Consumer complaint received 2016-10-28
Company: Reverse Mortgage Solutions, Inc.
State: VA
Product: Mortgage
Sub-product: Reverse mortgage
Issue: Loan modification,collection,foreclosure

Complaint:
My dad died on XXXX XXXX, 2016. I am executor of the estate and heir to the home. I contacted his loan servicer, Reverse Mortgage Solutions, Inc on XXXX XXXX and was told to submit the letter of intent, death certificate, and executor letter. I was also told I had six months to sell with up to two extensions of three months each. I submitted all paperwork to RMS on XXXX XXXX. I decided to sell the home as there is enough equity left to do so. At this point RMS was very kind and understanding and they made the process sound quite simple - as it should be. 

As I continued to keep in touch with RMS and do all the endless tasks of executor their tone changed. I was told early on that the house could go into foreclosure " any day ''. I received comments such as, " what took so long '' regarding my auctioning of my parents belongings and cleaning up the home. The call center at RMS seems to play a good cop/bad cop routine and sadly they never give a straight answer on anything whatsoever. 

RMS had the home appraised on XXXX XXXX, 2016. I sent a request for a copy of the appraisal in writing via email to RMS on XXXX XXXX, 2016 after speaking with XXXX, and I was told they 'd have a copy mailed to me within 24 hours. Request sent again on XXXX XXXX, 2016. XXXX XXXX, 2016 I spoke with XXXX at RMS again requesting the appraisal. XXXX XXXX, 2016 - spoke with XXXX at RMS still no appraisal. I finally received the appraisal on XXXX XXXX, 2016. That 's 61 days to receive paperwork that I was told would be sent in 24 hours! 

I signed a listing agreement on XXXX XXXX, 2016 and sent a copy to RMS via email. I spoke with XXXX that day to verbally update RMS. 

Friday, XXXX XXXX, 2016 I received a Notice of Trustee Sale on the property that is scheduled for XXXX XXXX, 2016. Reverse Mortgage Solutions foreclosed on the property 4 months and 21 days into my alleged six months. 

I feel that Reverse Mortgage Solutions has violated my rights. I have been given no clear answers as to why they are not honoring the six month time frame and not honoring an extension on that time. I have done everything " by the book '' and in a timely manner. As of this week ( XXXX XXXX, 2016 ) I 've had a potential buyer see the home twice only to become aware of the published trustee sale and run away. 

I spoke with XXXX at RMS twice about the issue and he claims to be baffled by the move and claims to understand my frustration but has offered nothing in the way of a solution other than to say, " you need to get more buyers '' - a seemingly impossible task with the threat of imminent foreclosure on the horizon. 

I can not see how Reverse Mortgage Solutions has any legal right to sabotage my opportunity to sell the property and satisfy the debt. The whole thing feels like a bait and switch. I worked hard all summer to get a 30 year-old neglected home back in shape. I invested my own money. I did all this in a timely manner only to have Reverse Mortgage Solutions , Inc essentially steal it away.

Company response to consumer: Closed with explanation