA
Product: Mortgage
Sub-product: Reverse mortgage
Issue: Closing on a mortgage

Complaint:
My partner and I were enticed by the advertisement and the advantages that a reverse mortgage claimed to offer. They advertised that if we were married, my spouse would be put on the deed when he turned XXXX  years-old, and we could live in the home until our deaths, if we didnt sell it first. 

Two representatives explained the process of the reverse mortgage at our kitchen table, before my partner and I were married. He was not yet XXXX. One of the men, XXXX XXXX, a Mortgage Loan Originator from XXXX XXXX XXXX, XXXX XXXX, asked my partner, Are you XXXX? He said, No. XXXX XXXX added, Oh, if you were XXXX years-old, we could add your name to the mortgage today. But, since you arent, you have to wait until you are XXXX, and then call them and they will add you to the deed. ( XXXX XXXX also said that if my partner were XXXX, which he is not, they could also add his name to the deed. ) Before I signed the document, both men assured us again that my partners name would be added to the mortgage with mine. Just call them when he turns XXXX, XXXX repeated. I signed the papers. 

After we were married ( we had been in a civil union ) and several months before my partner turned XXXX, I mailed, emailed, and faxed all the required documents proving our marriage, which included the certificate of marriage, social security numbers, and completed their required forms. The company, XXXX XXXX XXXX XXXX XXXX XXXX, Fl. ) never acknowledged receipt of these documents, which were sent multiple times. Each time I called the mortgage company for an explanation, a different representative said, We never received the paper work. I continued to fax and mail the same forms, for more than a year. Finally, the representative said, We put your wife ( sic ) on a form, but not on the mortgage, so she still has to move out when you die. 

No one at the company every provided any paperwork, and continued to give misleading and conflicting answers until they sold the mortgage to Compu Link in XXXX, XXXX. 

When, I learned that my mortgage had been sold, I telephoned Comp Link and asked if my spouses name had been added. Two weeks later they said they had not received any documents from XXXX regarding our marriage, and asked that I send them the same documents that I had sent so many times before in this multi-year process. This time, I faxed all the required documents to XXXX XXXX, at XXXX XXXX XXXX XXXX XXXX, XXXX ( XXXX ). On XX/XX/XXXX, XXXX XXXX emailed the following : Good day, Per your recent inquiry, I have reviewed your documents and your account, unfortunately with HUD guidelines you would have to be married before the loan was originated. Your loan was taken out XX/XX/XXXX and your marriage certificate shows XX/XX/XXXX. You may try to refinance with a lender of your choice to add her on the loan. 

In short, despite so many efforts over so much time to achieve the singular goal of having my spouses name added to the mortgage, the company refuses to do so because of a six-day lag time! 

I am reaching out to you to help us immediately resolve this issue by having my married partners name added to the deed, as originally promised, before I pursue legal recourse. 

I look forward to hearing back from you soon.

Company response to consumer: Closed with explanation