Reverse Mortgage Solutions Mortgage Complaint

Reverse Mortgage Solutions Mortgage department,

Reverse mortgage Loan servicing, payments, escrow account Puerto Rico

During the last 5 years, - has had her reverse mortgage loan through Reverse Mortgage Solutions Inc. ( RMS ) In -, while in -, she was behind on certain payments. This causes RMS to notify her of her non-compliance and establish that if she did not emit these payments, she would be in default and her property would be foreclosed. -/-/-, - contacted - - by phone, a representative of RMS. During their phone call, an agreement was reached to make 60 consecutive monthly payments for the amount of $62.00 for a total of $3700.00. Another requirement of the agreement was to send a printed and signed copy of her contract, which - did as agreed. On - -, -, - received a letter confirming the payment agreement to pay the charges on the property that include property taxes and insurance premiums relating to risk and/or flooding. In addition, the communication establishes that the first payment must be received on - -, -. - was indicated that she would receive a separate envelope, which would contain the payment coupons. This envelope was never received. Finally, when the coupons do arrive upon a second mailing, - sends checks to cover


that the company 's offices had been changed from - Texas to - Texas with no prior indication and to please send any payment or communication to the new address. In addition, she was told to send a check in lieu of check # - for the month that had not been charged and another for the corresponding payment. Both checks were sent on -/-/-. On -/-/-, - receives a letter by mail on behalf of RMS indicating that she is required to pay the total of her mortgage loan due to lack of payment. Having emitted the corresponding payments, - attempts to contact RMS to clarify any information that may have been the reason for this communication. Unfortunately she was unable to do so at the telephones she was indicated. On Monday, - -, -, - receives a letter from RMS dated - -, -. The letter indicated that the checks # - and # -, both for the amount of $62.00, were being returned because the loan had been foreclosed and the payment in full had to be sent. On the morning of Tuesday, - -, - called -. A representative by the name of - took her call and they received assistance from an interpreter by the name of -. - later asked to be connected to a supervisor and her call was transferred to - - -, for additional assistance. - - indicated that she should call him at -, ext. -, on the following morning. - attempted to contact - - at the telephone provided on the morning of Wednesday - -, but was unable to contact him. Upon seeing this phone number was not functioning and she was unable to contact - - as agreed, - proceeded to call -. At this number, - - takes her call that transfers her call to a representative by the name of - who later transferred her call to - - -. During the phone call, - - indicates that there is nothing that can be done for - case and that she should proceed to gather her belongings and leave the house clean of any possession. The only option offered was to pay in full the $3600.00 or her loan would be foreclosed. She was also indicated that a new appraisal of the property was required, to which - also indicates that she was never told the value of her property after the last appraisal. Throughout these events, the emergency/secondary contact was n't contacted. There is more but I have no more space left.