Consumer complaint received 2020-05-23
Product: Mortgage — Reverse mortgage
Issue: Struggling to pay mortgage — 
Company: Reverse Mortgage Solutions, Inc. (CA)

XX/XX/2020 THIS IS A CASE OF SWITCH THE PITCH, CONFUSE THE ISSUE, AND MIX-UP THE FACTS, DONE WITH IMPUNITY, ALL TO THE DETRIMENT OF UNDERWATER REVERSE MORTGAGE PROPERTY OWNERS, THE ELDERLY, THE UNEDUCATED, AND THE POOR ... 

Here 's what happened .... 

When my mother passed away, her Reverse Mortgage went into default. In XXXX of last year " Reverse Mortgage Solutions '' ( RMS ) began the foreclosure process. I am the executor of her estate. I listed mom 's home for sale with a Short Sale Realtor. In 2020 RMS approved a {$950000.00}. sales price deal and they postponed the foreclosure date. 

XXXX XXXX, 2020 - Reverse Mortgage Solutions ( RMS ) offered me {$7000.00}. as a moving incentive, independent of the Short Sale. 

XX/XX/2020 - RMS sent me a XXXX and RMS told me to notify them when I had vacated the property. 

XX/XX/2020 - RMS repeated this offer to me on my birthday XX/XX/XXXX. I accepted their offer and agreed to move out of mom 's residence by XX/XX/XXXX, before the inspection on XX/XX/XXXX, and Foreclosure Sale on XX/XX/XXXX. The deal was {$7000.00}. in return for an " unoccupied '' property by the Foreclosure Auction date. 

XX/XX/2020 - After 3 days notice ( XX/XX/XXXX to XXXX ) I vacated the property, with great inconvenience and expense. I even executed a Notarized Statement, after moving out, and subsequently I notified RMS of this. 

Relying on the RMS offer I was out within 3 days and I moved in such haste, all to my physical and financial detriment. After I complied, RMS postponed the Foreclosure date and they didn't send me the {$7000.00}. check, and now they have arbitrarily proposed different terms, in a condescending way, completely their agreement with me. 

XX/XX/2020 - In response to my inquiry about the {$7000.00}. RMS unilaterally proposes additional terms to our agreement. They state " if the property is auctioned at a foreclosure sale, property is vacant by XX/XX/2020 and is left in broom-swept condition, the {$7000.00} incentive would be paid in full. An inspection will be conducted on XX/XX/2020 to confirm the status of the property ... '' etc. etc. 

WHAT IS THIS DATE OF XX/XX/2020 FOR PROPERTY INSPECTION??? 

They stated " the incentive offer can not be extended further. If the current contract falls through or the property can not be vacated by XX/XX/2020, RMS can no longer extend the offer of a {$7000.00} incentive. '' This wasn't our agreement. I moved out per their offer. Now they change the date to XX/XX/XXXX, and they propose additional conditions, after we had an agreement, and I complied fully. 

" If the current contract ... '' There is no " current contract. '' This week my Realtor put together a Short Sale for {$950000.00}. and RMS " denied '' the approval, so there is no " current contract. '' Finally, the responsible party doesn't even sign with their own name, but with an impersonal " Regards, RMS Correspondence Department. '' For all I know, this email could have been written by a robot!!! 

XX/XX/2020 - a new entity, " Customer Service for MyRMLoan '' sends me the following communication : " Without any obligation, the investor of your mothers loan approved you to conduct a short sale of the subject property and offered you a relocation incentive of {$7000.00} on the express condition that the sale of the property closed and completed by a set date ... '' THIS WAS PART OF THE SALES LISTING AGREEMENT, WHICH BOTH THE BUYER AND RMS " INVESTOR '' AGREED TO. THIS IS SEPARATE FROM THE {$7000.00}. " MOVING INCENTIVE '' MADE DIRECTLY BETWEEN THE RMS " INVESTOR '' AND MYSELF. THIS SEPARATE AGREEMENT HAD NOTHING TO DO WITH THE SHORT SALE CLOSING OR NOT. 

" You were unable to sell the property by the set deadline date ... '' RMS SET THE DEADLINE DATE. IT WAS ARBITRARY, AND RMS REFUSED TO EXTEND BY ANOTHER WEEK A 30 DAY ESCROW, TO HELP THE BUYER SECURE FUNDING. 

" You have not sold the property, despite the investor giving you extended time and multiple opportunities. '' THE RECORD SHOWS THAT THE REALTOR HAD SEVERAL QUALIFIED OFFERS ON THE PROPERTY, DURING THIS TIME, BUT RMS HELD OUT FOR A HIGHER FIGURE. THEN CAME THE " CORONA VIRUS '' WITH ITS NEGATIVE AFFECT ON THE HOUSING MARKET. 

" Accordingly, you failed to meet the express condition for the relocation incentive ... '' THIS SEPARATE AGREEMENT HAD NOTHING TO DO WITH THE SHORT SALE. RMS WANTED THE HOUSE VACANT FOR A FORECLOSURE AUCTION WHICH RMS THEN POSTPONED. 

" In XX/XX/2020, after your failed attempts to sell the property over an extended period of time, the investor, again without any obligation, agreed to offer you the {$7000.00} as a relocation incentive on the express that you moved yourself and your belongings out of the residence and leave the property in broom swept condition ... 

THE " ATTEMPTS '' TO SELL THE PROPERTY WERE " SUCCESSFUL '', BUT NOT AT THE VALUE BASED ON PRE-CORONA-VIRUS MARKET DATA. RMS IS PUTTING ME IN A NEGATIVE LIGHT. THIS IS WRONG. 

I AGREED TO MOVE OUT. I MOVED BELONGINGS OUT. IT WAS A VERY RUSHED AND COMBERSOME MOVE ... NOW THIS NEW CONDITION, I.E. TO LEAVE THE PROPERTY IN BROOM SWEPT CONDITION. I DIDN'T AGREE TO THIS. AT THE TIME I WAS GIVEN ONLY 3 DAYS TO MOVE OUT, AND SWEEPING THE HOUSE WAS NOT PART OF THE AGREEMENT. RMS WANTED ME " TO VACATE '' AND PRONTO IN TIME FOR THE AUCTION ... 

" As of the date of this letter, RMS has confirmed there is are personals property ( i.e., furniture and belongings ) still inside the home, and there are other indicators showing the home is not vacant. Based on these facts the express conditions for the relocation incentive have not been met. '' I DISAGREE. THE HOUSE IS COMPLETELY VACANT. ASK THE NEIGHBORS. IF ANYTHING IS LEFT IN THE HOUSE, IT'S IN THE GARAGE, LEFT FOR THE FORECLOSURE BUYER. OR I CAN HAUL IT OFF MYSELF, BUT THIS IS NOT THE POINT. WE HAD AN AGREEMENT. I COMPLIED, AND RMS OWES ME {$7000.00}. 

" You are still able to qualify for and receive the {$7000.00} relocation incentive if you : ( 1 ) Completely remove all remaining personal property, from the home and off the entire property ; ( 2 ) Leave the property in broom swept condition ; ( 3 ) Sign any documentation required to complete the relocation incentive assistance. As before, all three conditions must be met to receive the relocation incentive. You must complete all three conditions by XX/XX/2020. 

JUST A MINUTE. WE HAD AN AGREEMENT. NOW RMS IS STATING THAT I CAN STILL QUALITY. I'M SORRY. I ALREADY COMPLIED WITH OUR ORIGINAL AGREEMENT. NOW I'M SUPPOSED TO SIGN DOCUMENTATION " REQUIRED TO COMPLETE THE RELOCATION INCENTIVE ASSISTANCE ... '' DOCUMENTATION??? THIS IS THE FIRST TIME I'M BEEN MADE AWARE OF IT. RMS DIDN'T DISCLOSE THIS TO ME UNTIL NOW. WHAT IS GOING ON? AS OF TODAY I HAVEN'T RECEIVED ANY DOCUMENTATION. RMS SHOULDN'T KEEP ME IN THE DARK. THIS IS NOT SUPPOSED TO BE PRESENTED TO ME AT THE LAST MINUTE. IF THERE IS DOCUMENTATION REQUIRED LET ME SEE IT. EMAIL ME AN ATTACHMENT. I DON'T WANT ANOTHER LAST MINUTE SURPRISE. 

RMS SHOULD SEND ME AN EMAIL ATTACHMENT OF THIS DOCUMENTATION. 

" Please Note : The investor is moving forward with foreclosure of the property. The investor will not extend the XX/XX/XXXX deadline for the relocation incentive, and the investor will not agree to any short sale. The investor is proceeding with foreclosure as noticed. 
Should you have questions, you may contact XXXX XXXX at XXXX XXXX XXXX XXXX. 

________________________ I noted the email came from " Customer Service '' not XXXX. If I had questions to contact XXXX at a phone number. I called the number, but it was the wrong number. 
Noting the number was a XXXX number, not XXXX, I called the correct number. 

After waiting, identifying myself, waiting some more, I was transferred to XXXX 's voice mail. I left my message and contact information. I never received a response. Is XXXX a robot??? 

Just to be sure, I wrote the following email ( below ) to XXXX with copies to the 4 RMS staff members : XX/XX/2020 - My Response to XXXX and the RMS Staff and Management, " I received your email. What documentation are you referring to? ( condition # 3 ). This is the first time I am hearing about this. 

Please send me whatever documentation I should complete. Thank you. 

NOW RMS MAKES THE FOLLOWING PROPOSAL TO ME ... 

XX/XX/2020 - " You are still able to qualify for and receive the {$7000.00} relocation incentive if you : ( 1 ) Completely remove all remaining personal property, from the home and off the entire property ; ( 2 ) Leave the property in broom swept condition ; ( 3 ) Sign any documentation required to complete the relocation incentive assistance. 

As before, all three conditions must be met to receive the relocation incentive. You must complete all three conditions by XX/XX/2020. '' THIS REQUIRED DOCUMENTATION IS NEWS TO ME. 

IF THIS WAS WHAT RMS WANTED, WHY DIDN'T THEY TELL ME THIS ORIGINALLY? 

RMS should issue me the {$7000.00}. check without delay. 

KINDLY HELP ME RESOLVE THIS ISSUE WITH RMS. THANK YOU.