Reverse mortgage Loan modification,collection,foreclosure
CIT Bank National Association Mortgage department,
Reverse mortgage Loan modification,collection,foreclosure Florida
My mother passed away in 2014. We were told that she had a reverse mortgage through - -. I was in negotiations with - - in order to pay the loan off. I was told that I could pay $84000.00 through a refinance. At this time, I tried to reconcile this account, but could not due to the title being in my mother 's name. I had to take her estate through probate in order to clear title. I informed - - of this matter and was told that they would wait to re-order a BPO after everything cleared the probate court. As the Executor of my mother 's estate, I proceeded to start the refinance process. The representative from - - informed me that they must order an updated appraisal/BPO. I proceeded on my end to get approved for a loan and waited for the representative to order the appraisal/BPO. To my surprise, I was served with foreclosure papers last month. I could not believe that while I followed all instructions and stayed in touch with the loan servicer, I was blindsided with a foreclosure filing. I understand that - and CIT Bank are now one in the same, but I do not understand how CIT can not honor - arrangement. I was approved for the loan and was told that I MUST wait for their appraisal/BPO to proceed. I have done everything required of me and this is unfair and unjust to our family.
CIT Bank National Association customer in Florida
Apr 13, 2016
* Source: CFPB Complaint Database
CIT Bank National Association response to complaint:
Closed with explanation
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