Wells Fargo & Company Mortgage Complaint

Wells Fargo & Company Mortgage department,

Reverse mortgage Application, originator, mortgage broker Massachusetts

I am disputing - - explanation of the benefits of a Reverse Mortgage. She states that the loan served to pay off previous mortgages. The - document - is designed to be completed by the applicant with the LENDER 'S assistance. According to the document, the Mortgage Applied for was an FHA Traditional HECM. The FHA case -. - - states the loan payment plan as a " LINE OF CREDIT. '' The lender case -. - indicates that the purpose of the loan was for " ADDITIONAL INCOME. '' - - should be made aware that bringing $35000.00 asserts the opposite of any associated benefits of my reverse mortgage. If my intent was ADDITIONAL INCOME, then why would I be expected to bring - to the closing? Unless, the predatory lender told me that the money was to go into escrow to be used as a line of credit to be disbursed as needed for property taxes. I 'm being foreclosed on due to non-payment of property taxes. Where 's the $35000.00 line of credit that was supposed to ensure that I would n't lose my home. Obviously, it 's the reverse of the truth. Obviously it follows the same ongoing pattern of deception, coercion, and bullying an elderly woman into a mortgage that she did n't need and could n't afford. Wells Fargo made sure of my lack of ability to pay my taxes and insurance by illegally running a credit check and of course picking the bones dry by charging $14.00 to conduct that credit check..