Consumer complaint received 2021-03-03
Product: Mortgage — Reverse mortgage
Issue: Struggling to pay mortgage — 
Company: Reverse Mortgage Solutions, Inc. (TX)

This a complaint I made to the Texas Attorney General. Please direct my complaint to the right department My wife and I took out a reverse mortgage with Reverse Mortgage Solutions , Inc. ( RMS ) in XXXX. Since my wife was the oldest, we put " only her name '' on the loan because it would allow us to borrow more money. We were always in compliance with paying the property taxes and home owners insurance before they were due. 

Then on XX/XX/XXXX, my wife passed away. It was always my understanding that as the surviving spouse ( a non-borrower ) that I would be able to live out the rest of my years here in my home as long as I kept paying the property taxes and homeowners insurance, which I have done without fault. 

However, in XX/XX/XXXX, RMS, Inc. sent me a letter stating they were foreclosing on my home due to the XXXX XXXX XXXX XXXX, who was the borrower. I was completely blindsided and overwhelmed by their decision. It seemed illegal and unfair. I became severely XXXX and lost all hope. I was convinced they would take my home, leaving me XXXX. 

Then, in XXXX of XXXX, I remembered something I had read about reverse mortgages. Upon the XXXX  of the borrowing spouse, the surviving spouse was considered a legal, non-borrowing spouse and could remain living in the home as long as the property taxes and home insurance continued to be paid. I contacted RMS, Inc. informing them of this new information. I told them it was my intent to remain living in my home and continue paying all property taxes and home owners insurance as I had been doing all the years prior. I sent them all the paperwork they said they required. The issue was resolved with RMS, Inc. and the foreclosure never occurred. 

Then, on XX/XX/XXXX, I received another letter from RMS, Inc. informing me a second time that they were going to foreclose on my home. In a phone conversation on XX/XX/XXXX, with an RMS, Inc. customer representative, I was verbally told that the decision to foreclose on my home had actually occurred sometime in XX/XX/XXXX. During our phone conversation the customer representative asked for additional paperwork, the exact same paperwork that I had sent them back in XXXX. RMS, Inc. claims that for whatever reason, they didn't have or couldn't find the documents I sent them in XXXX. I have complied and sent all the documents they are currently asking for. I am now waiting for them to review the reverse mortgage documents and have asked them to please make their decision regarding foreclosure by this coming Friday, XX/XX/XXXX. 

In conclusion, I have researched about reverse mortgages and the legal rights of non-borrowing spouses. All the information I have currently read tells me that I am well within my legal rights to remain in my home as long as I continue to pay the property taxes and home owners insurance. Furthermore, I have read multiple complaints that have been previously filed with the XXXX regarding RMS, Inc. and their bad business practices. They have preyed upon the elderly for years and have foreclosed on so many families. Please don't let me become another of their victims. 
Please describe your complaint in detail My wife and I took out a reverse mortgage with Reverse Mortgage Solutions , Inc. ( RMS ) in XXXX. Since my wife was the oldest, we put " only her name '' on the loan because it would allow us to borrow more money. We were always in compliance with paying the property taxes and home owners insurance before they were due. Then on XX/XX/XXXX, my wife passed away. It was always my understanding that as the surviving spouse ( a non-borrower ) that I would be able to live out the rest of my years here in my home as long as I kept paying the property taxes and homeowners insurance, which I have done without fault. However, in XX/XX/XXXX, RMS, Inc. sent me a letter stating they were foreclosing on my home due to the XXXX XXXX XXXX XXXX, who was the borrower. I was completely blindsided and overwhelmed by their decision. It seemed illegal and unfair. I became severely XXXX and lost all hope. I was convinced they would take my home, leaving me XXXX Then, in XXXX of XXXX, I remembered something I had read about reverse mortgages. Upon the XXXX XXXX XXXX XXXX XXXX, the surviving spouse was considered a legal, non-borrowing spouse and could remain living in the home as long as the property taxes and home insurance continued to be paid. I contacted RMS, Inc. informing them of this new information. I told them it was my intent to remain living in my home and continue paying all property taxes and home owners insurance as I had been doing all the years prior. I sent them all the paperwork they said they required. The issue was resolved with RMS, Inc. and the foreclosure never occurred. Then, on XX/XX/XXXX, I received another letter from RMS, Inc. informing me a second time that they were going to foreclose on my home. In a phone conversation on XX/XX/XXXX, with an RMS, Inc. customer representative, I was verbally told that the decision to foreclose on my home had actually occurred sometime in XX/XX/XXXX. During our phone conversation the customer representative asked for additional paperwork, the exact same paperwork that I had sent them back in XXXX. RMS, Inc. claims that for whatever reason, they didn't have or couldn't find the documents I sent them in XXXX. I have complied and sent all the documents they are currently asking for. I am now waiting for them to review the reverse mortgage documents and have asked them to please make their decision regarding foreclosure by this coming Friday, XX/XX/XXXX. In conclusion, I have researched about reverse mortgages and the legal rights of non-borrowing spouses. All the information I have currently read tells me that I am well within my legal rights to remain in my home as long as I continue to pay the property taxes and home owners insurance. Furthermore, I have read multiple complaints that have been previously filed with the XXXX regarding RMS, Inc. and their bad business practices. They have preyed upon the elderly for years and have foreclosed on so many families. Please don't let me become another of their victims. 

Have you complained to the business or individual? Yes If Yes, when? XX/XX/XXXX What was the business ' or the individual 's response? Saturday, XXXX XXXX, XXXX. Received letter from RMS stating I was in default for XXXX  and the loan was due and payable. I was overwhelmed again as in XXXX. I called RMS customer service asking why. The lady told me in XXXX with new M.0.E guidelines of XXXX I wasn't qualified for the Reverse Mortgage and was due and payable. XXXX XXXX, XXXX. I called RMS customer service asking what the reason was. The RMS letter said XXXX, but not a reason. The lady could not find out. and would try to find out and call me back probably XXXX XXXX, XXXX. I called again XXXX XXXX, XXXX talking to customer service. The lady still did not have an answer and told me My case was being reviewed by the legal team. I called again XXXX XXXX, XXXX asking customer service for answers and the lady still did not find out any. Would have an answer on Friday XXXX XXXX. What the reason is of XXXX being in default, if stays in default, or not in default. or need more information from me. She said they were doing everything to help me, but could not give any answers. That would come from the legal team. This is XXXX XXXX, and am waiting for Friday, XXXX XXXX, XXXX for the answers.