Consumer complaint received 2023-12-11
Product: Mortgage — Reverse mortgage
Issue: Trouble during payment process — Paying off the loan
Company: Finance of America Holdings LLC (NY)

My Aunt passed away and her " Will '' designated me as the " Executor '' of her Estate. While collecting my Aunt 's personal documents and daily mail, I discovered that she had acquired a " Reverse Mortgage Loan '' in the amount of approximately {$80000.00} dollars. A few months after my Aunt 's death, I called the " Reverse Mortgage '' company to iquire about paying off the loan my Aunt had received and informed the " Reverse Mortgage '' company that my Aunt 's " Will '' had designated me as the " Executor '' or her Estate, and that I was aware of her loan and that I wanted to payoff the loan in order to settle that aspect of her Estate. I also informed the " Finance of America Reverse , LLC, that my Aunt 's " Will '' was in the " Probate Court '' and that it would take an undetermined amount of time before I was officially recognized by the " Probate Court '' as the owner of the property. I informed " Finance of America Reverse , LLC, that I wanted to know if I could payoff her " Reverse Mortgage Loan '' and what the procedure would entail. " Finance of America Reverse , LLC, informed me that I should send them a copy of my Aunt 's Will, her " Death Certificate '' and a letter stating what my intentions were in regards to my Aunt 's Estate. " Finance of America Reverse , LLC, informed me that once I sent them the requested legal documents, they would recognize me as the reponsible party for the property, accept payment of my Aunt 's loan and put the " Deed '' to my Aunt 's property in my name. 
After I sent the documents that " Finance of America Reverse LLC, had requested, I no longer received any further correspondence from " Finance of America Reverse LLC, for approximately three months. When I obtained a lawyer, I had my lawyer contact " Finance of American Reverse LLC, and request a " Payoff Letter '' for my Aunt 's " Reverse Mortgage loan. '' When my lawyer received the " Payoff Letter '' from " Finance of America Reverse LLC, '' the amount of the loan had increased to " {$100000.00} dollars. I was directed by my attorney not to pay " Finance of America Reverse LLC, '' because they had intentionally misled me from the beginning by stating they would recognize me as the responsible party for my Aunt 's Estate, and that once I paid the loan they would put the " Deed '' for my Aunt 's Estate in my name. " Finance of America Reverse LLC, '' was well aware of the fact that I couldn't legally payoff my Aunt 's Reverse Mortgage loan until I was recognized as the " Executor '' of my Aunt 's Estate by the " Probate Court. '' And, that the loan would continue to accrue intrest until it was paid. When I refused to make any arrangements to pay my Aunt 's Reverse Mortgage Loan, " Finance of America Reverse LLC, '' initiated " Foreclosure '' proceedings against my Aunt 's Estate in an illegal attempt to gain control of my Aunt 's Estate and sell the property. It was my professional observation that " Finance of America Reverse LLC, intentionally misled me in a fraudulent manner and sought to obtain my Aunt 's property by filing " Foreclosure '' proceedings falsely stating that I had defaulted on the payment of my Aunt 's Reverse Mortgage Loan.