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J. Warren
J. Warren, Lawyer
Category: Real Estate Law
Satisfied Customers: 2211
Experience:  Experience in residential real estate and commercial leases.
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Reverse mortgage lenders are discriminating against me

Customer Question

reverse mortgage lenders are discriminating against me because of my fixed income and are using unreasonable standards to disqualify me for a reverse mortgage i need.
Submitted: 5 months ago.
Category: Real Estate Law
Expert:  J. Warren replied 5 months ago.

Hi! My name is ***** ***** I will be helping you today! It will take me just a few minutes to type a response to your question. Thanks for your patience!

Expert:  J. Warren replied 5 months ago.

Hello and welcome to JustAnswer. Please note: This is general information for educational purposes only and is not legal advice. No specific course of action is proposed herein, and no attorney-client relationship or privilege is formed by speaking to an expert on this site. By continuing, you confirm that you understand and agree to these terms.

I am sorry you are dealing with this situation. If the lender is discriminating you will either have to file a lawsuit against them asserting discrimination and proving in fact they have. Even if they are discriminating and are in violation of the law, unless adjudicated as doing so, there is no remedy for the victim of the discrimination. However, as you can imagine, a lawsuit is expensive and takes time.

An alternative would be to file a consumer complaint against the reverse mortgage lender and let the overviewing agency investigate and possibly resolve the situation and issue fines and penalties to the lender. A complaint can be submitted to the Consumer Financial Protection Bureau: http://www.consumerfinance.gov/complaint/

All my best and encouragement. Thank you for allowing me to help you with your questions. I realize this was not the answer you were hoping to receive however I have done my best to provide information which truthfully addresses your question. Please note: If I tell you simply what you wish to hear, this would be unfair to you. I need to be honest with you and sometimes this means providing information that is not optimal. Negative ratings are reserved for experts who are rude or for erroneous information. Please rate me on the quality of my information; do not punish me for my honesty.

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