Consumer complaint received 2017-01-14
Product: Mortgage — Reverse mortgage
Issue: Application, originator, mortgage broker — 
Company: Reverse Mortgage Solutions, Inc. (MN)

My Mother n law at XXXX years old, Suffering from XXXX. She bought and lived in her house for XXXX yrs since XXXX. In XXXX XXXX she got got a phone call from XXXX Reverse Mortgage. Telling her that these are her golden years, she should be able to live life the way she wants with her equity from the house. She would remain the owner, payment free and stay in her home until she dies. She really did n't want to refinance again, had done it a few times before. As a single mother doing what she needed to do to pay her bills. XXXX Reverse Mortgage reassured her that she would have no payments, remain the owner and live in her house until she dies. Her son then could get the house. XXXX Reserve Mortgage LLC did a PHONE\MAIL.Loan. Signed a paper for closing cost. There was a 2nd closing close and adjusted fees. She had NO COUNSELING SESSION BEFORE OR DURING. She was charged {$120.00}, received no services. HUD Certificate of HECM Counseling no name, address, phone number or signature they say SEE COUNSELORS EXECUTED CERTIFICATE ON EVERY LINE. No SIGNATURE on HUD or XXXX Document and initials says N\A. Documents for her INITALS say N\A. The appraiser approved the house SHE WAS TOLD TO DO SOME REPAIRS.There were some BIG REPAIRS garage roof, double garage door, kitchen floor She was MAD HAD NO MONEY to do repairs. She asked about her EQUITY and there was XXXX REPAIR MONEY SET A SIDE. Could n't get the money until REPAIRS WERE DONE. Appraiser APPROVED THE HOUSE with MOLD/WATER DAMAGE in BASEMENT, MISSING PIPES, LEAKING PIPES AND WATER\BLACK MOLD UNDER KITCHEN SINK, CEILING LIGHT FIXTURE hanging BY WIRES, PORCH MISSING WINDOWS, BROKEN MAIN BEAMS LEAKING in between PORCH and HOUSE over OUTSIDE LIGHT FIXTURE. WOODEN FENCE UNSAFE FALLING OVER in many areas and more.No HUD INSPECTOR came to the house. Appraiser APPRAISED AT {$99000.00}. NO WAY this house is n't worth XXXX NEEDS TO MUCH REPAIRS due to all the water damage.XXXX Reverse Mortgage LLC, XXXX MI took over loan at XXXX after closing she owed XXXX. Different lenders or loan names in main documents XXXX Reverse Mortgage, XXXX XXXX C.A, XXXX systems XXXX MI. Also other names and addresses on paperwork are Reverse Mortgage Solutions or RMS XXXX XXXX Texas, XXXX XXXX Texas, XXXX XXXX Texas, XXXX TN, XXXX NC, XXXX Tx. Her other loan had escrow for property taxes and Insurance. Reverse Mortage was paying her Insurance Cost XXXX a year and they sent her notices which I found unopened about paying property taxes which they paid in XXXX and charged her for taxes. Property taxes RMS paid in XXXX too.The Isurance on the house was under the address and UTILITY INC OR INK REVERSE MORTGAGE SOL. ALSO NOW KNOWN AS XXXX XXXX Texas. XXXX She got FORCLOSER PAPERS. which STATED a different MORTGAGE COMPANY It was XXXX STATED RECORDING DONE ON XXXX XXXX NEVER HEARD OF THIS COMPANY. ON XXXX XXXX It was ASSIGNED TO REVERSE MORTGAGE SOLUTIONS INC. All the papers from XXXX - XXXX were from RMS. She OWNED HER HOUSE for 49 YEARS SINCE XXXX. Reverse Mortgage Solutions Inc, RMS, Utilty Ink Reverse Mortgage Sol, XXXX, XXXX which ARE ALL ONE WITH THE SAME PHONE NUMBER. Loan started at XXXX, Sheriff sale XXXX paper work says pay XXXX to buy house back. WHAT SHE WORKED VERY HARD FOR 49 years to have and give to her son when she dies. THEY FORCLOSED IN 4 YEARS!!! Now at XXXX years old she FACES FORCLOSED AND EVICTION. This house does need a lot of repairs BUT ... ITS HER HOME AND HER HOUSE!!!