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Irwin Law
Irwin Law, Lawyer
Category: Real Estate Law
Satisfied Customers: 7306
Experience:  Lawyer- Broker 30+years - foreclosure, short sale, liens, title attorney.
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I have a reverse mortgage. nothing as advertised. I have

Customer Question

I have a reverse mortgage. nothing as advertised. I have lived for about 7 years now. today mortgage company trying to put me in the streets. all my bills are monitored and controlled. I can not even pay my own bills. the bills usually come in normally. I was able to pay without any problems. now the water, taxes. if not paid all at once there is a problem. you will find it paid by reverse mortgage company. reverse mortgage co then demand pay up in full all the value of house which is usually padded. or get out. I can not stand the harassment. I thought I would be able to retire in peace. instead I rue the day I changed to reverse. the bank is bank of America. "reverse mortgage solutions, inc" a nightmare. it would be less if obtained a reduced mortgage. I requested one from bank of America. but no responce
Submitted: 11 months ago.
Category: Real Estate Law
Expert:  Irwin Law replied 11 months ago.

Good morning. I am sorry to hear that you are having this serious problem. If you failed to pay the real estate taxes them that was a violation of the terms of the reverse mortgage. That is why you are facing foreclosure suit. There is not much you can do other than pay the mortgage company what they say you owe them, or hire an attorney to fight the foreclosure suit. At this point, Bank of America cannot alter the type of mortgage that you have or make you a different type of loan.

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