| 10/27/2016 |
Yes |
- Mortgage
- Reverse mortgage
|
- Application, originator, mortgage broker
|
|
Web |
Older American |
|
I am a XXXX in XXXX who agreed to a XXXX with Live Well Financial XXXX. I wanted to let you know of the disappointing result of this agreement.
I am not accusing Live Well of intentional fraud or bad dealing, I am accusing them of incompetence that cost me {$12000.00}.
As with many homes in the XXXX XXXX XXXX XXXX, i am sitting on a gold mine of equity. I was going to sell my house so that I could have some liquid cash to pay debts, be relieved of a mortgage payment, fix the roof and furnace, and take a trip to XXXX with my son and other relatives.
I love my house, and really did not want to move to a retirement community condo, but I needed cash.
Live Well convinced me that I could get enough ready cash, and stay in my house. I spoke in depth with another company, too, and they also said I could get {$35000.00} at closing. I decided to go with Live Well, jumped through the hoops and was assured that all would be smooth sailing and the {$35000.00} would be direct deposited in a month.
Then there was a problem with the HUD appraiser. My land ( XXXX acre ) is valuable, but my small house would not cost all that much to rebuild. The lender was insisting that I needed far more home insurance that I have, so much that my insurance company refused to consider it as it would never pay out that much. FINALLY - belatedly I think - the HUD appraiser was challenged, and he said, " Oh, I reversed the numbers. '' This lasted about a month with constant insistence that they were right about the value of my house and I was wrong.
Finally, I was told that a notary would come to my house to sign the final papers. She came with a XXXX inch stack to be signed here, initialed there. It was late evening, but I did not want to delay any longer. I had taken a three week substitute teacher job for a friend with a health issue and was quite tired. I reached a page near the end of the stack that had the number {$22000.00}. I had never seen or heard it before. I asked the notary, but of course she had not idea. So I signed it.
I realize that I was stupid. I signed, and that 's that. However, those pages were filled with numbers I did n't know - closing costs, projections of the loan if I lived to be XXXX. I thought at that moment that this was just some other partial number.
Come to find out, that is the amount they would give me - no {$35000.00}.
First, if an estimate is given and the amount changes, it is up to the company to discuss this with the client. Perhaps I would have gone with another company - that was my right.
Sendly, papers of a finacial nature should not be signed with a notary who knows nothing aobut them, but with someone who can answer questions about the content! At the very least, the client should have the papers in advance so that a phone call could answer questions.
Thirdly, it was clear from the HUD appraiser snafu that the right hand in this company does not know what the left had is doing. No one had the total picture and people I spoke with were always confused about what I was saying, and that they would check on it.
Lastly, despite giving them a voided check, there was no direct deposit and there were more hoops before the money they were offering was deposited in my account.
I feel that in a way, it was a bait and switch. Not intentionally perhaps, but I thought I 'd have an extra {$12000.00} - not a small sum! It leaves me much more secure than I had intended.
I would like to formally file a complaint of incompetence on Live Well Financial so that no one else finds themselves in this position. They need to tighten ship.
|
| 07/01/2016 |
Yes |
- Mortgage
- Reverse mortgage
|
- Loan modification,collection,foreclosure
|
|
Web |
Older American |
|
I obtained a reverse mortgage from XXXX XXXX in XXXX XXXX.
The mortgage was assigned to Livewell Financial ( 'Livewell ' ). In XX/XX/XXXX, I entered into an agreement with the City of XXXX, PA to pay my real estate taxes in equal monthly payments in accordance with the City 's real estate installment payment plan available to senior citizens. After I had paid over {$1000.00} in real estate taxes in accordance with my agreement with the City, Livewell refused to recognize the validity of my agreement with the City of XXXX, paid the balance owed, and demanded that I reimburse Livewell or be declared in default. I reimbursed Livewell for the taxes for XX/XX/XXXX, but Livewell rejected my payment, and declared that I was in default of the terms of the mortgage agreement. In XXXX, real estate taxes are not due until XXXX XXXX of the year taxes are due.
If taxes are paid early, taxpayers receive a discount on the total due.
After rejecting my reimbursement of the taxes paid for XX/XX/XXXX, In XXXX XXXX, Livewell paid my real estate taxes, one month before the taxes were due, in order to take advantage of the discount offered by the City, then in XXXX XXXX Livewell filed a mortgage foreclosure action against me, claiming that Ihad defaulted under the terms of the mortgage.
Livewell repeated the same practice in XXXX - Livewell again paid the taxes one month in advance of the due date and again declared that I was in default under the terms of the mortgage. In an effort to avoid foreclosure, I obtained legal counsel and we have been attempting to work out a repayment plan with Livewell. To date, Livewell has refused to negotiate in good faith to settle this lawsuit. Livewell has rejected no less than XXXX repayment plans I have submitted over the past year, without making a reasonable repayment plan according to my income. I am a XXXX receiving social security and income from a part time job of approximately XXXX per month.
My sister, XXXX, who is XXXX years old, lives with me, contributes to the household expenses and maintenance. She has an equitable interest in our home, she is my next of kin and under Pennsylvania law, my only heir. Livewell 's unethical, predatory practices have not only placed me in jeopardy of losing my home, it has jeopardized my sister 's right to inherit the property if I were to predecease her. I am requesting that the CFPB intervene to protect seniors such as myself and my sister from the predatory practices of Livewell Financial and other mortgage lenders and servicers like Livewell.
|
| 12/04/2017 |
Yes |
- Mortgage
- Reverse mortgage
|
- Trouble during payment process
|
|
Web |
|
|
In the year XX/XX/XXXX I missed paying my first installment of my property taxes by the XX/XX/XXXX. At that time Live Well stepped in and paid both installments then refused a repayment program with me. After I was finally able to get a repayment scheduled they gave me a payment plan in which I accepted. After a few months of paying this they refused payments from me all of a sudden and tried to foreclose on my home. I took them to court over this and won. I received a new payment plan from the courts and have been paying on it ever since. Now this year XX/XX/XXXX I contacted the tax office to ask a question about a payment to my taxes only to find out they had already been paid in full on the XX/XX/XXXX. Not only did they step in and pay them early they did it without my knowledge and wants to charge me over XXXX dollars for them paying them. They also will not allow me a repay on it. I sent them XXXX dollars with a letter to put it towards the XX/XX/XXXX taxes along with the regularly scheduled payment for the XX/XX/XXXX taxes. They chose to ignore my letter and put the whole XXXX dollars towards the XX/XX/XXXX taxes and now they are refusing to let me pay for the XX/XX/XXXX taxes and are also refusing the court ordered XX/XX/XXXX payment which is almost paid in full. They have just decided they are foreclosing on me no matter what. They are the ones who paid my taxes early without even giving me till the due dates. They are also the ones that are refusing the court ordered payment for no reason.
|
| 01/31/2018 |
Yes |
- Mortgage
- Reverse mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
Older American, Servicemember |
|
We have a reverse mortgage on our home with Live Well reverse mortgage company with only my wifes name. Weve been married over 49 years. My wife past away XX/XX/XXXX. I am the non borrower spouse. I contacted the mortgage company and they sent me the needed paperwork. I immediately sent them everything by fax. They continue to tell me they didnt Receive the paperwork or only received a partial. I resent them the missing paperwork several times. I even emailed it to them and have confirmation.
I contacted them on XX/XX/XXXX for status.
They informed me that I missed the deadline of XX/XX/XXXX, when in fact I had sent them all the documents.
They gave me options. 1. Sell the property. 2. Let foreclose or give them the deed. The appraised value is {$420000.00} and the balanced owed is {$60000.00}.
Why would I let it foreclose.
I feel that the dropped the ball and I should not be penalized.
Ive lived at the property with my wife for over 22 years.
They wont listen to me. I have all the paperwork they requested. I need someone to step in.
Thank you
|
| 01/23/2018 |
Yes |
- Mortgage
- Reverse mortgage
|
|
|
Web |
Older American |
|
In connection with application for reverse mortgage, on XX/XX/XXXX I gave a paper check for the appraisal to XXXX XXXX, an agent of Livewell Financial. Then I withdrew the mortgage application, and the appraisal was canceled 4 days before it was scheduled. Meanwhile, on XX/XX/XXXX my bank paid the check electronically before I could place a stop order. Now Livewell and their agents claim they do not have the money. My paper check has never cleared the bank. I signed an ARIZONA ADVANCE FEE AGREEMENT which obligates Livewell and their agent to refund the appraisal fee if the service is not performed. Someone -- Livewell or their agent -- has my {$290.00} ; but everyone involved, including the notary, the appraiser, Livewell and XXXX XXXX XXXX XXXX, all deny that they were paid. Someone has my check in their possession and wo n't admit it. One of these bad actors is lying to me.
|
| 08/02/2017 |
Yes |
- Mortgage
- Reverse mortgage
|
- Struggling to pay mortgage
|
|
Web |
Older American |
|
RE : Livewell Financial , Inc. v. XXXX XXXX XXXX XXXX County Pennsylvania Court of Common Pleas No. XXXX We represent PXXXX XXXX XXXX relative to the above referenced reverse mortgage foreclosure action. XXXX XXXX was referred to us by the Area Agency on Aging. Her home is being foreclosed on because of a Tax and Insurance default cause by a temporary shortage of funds.
XXXX XXXX presented a budget that shows she has enough income to support a payment plan to pay the ongoing taxes and insurance and to cure the arrears within the 60 month time frame afforded by HUD. In fact, according to the budget presented, she could cure the total arrearage within three years. However, Live Well has stated that it is their company policy that they do not allow payment plans to exceed one year.
|
| 04/22/2016 |
No |
|
- Loan modification,collection,foreclosure
|
|
Web |
|
|
House has been vacant for years in violation of reverse mortgage. Association assessments have not been paid for years ( also in violation of reverse mortgage ).
House has not been maintained. Water is penetrating the exterior shell. As a direct result, the XXXX immediately adjacent townhouses are at risk of water penetration also ( which may have already occurred ).
We are a small homeowners association, and can not afford the additional burden of a non-paying unit.
Foreclosure was formally halted more than a year ago without notice or explanation. Foreclosure was reinstated in XXXX 2015 but is presently stalled without notice or explanation.
|
| 05/07/2019 |
Yes |
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
Servicemember |
|
My name is XXXX XXXX, XXXX, I work for XXXX XXXX XXXX out of XXXX, WA. On XX/XX/2019, I secured financing for my clients through LiveWell Financial ( loan ID # XXXX ) for a purchase mortgage, locked the interest rate at 3.625 % on a 30 yr fixed rate and submitted the documentation for loan approval.
On XX/XX/XXXX I received an email from this company confirming they were ceasing operations and that our borrower had to obtain financing elsewhere. The locked interest rate of 3.625 % was no longer available.
Please see signed disclosures, particularly the lock agreement ( page 28 of 60 )
|
| 08/24/2017 |
Yes |
- Mortgage
- Reverse mortgage
|
- Struggling to pay mortgage
|
|
Web |
|
|
My father XXXX XXXX XX/XX/XXXX. Before that time he took out at a reverse mortgage back in XX/XX/XXXX. Now that he XXXX the company which is called Living Well Financial contacted me and told me that I had to make arrangements to pay the loan back or they were going to start foreclosure proceedings. I feel in my heart that this company took advantage of my father because of his age and the fact he was XXXX XXXX.
|
| 08/17/2015 |
Yes |
|
- Application, originator, mortgage broker
|
|
Web |
Older American |
|
we applied for a FHA mortgage. We are concerned the appraiser is not a fha certified appraiser. We are also concerned the loan company LiveWell Financial is some kind of scam based on XXXX complaints we read online. After the appraisal they would not answer our calls and we obtained our appraisal after considerable effort on our part almost XXXX month later. The appraisal was 75 % less than we hoped.
|
| 06/06/2018 |
Yes |
- Mortgage
- Reverse mortgage
|
- Struggling to pay mortgage
|
|
Web |
Older American, Servicemember |
|
Reverse Mortgage on my property was scammed by a criminal posing as an FBI agent.
The amount that was due in XXXX was taken away by telling me that I had won an award that taxes had to b paid to agents of the FBI. The mortgage company should never have released the funds because the safe guards were not observed.
|
| 01/21/2017 |
Yes |
- Mortgage
- Reverse mortgage
|
- Loan modification,collection,foreclosure
|
|
Web |
Older American |
|
My Lender will not give me a Loan Modification on my Father : s Home my Fsther Died and left me his Property so i am the Administrator of his Estate but this lender will not work with me on a Loan Modification and the lender has a sale date and the lender will not work with me so my home is going to sale
|
| 08/01/2017 |
Yes |
- Mortgage
- Reverse mortgage
|
- Struggling to pay mortgage
|
|
Web |
Older American, Servicemember |
|
Reverse Mortgage Livewell Financial XXXX Mi. Money I got advanced for equity was used, owed some county taxes that did n't get paid. They said sent notices about them, and then sent notices for foreclosure, didnt receive. They fore closed XXXX,2017.
|
| 10/26/2021 |
No |
- Mortgage
- Reverse mortgage
|
- Trouble during payment process
|
|
Web |
|
|
|
| 07/14/2021 |
No |
- Mortgage
- Reverse mortgage
|
- Trouble during payment process
|
|
Web |
Older American |
|
|
| 04/29/2019 |
Yes |
- Mortgage
- Reverse mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Postal mail |
Older American |
|
|
| 12/06/2018 |
Yes |
- Mortgage
- Reverse mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
Older American, Servicemember |
|
|
| 12/04/2018 |
Yes |
- Mortgage
- Reverse mortgage
|
- Trouble during payment process
|
|
Fax |
|
|
|
| 06/01/2018 |
Yes |
- Mortgage
- Reverse mortgage
|
- Struggling to pay mortgage
|
|
Referral |
|
|
|
| 05/21/2018 |
Yes |
- Mortgage
- Reverse mortgage
|
- Struggling to pay mortgage
|
|
Web |
|
|
|
| 01/11/2018 |
Yes |
- Mortgage
- Reverse mortgage
|
- Struggling to pay mortgage
|
|
Fax |
|
|
|
| 12/12/2017 |
Yes |
- Mortgage
- Reverse mortgage
|
- Trouble during payment process
|
|
Referral |
|
|
|
| 11/07/2017 |
Yes |
- Mortgage
- Reverse mortgage
|
- Trouble during payment process
|
|
Referral |
|
|
|
| 08/24/2017 |
Yes |
- Mortgage
- Reverse mortgage
|
- Struggling to pay mortgage
|
|
Web |
Servicemember |
|
|
| 08/17/2017 |
Yes |
- Mortgage
- Reverse mortgage
|
- Trouble during payment process
|
|
Web |
Older American |
|
|
| 08/09/2017 |
Yes |
- Mortgage
- Reverse mortgage
|
- Struggling to pay mortgage
|
|
Phone |
Servicemember |
|
|
| 05/16/2017 |
No |
- Mortgage
- Reverse mortgage
|
- Applying for a mortgage or refinancing an existing mortgage
|
|
Web |
|
|
|
| 03/20/2017 |
Yes |
- Mortgage
- Reverse mortgage
|
- Loan modification,collection,foreclosure
|
|
Referral |
|
|
|
| 12/27/2016 |
No |
- Mortgage
- Reverse mortgage
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
|
| 10/03/2016 |
Yes |
- Mortgage
- Reverse mortgage
|
- Application, originator, mortgage broker
|
|
Referral |
|
|
|
| 09/29/2016 |
Yes |
- Mortgage
- Reverse mortgage
|
- Loan modification,collection,foreclosure
|
|
Web |
Older American |
|
|
| 06/23/2016 |
Yes |
- Mortgage
- Reverse mortgage
|
- Application, originator, mortgage broker
|
|
Phone |
Older American, Servicemember |
|
|
| 06/14/2016 |
Yes |
- Mortgage
- Home equity loan or line of credit
|
- Loan servicing, payments, escrow account
|
|
Referral |
Older American |
|
|
| 05/24/2016 |
No |
- Mortgage
- Reverse mortgage
|
- Loan modification,collection,foreclosure
|
|
Phone |
Older American |
|
|
| 01/22/2016 |
No |
- Mortgage
- Reverse mortgage
|
- Loan modification,collection,foreclosure
|
|
Fax |
Older American |
|
|
| 12/09/2015 |
No |
|
- Loan servicing, payments, escrow account
|
|
Referral |
|
|
|
| 09/02/2015 |
Yes |
- Mortgage
- Reverse mortgage
|
- Application, originator, mortgage broker
|
|
Postal mail |
Older American, Servicemember |
|
|
| 08/27/2015 |
No |
- Mortgage
- Reverse mortgage
|
- Loan modification,collection,foreclosure
|
|
Web |
|
|
|
| 08/17/2015 |
Yes |
- Mortgage
- Reverse mortgage
|
- Settlement process and costs
|
|
Web |
Older American |
|
|
| 09/12/2014 |
Yes |
- Mortgage
- Reverse mortgage
|
- Loan servicing, payments, escrow account
|
|
Phone |
Older American |
|
|
| 09/08/2014 |
Yes |
- Mortgage
- Reverse mortgage
|
- Loan modification,collection,foreclosure
|
|
Web |
|
|
|
| 07/10/2014 |
Yes |
- Mortgage
- Reverse mortgage
|
- Settlement process and costs
|
|
Referral |
|
|
|
| 11/29/2013 |
No |
- Mortgage
- Reverse mortgage
|
- Settlement process and costs
|
|
Web |
|
|
|
| 09/10/2013 |
Yes |
- Mortgage
- Reverse mortgage
|
- Loan modification,collection,foreclosure
|
|
Postal mail |
Older American, Servicemember |
|
|
| 01/30/2013 |
Yes |
- Mortgage
- Reverse mortgage
|
- Loan servicing, payments, escrow account
|
|
Web |
|
|
|