Wells Fargo & Company Mortgage Complaint

Reverse mortgage Settlement process and costs

Wells Fargo & Company Mortgage department,

Reverse mortgage Settlement process and costs Arizona

My - yr old mother, who lived in a gated community in - was convinced to sign a reverse mortgage agreement with Wells Fargo Bank, in -/-/-. She had to be moved to assisted living late -/-/- & her house had to be sold, which it was, 7 year / 3 months later ( -/-/- ). She received $250.00 a month thru that time. That means that she received from Wells Fargo Reverse Mtg. $ - At the Closing, Wells Fargo Took $62000.00, Leaving my mother with next to nothing, on a house that was PAID OFF, previous to starting the reverse Mtg. That 's nearly triple payback of what they paid to my mother. She 's now nearly destitute - -Shamefull !!!

Wells Fargo & Company customer in Arizona
Nov 15, 2016

* Source: CFPB Complaint Database

Wells Fargo & Company response to complaint:
Closed with explanation

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