Consumer complaint received 2025-05-05 00:00:00
Product: Mortgage — Reverse mortgage
Issue: Trouble during payment process — Trying to communicate with the company to fix an issue while managing or servicing your loan
Company: Finance of America Holdings LLC
State: GA

Complaint narrative:
XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXXXXXX XXXX XXXX  Formal Complaint Against Finance of America XXXX XXXX  Petitioner is an heir and successor-in-interest to the property located at XXXX XXXX XXXX XXXXXXXX XXXX XXXX XXXX  XXXX which is currently the subject of an active foreclosure proceeding initiated by Respondent- Finance of American Reverse Mortgage. 


Petitioner has been actively engaged in resolving the outstanding mortgage debt, including securing emergency funding, attempting refinance, and requesting payoff quotes since XXXX all while navigating probate. 

See Timeline that was sent to Reverse Mortgage Company on XX/XX/XXXX when the first adjustment to interest and request to call off foreclosure was sent. 

XXXX XXXX XXXX  : Called after viewing the will for the first time and realizing first right of refusal but was denied any information regarding the loan. 

XX/XX/XXXX : Called and was told a copy of the trust, will, or probate order was required for authorization. 

XX/XX/XXXX : Called to verify receipt of the will and request payoff information but was denied access. 

XX/XX/XXXX : Emailed a copy of the will verifying my fathers first right of refusal. 

XX/XX/XXXX : Called to verify receipt of the email and was told to call back. 

XX/XX/XXXX - XX/XX/XXXX : Multiple follow-ups were made, all resulting in denied access despite submission of the necessary documents and a court order. 

XX/XX/XXXX Court-ordered mediation resulted in an order granting my father and me direct authorization to communicate with your company. 
XX/XX/XXXX Executor sent a third-party authorization for my father but omitted my name, despite the court order. 
XX/XX/XXXX Called and was told the authorization was received but not yet approved. Requested to speak with the legal department; was transferred, put on hold, and disconnected. 
XX/XX/XXXX Called back and spoke to XXXX, who said she would follow up after speaking to her supervisor XX/XX/XXXX Called again and was told authorization was still " processing. '' XX/XX/XXXX Called and was informed I still was not authorized to receive i information. 
XX/XX/XXXX Called and was told the court order was submitted but still processed. 
XX/XX/XXXX : Spoke to XXXX and formally requested the payoff amount. Told it would take XXXX business days. 
XX/XX/XXXX : Spoke to XXXX, who instructed me to submit a written request to backdate the interest XX/XX/XXXX : Finally received the payoff statement in excess of {$300000.00}. 


The payoff amount was not provided until XX/XX/XXXX, despite multiple requests dating back to XX/XX/XXXX. Within days of receiving the pay off, a foreclosure notice was sent for XXXX XXXX, a mere 46 days from receiving the payoff amount despite failed communication attempts from the Petitioner for over a year and the Reverse Mortgage being on notice of the death of the borrower and pending probate.

Petitioner has since made seven ( 7 ) written requests for foreclosure postponement and numerous phone calls since XX/XX/XXXX, all of which were denied or ignored by XXXX XXXX XXXX  XXXX XXXX, despite documented efforts to secure funding and close on the loan. 


Petitioner has now incurred over {$370000.00} in legal fees, loan interest, housing costs, and other financial harm in connection with Respondents aggressive and unyielding approach. 


Respondents refusal to cooperate in good faith has materially interfered with Petitioners ability to resolve the debt and constitutes bad faith, unfair debt collection, and a violation of principles of equity. 


The harm to Petitioner is irreparable, as the family home will be permanently lost in three days, absent IMMEDIATE court intervention.

Company response to consumer: Closed with explanation