| 08/22/2023 |
Yes |
- Mortgage
- Reverse mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
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Background Im the sole caretaker for my XXXX ( age ) mother, who is currently battling XXXX. I was laid off in XXXX of XXXX We have two loans 1 ) to XXXX XXXX in the amount of $ XXXX ( approximate ) 2 ) to XXXX in the amount of {$130000.00} XXXX South River Mortgage called us about a loan. We researched the company and were satisfied that this might be a good solution.
XX/XX/XXXX After speaking with XXXX XXXX on the phone to discuss options, we sent various documents that were requested and also paid {$140.00} for the mandatory counseling.
XXXX XXXX A notary was sent to the house with documents to be signed. After that XXXX said that he needed a pic of Moms social security card. He was told several times that the social security card could not be found but we had an old ID issued by the Department of Defense that listed her SSN. He said to send that to him.
XXXX We received a delivery from XXXX from XXXX. The XXXX envelope contained another XXXX envelope pre-addressed to him. I asked XXXX about it but he never addressed it.
XX/XX/XXXX We received a letter dated XX/XX/XXXXXXXX stating that the loan offer would be withdrawn/inactive if we couldnt get them the missing documents by XX/XX/XXXX. I emailed XXXX about this along with photos of her expired DL and the military ID that showed her SSN.
XXXX said that it was impossible to move forward without a copy of the SSN card, despite his earlier statements. He did say that he would send the disclosure docs to be e-signed to extend the loan and give us time to make an appointment with the social security office to try and get a new card mailed out.
XX/XX/XXXX XXXX emailed to say that he could get the loan proposal extended without having the documents re-signed and that we could just sign Form SSA-89 ( Social Security Verification ). I printed the form and mailed it back to XXXX and never heard from him again. He never responded to emails or texts that were sent to him. Follow-up calls to the company about him were also not fruitful.
XXXX when the loan was scheduled to close XX/XX/XXXX XX/XX/XXXX I heard from XXXX XXXX because he wanted me to call XXXX XXXX about their lien which had already been released via bankruptcy proceedings. I forwarded him copies of the Order pertaining to that judgment.
XX/XX/XXXX XXXX emailed me an authorization to get payoffs from XXXX XXXX XXXX XXXX. I printed them and mailed them back along with sending him a photo of the signed form.
He then asked for a 24 month payment history from XXXX XXXX. By this time XXXX XXXX had removed online access to the home equity account so I called their customer service to request the 24 month payment history. They agreed to email it.
XXXX XXXX I finally received this 24 month payment history because XXXX XXXX mailed it instead of emailing it as I had requested. I texted photos of the 24 month payment history to XXXX the same day I received it, and never heard anything from him again.
Also on XXXX, XXXX initiated legal action to foreclose per a letter they sent to XXXX XXXX. XXXX XXXX will be going to XXXX XXXX soon on their loan.
Week of XX/XX/XXXX XXXX XXXX informed us the lender wanted us to pay for the appraisal, which was estimated to be $ XXXX, because the payoffs were higher than expected. The payoffs are higher because of mounting interest and late fees- this was supposed to have closed around XX/XX/XXXX. The house will now have to appraise at more than {$500000.00} ( in XXXX when we first spoke to XXXX he asked what we thought the value of the home was and I told him about {$350000.00} ).
I explained to him that we can not afford to pay for the appraisal ( we only went for the reverse mortgage because XXXX said XXXX XXXX would pay for the appraisal and all fees except for the counseling ). I explained to him what was going on with XXXX medical condition as well as my own circumstances of being unemployed and sent him all of the supporting documents.
XX/XX/XXXX I received email confirmation from XXXX that he had received the documents and was working on a letter to the lender to get an exception.
XX/XX/XXXX We were informed that XXXX XXXX is now handling our case. He said that he had finished the letter to the lender and when he heard back by the end of that week he would let us know so they could order the appraisal.
XXXX XXXX I texted XXXX back to see if there was any word from the lender.
XXXX He texted to say that the lender wants clarification and documentation why two mortgage payments were received late in XX/XX/XXXX and XX/XX/XXXX. We have documentation to support that the checks were mailed on the XXXX of each month. XXXX deliveries were delayed because of the pandemic, as was widely reported in the news.
XX/XX/XXXX He texted asking for the 24 month history that had been requested by XXXX. I sent it to him on XX/XX/XXXX.
XX/XX/XXXX I texted XXXX to ask if there was any movement and he said that the lender again rejected the request for extenuating circumstances.
Currently : On XX/XX/XXXX XXXX initiated legal action to foreclose per a letter they sent to XXXX XXXX.
XXXX XXXX will be going to Trustees Sale soon on their loan and we are no closer to getting this reverse mortgage and getting the house out of foreclosure than we were nearly five months ago when this started in XXXX.
We have promptly provided every requested document, responded in a timely fashion, and have dealt with the numerous changes in employees weve interacted with, all while dealing with my mothers serious health issues.
I do not believe that this is in any way how this should have been handled by South River Mortgage or the lender, XXXX XXXX XXXX, and the comments by various employees have been fraudulent. I believe they were stringing us along for months with the goal of getting us to pay for the appraisals.
We should not be the ones ending up homeless because of what appears now to been incompetence or fraudulent business practices.
The process has been unnecessarily complicated and with every new employee, weve had to start over from the beginning instead of progressing towards the goal of a reverse mortgage.
This has been unduly stressful and has had a negative effect on my mothers health, as well as my own. I desperately want to return to a time where we are again able to pay our mortgage in a timely manner and can focus on overcoming XXXX for my mother.
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| 05/02/2023 |
Yes |
- Mortgage
- Reverse mortgage
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- Trouble during payment process
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Web |
Older American |
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We went through South River Mortgage for a Reverse Mortgage, we were dealing with XXXX XXXX his phone # is XXXX. It took a year to get through this and we mainly went for the Loan so that we can get out of debt and to fix up our house. Well when it came to closing they rushed us through the signing. We were told to get Air Conditioner done and also to paint the house, that was suppose to be paid at the closing. The paper work even said if they asked you to fix something that it was suppose to be paid at closing and they did not pay, I am paying payments to the Air condition Company, and trying to pay the painters off. The Air Conditioner owner was very angry also and would talk to XXXX and he kept telling him we were closing soon and that he would get paid, then towards the end he wouldn't even answer his calls, we need a new roof, new electric Box, then repairs in the home, We received {$2800.00} I had to get the rest of the money to make it {$3000.00} down to start paying off the air conditioner man and we have to pay him {$500.00} a month, we shouldn't have to pay anything, I tried calling XXXX so many times and he would not answer the phone, it went from South River Mortgage to Open Mortgage to XXXX, we didn't know what was going on, very confusing, we have money in Escrow and they told me I would get money next year now XXXX says I'm not getting any money, so what is the purpose of us doing this if we have to pay for everything our self 's. Please help Me.
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| 09/22/2022 |
Yes |
- Mortgage
- Reverse mortgage
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Web |
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we applied for a reverse mortgage through South River Mortgage, XXXX MD. After 2 appraisals which were close to each other although about 25 % below XXXX according to several realtors, we were provided an approval subject to several contingencies all of which were complied with within 10 days. Then, the process stopped and communication also stopped. We had complied completely and should have had immediate clearance to close. But then after around 5-7 days the Company arbitrarily lowered the appraised value with no grounds to do so and cut the proceeds we were to receive from approximately {$400000.00} to {$19000.00}. They completely changed the deal that they had agreed to and represented to us with no justification. Why bother to get an appraisal if they are just going to pull a number out of thin air? They fraudulently presented a loan approval at a certain amount subject to conditions we met and they affirmed, but then changed the deal at the 11th hour. We were forced to accept the revised loan due to the fact there was no alternative. They owe us the additional funds they did not provide at a minimum.
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| 01/02/2023 |
Yes |
- Credit reporting, credit repair services, or other personal consumer reports
- Credit reporting
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- Improper use of your report
- Credit inquiries on your report that you don't recognize
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Web |
Older American, Servicemember |
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Tried contact to request them to stop repeated inquires that I am not aware of, companies with inquiries that has been on my report for 2 years are more. everytime I contact them It appears that to retaliate, it is pulled every XXXX days. South River Mortgage contacted me about a Reversed Mtg.loan. They asked me questions. I asked for a printed breakdown of cost. They wanted to send out a notary who would have me sign forms and give me a copy.
I called the loan office that evening left a message that I was uncomfort. the next he called me and tried to convince me to move forward. The next day another XXXX called and said the loan officer was no longer there and he would take over. I explained I was uneasy and not comfortable. Make sure that anything that they had acquired was deleted or destroyed. The next to days up to Saturday morning early. They contact me. Then I started getting inquiries from XXXX mortgage. Now my credit score has gone from XXXX to XXXX. I need the inquiries to stop. If I am not seeking a loan how can them or others they are doing business pull my credit at will.
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| 08/01/2022 |
Yes |
- Mortgage
- Reverse mortgage
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Web |
Older American |
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I applied for a reverse mortgage told I'd been approved then told on XXXX that the man who was handling it was sending out by XXXX questions they had overnight. On the XXXX I told him nothing came. He told me he had a tracking number. I ask for the number. For seven days I tried to contact him. On the XXXX day I called the company to find out why I had not heard from him, found out he was out of town. Called back after I hung up to speak to his supervisor but was not given to his supervisor. He came back on the XXXX told me he would send another on, gave me a tracking number. Today is the XXXX. I still have recieved nothing XXXX tracking says they have no such tracking number like the one he gave me. I am tired of being lied too while the interest rate goes up. I changed XXXX XXXX co. After being treated the same way by the first one. I am a single XXXX female and I don't know what to do. Counseling and appraisal are only good for 6mos and I've been given two dates this man told me this would be finished and there long gone. Help
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| 02/04/2021 |
Yes |
- Mortgage
- Reverse mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
Older American |
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I am in the reverse mortgage business and have a reverse mortgage on my own home. I was scared when I received the attached letter stating my reverse mortgage had " expired '' ... what happened I thought to myself. Upon reading the letter and confirming with my son who is a Certified Reverse Mortgage Professional ... I realized it was a solicitation for me to call about a refinance. I think this letter is too shocking to send out to seniors who have a reverse mortgage. It causes anxiety and and worry.
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| 04/18/2023 |
Yes |
- Mortgage
- Reverse mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
Older American |
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| 11/18/2022 |
Yes |
- Mortgage
- Reverse mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Phone |
Older American |
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| 07/13/2022 |
Yes |
- Mortgage
- Reverse mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Phone |
Older American |
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| 07/19/2021 |
Yes |
- Mortgage
- Reverse mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Phone |
Older American |
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| 06/12/2021 |
Yes |
- Mortgage
- Reverse mortgage
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- Applying for a mortgage or refinancing an existing mortgage
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Web |
Older American |
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