CIT Bank National Association Mortgage Complaint

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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