Consumer complaint received 2026-01-06 00:00:00
Product: Mortgage — Reverse mortgage
Issue: Struggling to pay mortgage — Trying to communicate with the company to fix an issue related to modification, forbearance, short sale, deed-in-lieu, bankruptcy, or foreclosure
Company: Peer Advisors, LLC
State: CA

Complaint narrative:
URGENT!! A NOTICE OF INTENT TO FORECLOSE AND ACCELERATE MORTGAGE BALANCE WAS FILED ON XX/XX/XXXX WITH A 60 DAY DEADLINE. 
WE NEED THE HUD-APPROVED HEIR SHORT PAYOFF DEMAND LETTER IN THE NEGOTIATED AMOUNT OF {$400000.00} TO CLOSE/PAYOFF THE LOAN. 
XXXXHUD IS STALLING. 
PLEASE ASSIST. 

CFPB COMPLAINT SWORN STATEMENT Date : XX/XX/XXXX Company Complained About : XXXX XXXX XXXX XXXX XXXX XXXX XXXX Borrower : XXXX XXXX XXXX ( Deceased ) FHA Case Number : XXXX Property Address : XXXX XXXX XXXX XXXX XXXX XXXX, CA XXXX What Happened ( Sworn Statement ) I, XXXX XXXX XXXX , am the Heir and Authorized Representative and Successor-in-Interest to the borrower, XXXX XXXX XXXX ( deceased ), associated with FHA Case No. XXXX. I submit this statement under penalty of perjury as a true and accurate account of events. On XX/XX/XXXX, a HUD-required appraisal was completed for the subject property with an appraised value of {$420000.00}. On XX/XX/XXXX, the XXXX  servicer, XXXX XXXX  confirmed in writing a negotiated Heir Short Payoff amount of {$400000.00}, representing 95 % of the HUD-determined value and consistent with HUD heir payoff guidelines . At the servicers direction, I timely submitted a complete heir payoff package, including proof of authority, lender approval for the negotiated payoff amount, and all documentation requested. Receipt of the package and update of the servicing file were acknowledged by the servicer. Despite the confirmed payoff and complete submission, XXXX XXXX has failed for more than twelve ( 12 ) months to issue the required HUD-approved Short Payoff Demand Letter. During this period, the servicer has provided no written denial, no substantive explanation, and no valid justification for its failure to issue the payoff authorization. After more than one year of servicer inaction, XXXX XXXX asserted that the original appraisal had expired and demanded a new appraisal at my expense, despite the fact that : The payoff amount had already been negotiated and confirmed in writing ; Any appraisal expiration occurred solely due to servicer delay, not inaction by the heir ; and HUD servicing policy does not permit heirs to be financially penalized for servicer-caused delays. In reasonable reliance on the servicers written payoff confirmation, I invested personal funds into the property. The servicers subsequent refusal to issue the payoff letter constitutes detrimental reliance and has caused financial harm. A new lender has issued full loan approval, and escrow is prepared to close. The sole impediment to closing is the servicers failure to issue the HUD-approved Short Payoff Demand Letter. I have made repeated attempts to resolve this matter directly with the servicer and through HUDs designated intake channels. These efforts have resulted only in automated acknowledgments and no substantive resolution. As of XX/XX/XXXX, the servicers continued nonperformance is blocking a lawful closing, causing ongoing financial harm, and constitutes unreasonable delay and failure to comply with HUD servicing requirements applicable to XXXX loans and successors-in-interest. What I Want ( Relief Requested ) I respectfully request that the Consumer Financial Protection Bureau require XXXX XXXX to : Immediately issue the HUD-approved Heir Short Payoff Demand Letter reflecting the previously confirmed payoff amount of {$400000.00} ; Provide a written explanation for the prolonged delay and failure to act ; and Take corrective action to ensure heirs and successors-in-interest are not penalized for servicer-caused delays in the future. I affirm that the information provided herein is true and correct to the best of my knowledge. Respectfully submitted, XXXX XXXX XXXX Heir and Authorized Representative Successor-in-Interest to Borrower FHA Case No. XXXX Update as of XX/XX/XXXX : On XX/XX/XXXX I submitted a complete escalation package to HUD ( Executive Summary, Region IX escalation letter, and certified legal demand ) and filed a CFPB complaint regarding XXXX XXXX failure to issue a HUD-approved Heir Short Payoff Demand Letter at the previously confirmed negotiated payoff amount of {$400000.00} ( confirmed XX/XX/XXXX ). 

On XX/XX/XXXX, XXXX issued a Notice of Intent to Foreclose and Accelerate demanding funds by XX/XX/XXXX. XXXX subsequently confirmed in writing that the loan has not been referred to foreclosure counsel and will not be accelerated while HUD review is pending. 

On XX/XX/XXXX, XXXX issued a standard payoff statement reflecting the full loan balance payoff of {$470000.00} through XX/XX/XXXX, which does not resolve the pending request for the HUD-approved heir short payoff demand letter. 

XXXX now states a current appraisal is required to submit to HUD. I have a current HUD approved appraisal and am waiting for Compu-Link to confirm the maximum allowable age and whether the appraisal will be accepted to proceed with HUD submission .

The refinance is fully approved and escrow is ready. The servicers continued failure to issue the HUD-approved heir short payoff demand letter remains the sole barrier to closing and is causing ongoing harm. 

I request that CFPB require XXXX to ( 1 ) confirm appraisal requirements and accept an appraisal immediately, ( 2 ) submit to HUD without delay, and ( 3 ) issue the HUD-approved heir short payoff demand letter upon HUD approval, preserving the previously confirmed negotiated payoff amount of {$400000.00} for fairness/exception review due to servicer delay and detrimental reliance. 

Supporting documentation is available and will be uploaded immediately upon CFPB request.

Company response to consumer: Closed with explanation