Consumer complaint received 2023-02-26
Company: Finance of America Holdings LLC
State: IN
Product: Mortgage
Sub-product: Reverse mortgage
Issue: Trouble during payment process

Complaint:
The situation that started the default on our mortgage was with XXXX  who has filed bankruptcy ( but basically the same company ) that is now our lender. They apparently paid a year of hazard insurance on our home as we have a reverse mortgage. However there are certain requirements they must follow before they are allowed to purchase & charge me for the insurance & it is my belief they did not follow those regulations : According to 12 CFR 1024.37 ( b ), ( c ), ( d ) Servicers may not assess charges or fees for force-placed insurance unless the servicer satisfies four requirements. I am not going to type out each of those requirements because I am sure you are familiar with each of those. Now, I received only one notice stating that they may place insurance on our home and it stated that the cost may be {$600.00} ( not an estimate close to XXXX I will attach that letter. ) and it states it was the second and final letter? XXXX XXXX has claimed previously that they sent a letter, and she attached it when she answered a prior complaint, but I only received that when I asked for something in an e mail and it was sent after the fact ( XXXX XX/XX/XXXX ). 
After this event was when they started paying property taxes without any prior notice and early even though the statute says that we have up to the day of to pay our property taxes.24 CFR 206.205 ( 2 ) Payment of the following property charges are obligations of the borrower and shall be made through the XXXX XXXX by the borrower, or by the mortgagee, in accordance with paragraphs ( b ) through ( e ) of this section on or before the due date : property taxes, including any special assessments levied by local or State law, hazard insurance premiums, and applicable flood insurance premiums. 
It is my contention that Finance of America did not meet their requirements to assess charges for force placed insurance. 
.they are continuing to pay our property taxes in violation of these regulations. 
I also do not want anyone violating our privacy. XXXX XXXX claimed that nobody came to our door but I will provide a letter that proves otherwise. A very ridiculous letter claiming that because we did not provide an ID they had the right to come two weekends in a row to our door and charge us two weekends in a row for inspections which they did which is also illegal. We had sent in our occupancy certificate and in fact had it on the website for XXXX. I don't want to hear it was XXXX  and not them because they bought their loan and they are responsible. It is the same lender anyway... I know how that works. I will continue to investigate all of the things I have uncovered and not stop until it is all stopped after speaking to the ladies at the courthouse. There are over XXXX foreclosures this same attorney is working on with some of the same actors and situations in Indiana. I looked it up. Coincidences? I don't know. 
Like I have said before, they are going to fix the inflated balance of our loan. This never should have happened if they would have listened to me when all of this first happened and spoken to me instead of acting as if I did not know what I was talking about. I asked for balance information and proof of what they were claiming but they would not provide it. They could not even decide who had our loan. It was a real night mare speaking with their call center. XXXX XXXX also claimed that nobody came to our door but I will also include a letter that rebuts that claim. Those two inspections are illegal. I thought they were there to help us avoid foreclosure but not until this was filed in court did anyone ever mention any loss mitigation procedures. There are charges on the balance from the trustee and attorney but only being called attorney fees. I have also contacted the AG and HUD and a HUD counselor. This is going to be fixed. Yes, I missed some property tax payments but would have paid them before it got to this. It was during the pandemic and the county allowed extra time and the servicer did not have to do this. This was simply a way to make money... .that is my belief and it has about made two senior citizens lose their minds. The CFPB needs to address what all has happened. We are one of many. Finance of America did not meet the requirements to charge us for force placed hazard insurance and they are improperly paying our property taxes early after being asked time & time again to cease even though it is in direct violation of the regulations. They have changed our mailing of our tax bill so that we will not even receive it and the force placed insurance was the direct situation that caused this entire situation to begin with. XXXX XXXX has claimed there was nobody came to our door and this was not the only time. We have witnesses of other times also. The harassment has been never ending and the tax bill was more than XXXX could endure. The county employees knew he was hot and did not blame him one bit. They were quite empathetic and said it was a common problem around there.The final issue. On year to date for 2018 on our statement, it says we had an unscheduled loan advance of {$500.00} and we did not. The only thing we had was a LOC. Now, that better not be what I think it was because that means it was carried incorrectly for three years and I have not had time to go back and track it but please do so and I will as well. I have a feeling someone collected and charged interest on this and should not have. Geez.

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