Consumer complaint received 2016-03-07
Company: Reverse Mortgage Solutions, Inc.
State: PR
Product: Mortgage
Sub-product: Reverse mortgage
Issue: Loan servicing, payments, escrow account

Complaint:
During the last 5 years, XXXX has had her reverse mortgage loan through Reverse Mortgage Solutions Inc. ( RMS ) In XXXX, while in XXXX, she was behind on certain payments. This causes RMS to notify her of her non-compliance and establish that if she did not emit these payments, she would be in default and her property would be foreclosed. XX/XX/XXXX, XXXX contacted XXXX XXXX by phone, a representative of RMS. During their phone call, an agreement was reached to make 60 consecutive monthly payments for the amount of {$62.00} for a total of {$3700.00}. Another requirement of the agreement was to send a printed and signed copy of her contract, which XXXX did as agreed. On XXXX XXXX, XXXX, X received a letter confirming the payment agreement to pay the charges on the property that include property taxes and insurance premiums relating to risk and/or flooding. In addition, the communication establishes that the first payment must be received on XXXX XXXX, XXXX. XXXX was indicated that she would receive a separate envelope, which would contain the payment coupons. This envelope was never received. Finally, when the coupons do arrive upon a second mailing, XXXX sends checks to cover the months of XX/XX/XXXX and XX/XX/XXXX. Both checks were cashed for the amount of {$62.00} each. On XXXX XXXX, check # XXXX was sent also for the amount of {$62.00}. This check however was not cashed and when XXXX calls to verify the status of the check, she is informed that the company 's offices had been changed from XXXX Texas to XXXX Texas with no prior indication and to please send any payment or communication to the new address. In addition, she was told to send a check in lieu of check # XXXX for the month that had not been charged and another for the corresponding payment. Both checks were sent on XXXX/XXXX/XXXX. On XXXX/XXXX/XXXX, XXXX receives a letter by mail on behalf of RMS indicating that she is required to pay the total of her mortgage loan due to lack of payment. Having emitted the corresponding payments, XXXX attempts to contact RMS to clarify any information that may have been the reason for this communication. Unfortunately she was unable to do so at the telephones she was indicated. On Monday, XXXX XXXX, XXXX, XXXX receives a letter from RMS dated XXXX XXXX, XXXX. The letter indicated that the checks # XXXX and # XXXX, both for the amount of {$62.00}, were being returned because the loan had been foreclosed and the payment in full had to be sent. On the morning of Tuesday, XXXX XXXX, XXXX called XXXX. A representative by the name of XXXX took her call and they received assistance from an interpreter by the name of XXXX. XXXX later asked to be connected to a supervisor and her call was transferred to XXXX XXXX XXXX, for additional assistance. XXXX XXXX indicated that she should call him at XXXX, ext. XXXX, on the following morning. XXXX attempted to contact XXXX XXXX at the telephone provided on the morning of Wednesday XXXX XXXX, but was unable to contact him. Upon seeing this phone number was not functioning and she was unable to contact XXXX XXXX as agreed, XXXX proceeded to call XXXX. At this number, XXXX XXXX takes her call that transfers her call to a representative by the name of XXXX who later transferred her call to XXXX XXXX XXXX. During the phone call, XXXX XXXX indicates that there is nothing that can be done for XXXX case and that she should proceed to gather her belongings and leave the house clean of any possession. The only option offered was to pay in full the {$3600.00} or her loan would be foreclosed. She was also indicated that a new appraisal of the property was required, to which XXXX also indicates that she was never told the value of her property after the last appraisal. Throughout these events, the emergency/secondary contact was n't contacted. There is more but I have no more space left.

Company response to consumer: Closed with explanation