Reverse Mortgages: Big Potential, Small Results

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My Mother remarried a man who had a reverse mortgage. He passed away 4 years after they were married, Bank of America held the orig. reverse mortgage and it was sold to Champion. They are now trying to evict my 76 yr. old Mother who is in bad health,telling us that there is nothing they can do because she was not on the orig. loan or the deed to to house. How do we get help for her. She is on a fixed income and very scared right now. Please let you elderly loves one know all the loop hole before they consider taking out a reverse mortgage it is not all its cracked up to be.

sherry of GA 12:10PM March 04, 2013

the gov says fraud is against the law--whose law--fraud is okay if it has to do with reverse mortgage, even if it is against the law, where do you go to get something done about? they say it is against the aw for an agent to work with a lending co to get you into a RM and then put you into an annuity, why have this law, this happened to me, so what is anyone going to do about it, so far all the laws are for the criminals that I can see. After finding out what I had done, I emailed my killer and he said I DID NOT HAVE ONE THING TO DO WITH THE RM WHAT SO EVER. He was all verbal, talk to the end. But I see on contract Universal Lending Gave him a check for 1,235.00 to one of his other companies names he has, and there is a 5,000.00 fee on contract I don't understand. written under Universal Lending--Bank of America--now Champion Mortgage----very scared- now on internet terrifying reviews of Campion mortgage---do not get a reverse mortgage--if you do you will live in hell-can't sleep and can't breath--I thought I worked hard all my life--but to go on now--I should just kill myself--I know tat would make gov happy--and your kids--look what this does to your family---------where can a victim get real help--the gov says fraud is against the law--whose law--fraud is okay if it has to do with reverse mortgage, even if it is against the law, where do you go to get something done about? they say it is against the aw for an agent to work with a lending co to get you into a RM and then put you into an annuity, why have this law, this happened to me, so what is anyone going to do about it, so far all the laws are for the criminals that I can see. After finding out what I had done, I emailed my killer and he said I DID NOT HAVE ONE THING TO DO WITH THE RM WHAT SO EVER. He was all verbal, talk to the end. But I see on contract Universal Lending Gave him a check for 1,235.00 to one of his other companies names he has, and there is a 5,000.00 fee on contract I don't understand. written under Universal Lending--Bank of America--now Champion Mortgage----very scared- now on internet terrifying reviews of Campion mortgage---do not get a reverse mortgage--if you do you will live in hell-can't sleep and can't breath--I thought I worked hard all my life--but to go on now--I should just kill myself--I know tat would make gov happy--and your kids--look what this does to your family---------where can a victim get real help--not just send your complaint in =, to get filled
thanks for letting me complain, you can't even complain any more without joining a club like face book--there again not fair

Suzanne R Reeder of CO 2:14PM October 05, 2012

I was scammed into a reverse mortgage, I sent complaints into 6 government agencies--no one will help-they don't care if you gave them all the info to charge the ( ) with anything. The gov allows RM fraud- because they make billions in interest----adds up pretty fast when they are allowed to charge you compound interest- and the IRA gets your kids inheritance. Your house was paid for and now already my mortgage is 166,000.00. You don’t live in your house-you are now the care taker. I swear if they step one foot in my house I am going to kill these bastards. . Go get a license, they give them out like lottery tickets., half these ( ) don’t even bother with the license, the gov isn’t going to go after them anyway--there the gov army against the old. The only info on Internet from here there and anywhere is how not to get scammed. But if you did not get the memo, you are completely on your own. Forget getting a real estate lawyer-they hear Reverse Mortgage and hang up -seen a civil lawyer-they say forget it-thousands to even get started. That is why these scum from hell --can and will lie you into a RM ---now just die-that's where I am at--my life is a living hell-------don't for any reason get a RM--------they should be outlawed-we get this far into life to have everything go down the drain---any ideas to get helpful info---I can't find anything--for victims. The scammers don't move change phone, Internet adds etc The gov won’t do a thing---every one out there wants to stop Senior abuse-----isn't that nice---anything to get a pay check----------there all talk If there is a god he sure hates a lot of seniors--he put them in a RM

Suzanne of CO 1:35PM October 05, 2012

I tryed reverse mortgage on my home but it turned out that the appraiser undervalued my home and the percentage of money I would get was based on my wife's age and not mine. I would have ended up with less than 50% of the actual value of my home. I stopped the procedure after the lender refused to give me a copy of the appraisers report until I payed another $150.00, as of this date I haven't paid and will not.

Johnny of TX 12:38PM February 01, 2012