Consumer complaint received 2019-09-10
Company: Peer Advisors, LLC
State: MI
Product: Mortgage
Sub-product: Reverse mortgage
Issue: Trouble during payment process

Complaint:
I am the executor of the estate of a woman who had a reverse mortgage. On her passing ( XX/XX/2019 ) I informed the company ( Clink ) in writing, that I was appointed a personal representative by the court and that we were selling the home and had sufficient funds to pay taxes and all obligations and that it would be sold within 6 months of her passing. This notification and request for extension was sent within the required timelines. 

There was never a default or late payment. Clink was sent the required information to request an extension and the information was sent to them both via certified mail and by fax on XX/XX/2019 ( well within the 30 day timeline from receiving the letter of intent ) We continued to follow up on it and they claimed it took a long time for our communication to be filed. We notified them of the Realtor name, licence and contact information as well and that we had a signed purchase agreement. 

Every time I called to inquire as to the status of the extension request I was told they were still processing it and couldn't find the information that authorized them to speak to me. 

The closing on the home is scheduled on XX/XX/XXXX and the title company requested the payoff information from Clink on XX/XX/XXXX at XXXX XXXX. As of today ( XX/XX/XXXX and 3 days prior to closing ) the payoff information has NOT been provided. 

I called Clink again today and was told that they put the property info foreclosure and sent the file to the attorney firm of XXXX XXXX XXXX. They never responded to our properly submitted request for an extension, nor did they provide this request for extension or any other communication we gave them to XXXX XXXX XXXX. Clink stated that it would take at least 10 business days to give us a payoff and that there would be fees and costs assessed as a result of them putting it into foreclosure. They admitted today, on a taped conversation ( with their consent ) that they misfiled our request for extension and never acted on it and never filed it with the information in the loan file. They continued to state that they would do nothing about it and that the home would stay in foreclosure and we would have to pay the additional costs and that they would not provide us a payoff amount and had not even started to process our XX/XX/XXXX written request for payoff This estate stands to have substantial damages if we can not close because of Clinks foreclosure and refusal to provide a payoff letter in a reasonable amount of time ( we provided them 11 days to provide the payoff information ) and they should not be allowed to charge the estate fees and costs related to foreclosure as we filed a request for extension well within the timeline and provided the documents required for this. 

Clink also admitted ( on the recorded phone call ) that they knew that delaying the closing would alloy them to collect more interest and fees and that the increased fees and delay it is a result of their error. They stated they would not fix any of their mistakes or credit any fees or costs. 

Documents as proof of these allegations will be provided upon request

Company response to consumer: Closed with explanation