Consumer complaint received 2020-02-24
Company: REVERSE MORTGAGE INVESTMENT TR
State: FL
Product: Mortgage
Sub-product: Reverse mortgage
Issue: Struggling to pay mortgage

Complaint:
My mom 's reverse mortgage company is threatening to foreclose on her house that I was awarded XX/XX/XXXX through probate. My mom passed XX/XX/XXXX. I have sold the house just waiting to close within the next 2-3 weeks. Below is the latest letter I sent Reverse Mortgage Funding. I have also reported them to HUD. Please help! 

This is what I sent the mortgage company Friday and their responses : Loan XXXX - Property XXXX XXXX XXXX XXXX, XXXX - ( HUD CASE XXXX ) XXXX XXXX / Sent XXXX XXXX XXXX To : XXXX, XXXX, XXXX, XXXX, answers@hud.com XX/XX/XXXX at XXXX XXXX As requested, please see attached sales contract for the subject property located at XXXX XXXX XXXX XXXX, XXXX, FL XXXX , that we are moving forward with. I am also including the DU approval for the buyers financing and an escrow letter from the title company to confirm proof of funds. The inspection of the property has been completed and the appraisal has also been ordered. 

Ms. XXXX, I shared this same information with you when we spoke over the phone on XX/XX/XXXX. I also explained that my mother passed in XX/XX/2019, I filed for Summary Administration shortly after in XX/XX/XXXX and was finally released of probate on XX/XX/XXXX. As you may be aware I was unable to list the property until probate was completed and unfortunately the process does take time. I believe that I have been very diligent in doing my part by expediting both the probate process and listing the property for sale. 

Dealing with Reverse Mortgage Funding has been extremely difficult due to their lack of instruction and ability to keep track of documents. During my initial conversations with them, they advised that I had a year to finalize any process with the property before commencing any foreclosure proceedings. Yet, they put the property in foreclosure no less than 6 months after the death of my mother. In addition, Reverse Mortgage Funding has incorrectly misrepresented where I am in the foreclosure process, where they stated that the foreclosure sale would be taking place within the next 30 calendar days ( Ms. XXXX stated there is no scheduled sale date ). It has taken many phone calls to obtain the correct information and their lack of follow-up and customer service is beyond the pale. I truly understand why they have 60 plus complaints filed with the CFPB. Their tactics are abusive and they only seek to take advantage of family members like myself after losing a loved one. I  feel like they are purposely giving me misleading information to prevent me from selling the property and inappropriately quoting HUD guidelines. 

I ask that you please suspend all foreclosure proceedings, as moving forward with a foreclosure while simultaneously working with a borrower to avoid foreclosure is restricted by the CFPB. Please also send me the breach letter issued and all acknowledgments sent after I advised I was in the process of selling the property. 

For your reference, I am including the Summary Administration, Probate final orders and Quit Claim Deed. This information has also been sent to HUD and the CFPB as a formal complaint against Reverse Mortgage Funding. 

Thank you, XXXX XXXX XXXX -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- They will only accept and approval letter from lender without restrictions to stop foreclosure. 

Response from mortgage company XXXX, Unfortunately what was sent was not acceptable and the postponement request was denied. If you are able to get the letter or a full approval with out conditions like we discussed before the request can be submitted again. Also I would need this today otherwise the denial will stand. 



Thank you! 

XXXX XXXX, Senior Associate Default Assistance Department XXXX

Company public response: Company has responded to the consumer and the CFPB and chooses not to provide a public response
Company response to consumer: Closed with explanation