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Financial Freedom Senior Funding
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1.5 8 Reviews

Financial Freedom Senior Funding Complaints Summary

1 Resolved
7 Unresolved
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10:42 pm EST
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Financial Freedom Senior Funding reverse mortgage

My mother has had a rm with ff since 2005. I got involved when they kept purchasing homeowner insurance. And said they paid the property taxes. So I started going through the paperwork and saw that they did pay some but not all. Asked to a payoff amount for the reimbursement. It had gotten to the point of forclosure. She applied to "save your home america" and it was approved. (even after being notified that the loan was approved) (to reimburse ff for property taxes and insurance that they claimed to have paid) the account was back in good standing.

I have her insurance company to send ff declaration of insurance (proof of coverage that we purchased) ff sends us a letter that they paid our insurance company and the funds was paid out of the "hhf" account (hardest hit fund)? I call to investigate and it is the excess money that "save your home america) paid to ff reimbursement. I call ff to tell them my insurance company was notify them of coverage... It was not a request for payment. I contact my insurance company and asked them if they recieved a check from ff in the amount that would cover the whole year, they said no payment had been received from ff. 4 weeks later I received another letter from ff that they paid my insurance company again different amount on my behalf from the"hhf"account. I spoke with someone again at ff. This person told me that I could ask for a refund and I would have to ask."syha"? but it would probaly not happen because the funds would expire if not used. So ff pocketed that money. That is fraud! and my insurance company has not received any payment from ff. That is fraud!

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1:13 pm EDT
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Financial Freedom Senior Funding reverse mortgage

My mother had a reverse mortgage with Financial Freedom. She received $400+ a month and the interest was over $650 a month. She owed $52, 000 on her house when she signed up...Mom passed away in February 2017 and I just paid off the Financial Freedom loan for $215, 000! I received a letter indicating the loan was paid in full, but did not receive the "Membership Certificate" which I must have (her home is part of a co-op). The Membership Certificate is the collateral for the home. I have made several calls, sent emails, faxes, etc. to try to find out where the membership certificate is. There are no direct lines to anyone except "Customer Service" and they don't give you any help except to say your request will be dealt with in the order it was received. IF I CAN'T LOCATE THIS MEMBERSHIP CERTIFICATE, I HAVE TO GET A BOND WHICH WILL COST $5, 000! Financial Freedom is VERY difficult to work with. I had to get attorneys to help with the initial pay off and even they couldn't believe how difficult it was to get anything out of these people.

Do yourselves a favor...make certain NOT to do business with these thieves!

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10:43 am EDT

Financial Freedom Senior Funding endorse an insurance check

This company is as shady and tricky as they can possibly get. They really push the line of a legal grey area to keep your money. I got my roof replaced in June. It is now October and they will not endorse my insurance check that I got from my insurance company! I have filled out all kinds of forms, notarized, set up inspections and nobody calls or shows up. It is sad that this company is run this way and if I was the owner or an employee I would be ashamed to work for a place that takes advantage of the elderly with a process that is impossible.

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10:29 am EDT

Financial Freedom Senior Funding elder abuse

My parents took out a reverse mortgage in 2006 - we now have to put them in assisted living and are trying to short sale the house - unfortunately, financial freedom has tacked on a exhorbant amount of fees and interest over the past 12 years and my parents are so upside down on this mortgage they could never pay it off (Which by the way, financial freedom was about to demand repayment of the entire amount from a 76-year old and his 88-year old wife who are both in poor health).

An "administrator" was assigned to the short sale but you cannot call that person because they don't have phones and the only way to contact them is by email and when they decide to check that, then you have communication. I have been dealing with the run around from the "call center" in houston trying to get them to move their collective [censor] and get an appraiser (Who by the way was bought and paid for by financial freedom and who spent 10 minutes at my parents home and appraised the house using comparative listings). After 4 weeks, financial freedom made any offer based on their appraiser's crappy report. They don't follow their own policies regarding short sale procedures and are evasive

This is a scam company preying on the elderly - do not get a reverse mortgage with this company, or any other reverse mortgage company for that matter. Your parents will suffer extreme mental anguish.

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1:04 pm EDT
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Financial Freedom Senior Funding reverse mortgage

My parents decided to do a reverse mortgage with Financial Freedom. My dad passed and then 8 months later my mother passed. My sister and I cleaned out the house and turned in the paperwork in October to Financial Freedom, they will not take the house. They said we didn't have the authority to turn the house over to them. We are the beneficiaries of the estate and this is what our parents agreed to. We are now hundreds of dollars in debt with lawyers. Our parents were told we would have 90 days after the last one left the house to turn it over to Financial Freedom. It's been a year and they are still making us jump through hoops. If you or your parents are thinking about going through this company... Think again!

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8:55 am EDT
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Financial Freedom Senior Funding reverse mortgage

My Mother, Ann Wiesemann passed away in January of 2011. She had taken out a reverse mortgage on our home which I was not aware of. As her daughter, they are holding me responsible and I am financially struggling myself. I had to file for bankruptcy just to stay here and keep a roof over my head. It is a small run-down house in Gary, Indiana and not worth anything to be quite honest, maybe $ 8000 at the most. It will be put up for sherriff's sale again, so I will have have to file again. They harass me and made my life a total living hell! I did not sign anything, so why I am I being punished? I am just trying to keep my head above water. She never received any large sums of money from these people so I just do not understand how they can do this to me. The "loan number" is 7054562.
Lisa Wiesemann

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Update by lawiesemann
Jun 13, 2016 8:59 am EDT

no photos at this time

Update by lawiesemann
Jun 13, 2016 8:58 am EDT

I have done research on this company and my Mother is not the only senior citizen taken advantage of- just look up Financial Freedom Fraud on the internet.

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3:02 am EST
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Financial Freedom Senior Funding misrepresentation to elderly

The elderly brother of my wife, received this incredible offer in the mail that Financial Freedom Reverse Mortgage would pay him cash upfront, for his house and he would never have to repay the loan. Obviously he did not understand that he was supposed to make monthly payments back to the mortgage company. When the statements started coming, the payment was over $500/mo, and he only had social security for income. Now, 5 years later, we find out that the mortgage company says that he owes over $115, 000 on a property value of $80, 000. Now they are send letters that say they are going to foreclose on the house, and he will have no place to go. Five years ago, he had a home paid for, and now nothing. This is clearly abuse to the elderly.

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jackmel
, US
Sep 24, 2018 11:48 am EDT
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We have experienced all of the above with Financial Freedom. Our childhood home was bought and paid for in cash for $23, 500 in 1955. Somehow my mother was talked into a reverse mortgage from this horrible company. At the time of her death in Sept 2017 - over $700, 000 was due. They wanted to foreclose on the house immediately after her death. We never talked to the same representative twice. My sister and I didn't even know my mother had gotten a reverse mortgage on the house. This is criminal and should be stopped. It is robbing families of their homes.

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TEvers
, US
Jul 28, 2016 3:33 pm EDT
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Yes, Financial Freedom is dishonest and needs to be closed down. They have and will continue to cheat the elderly out of their homes and the government and HUD especially are turning a blind eye to them. Mis-information, and outright lying from their customer service agents.

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mj barilone
Baltimore, US
Mar 24, 2014 11:04 am EDT

After fighting to save our family home from foreclosure from an unethical reverse mortgage that broke state statutes, HUD regulations, the lenders own regulations and many issues for almost 7 years they have posted an eviction notice on our home that is effective April 2. These people are stealing our home. It was free and clear (that is the kind they like), and Mom had no debt. Mom and Dad worked hard all their lives and these thieves are stealing everything they worked for. It breaks my heart but the courts just rubber stamp these things and the banks don't care about people. God help them I don't know how they sleep at night. They are souless heartless greedy vultures.

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Tegami
Edmeston, US
Feb 22, 2014 7:19 pm EST

This company made my mother lose hundreds of dollars by paying up the full amount of her taxes when she was eligible for a reduced rate due to her income. When we called to complain, the representative was rude and threatened foreclosure unless we immediately paid them the money they put out. My mother is 87 years old and has macular degeneration and hearing loss and when I complained to them about their treatment, they ignored us.
Seniors beware!

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LAEA
, US
Feb 04, 2013 5:01 pm EST

Beware of doing any type of business with this company. They are owned by One West Bank
of Irvine, California and they handle the reverse mortgage portfolio. They had purchased and
serviced a reverse mortgage that my elderly mother had taken out with a local bank in New York
State. When she passed away they did not give the time extensions to sell the house that
are normally granted to the heirs and have started foreclosure procedures.

I repeat, BEWARE of this company.

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lil glennon
Danielson, US
Sep 13, 2012 10:40 am EDT

Yes, I am sorry for your tragic situation. My mother is experiencing the same issues. This company is clearly unprofessional and not clear on their terms of agreement. This scam should be reported. Clearly, this is abuse to the elderly.

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4:46 pm EST
Resolved
The complaint has been investigated and resolved to the customer’s satisfaction.

Financial Freedom Senior Funding sneaky dealings / foreclosure

My husband had taken out a reverse mortgage (R. M.) through financil freedom. He died while i was seven months shy of the required age of 62. Once they found out he was dead, they sent notices to 'the estate of' wanting to know how this loan was going to be repaid. I hired an attorney who knew nothing of these loans, and wasted about 8 months of my time. Once i was the required age, i had hired an attorney i thought was going to help me get my own r. M. Under my name since the one my husband had was now null and void. There was a lot of worry and fretting since the company financil freedom makes themselves scarce, but finally they sent me the paper work to file for my own reverse mortgage. I waited, waited, waited for some kind of acknowledgement that they had granted it. After a long wait i called the attorney and she advised me not to pay the property taxes as it seemed financil freedom was now trying to back out of the reverse mortgage. An interesting thing was that when my husband died, there was a credit line of just over $1200. When i asked about that, financial freedom quickly used it to pay the taxes due, which were just about the same amount of money.
(In the meantime, financial freedom had started sending the monthly statements again, addressed to my dead husband, when by the earlier questioning of paying the loan stated 'the estate of'. I guess they resurrected him for their own strange reasons, but now the credit line showed just over $4000! How did a dead man get more credit line money?!)
It has been a few months since i sent in the paper work required for the mortgage. A week ago, the mail carrier rang my bell with letters for me to sign for. She had a bundle of 14 total, 7 of which needed signing. They were all the same notice. They were addressed to: (1) estate of ***** ***** (2) tenent (3) personal rep of the estate (4) heirs and devisees of ***** ****** (5) occupant (6) spouse of ***** ***** and (My deceased husband! There was a regular mailing of seven of these, along with seven of the certified mail i had to sign for. Along with that, there have been two attached to my door.
All these mailings have come from a third party financial freedom seems to have 'sold' the contract they had with my deceased husband.
There was never an explaination of why they were refusing to honor the papers i signed, nor a warning they were going to do this. The notices, by the way, let me know that on june of this year there will be an auction of my home to the highest bidder. . . I would suggest anyone looking for a r. M. Pass up financial freedom. They seem to have an underhanded way of doing business, and i think i can promise they will cause you or your heirs unlimited grief. I am trying to see if this was even done in a legal manner. Avoid financil freedom, they are not honest in their dealings with people. What makes it hard for me is that i live on $396 a month social security. It is going to take up to two years to get an apartment through low income housing.
Oh and in case anyone wonders who this third party that is holding the 'auction' is, they are regional trustee services corporation, 616 1st avenue, suite 500, seattle, wa, 98104. So if you get many, many mailings all at once and this address is on the front, (Rtsc) kiss your home and hopes goodbye. They are seemingly in cahoots with financial freedom. Jean

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please read for your own sake
, US
Jul 26, 2019 4:00 pm EDT

heree are some other things for you to read
http://www.usa-the-republic.com/jurisprudentia/foreclosures/How_I_Lawfully_Claimed_3_Houses_Free_and_Clear.pd

http://www.usa-the-republic.com/jurisprudentia/foreclosures/Where_Does_The_Fraud_Begin[1].pdf

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please read for your own sake
, US
Jul 26, 2019 3:56 pm EDT

If you want to contact me i can help you . Contact me [protected]. Please send me a txt first letting me know your going to call me because i wont answer otherwise.

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please read for your own sake
, US
Jul 26, 2019 3:50 pm EDT

Everyone needs to go on google and read were does the fraud begin and you will be able to save your homes from these monsters
WERE DOES THE FRAUD BEGIN explains how these greedy bankers steal your homes after being paid 3 or 4 times over for it . If you do research you will learn that your home was paid for when you signed the promissory note. They never gave you a loan they just did a money exchange . Please go read and do research. http://www.usa-the-republic.com/jurisprudentia/foreclosures/index.html

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Noahrobinln
, US
Aug 21, 2018 1:23 am EDT
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Long story short they are taken my family house.Tried to pay them off they would not respond to anything I have tried to do.I would like someone to investigate this company.If I need to send you the paper work they send I would be happy too. PLEASE HELP ME.My house is being auctioned off in 5 days

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Kel Hoover
, US
Jan 04, 2017 12:03 am EST
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Is there any way to sue these people from FF? My mother is currently going through this as well. She has a heart condition and if she passes because of the stress from this I will sue their ###es off ! She sent some money they told her she needed for taxes or some crap. She has ALWAYS paid her taxes I know this to be true because I was paying them for her! They sent her a letter telling her that were going to take over the payments. Well 2 years later they are forclosing in her home this June. She is 83 years old. My father built that home himself almost 60 years ago.

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dwc9
, US
Jan 11, 2017 1:11 pm EST
Replying to comment of Kel Hoover

I am dealing with this same issue; they foreclosed on my dad's home. But in the mean time they sold his home to another lender(Fannie Mae).He didn't know. My dad is 77 yrs old. I am trying to get some legal advise now because he has two weeks to leave his home where he has lived for the last thirty years. He lives in CA and the police went to put him out on 1/5/2017. They(ff) are telling me that they can't talk to me. My thing is you sold the loan. He is not in the best of health. I live in LA. This is a nightmare.

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MGT Carter
, US
Oct 25, 2016 11:28 am EDT

A very similar thing happened to me. My mother had a reverse mortgage with Financial Freedom. When she passed away I called to see how to handle the situation. Since the courts had not appointed me the executor at the time they could not provide any information. I proceeded to repair the house approx. $25k as well as pay all the other bills to include the taxes. I just knew that since I had made several recorded calls to financial freedom and they were well aware I was waiting on the courts I was ok. Well, wrong. The house went into foreclosure and we lost our inheritance. They sold the house for $150k and now it is on the market for $375.

Ofcourse, I have not been able to get the contact information for the executives at Financial Freedom. It just does not seem right that they can do this and get away with it.

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DonnaHidalgo
, US
Aug 24, 2016 2:46 pm EDT

My friend is dealing with FF wight now, Her mom passed 276, thousand and change.into FF .My friend is trying to get another RM to payoff the first one . but the interest keeps going up she is being told that she needs to pay 40, 000 cash out of pocket to get a new reverse mortgage..while she is being told she has to do all the work thats needed for the new loan. so shes paying to paint and repair this house whitch is not hers ? right

.

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TEvers
, US
Jul 28, 2016 3:18 pm EDT
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We too are dealing with a reverse mortgage serviced by Financial Freedom. They have been the most dishonest, unethical and incompetent lending company we have ever dealt with. From outright lies to incorrect fax numbers and incorrect information. Not only are we dealing with the death of a loved one but having this type of dishonesty is almost too much to bear. And HUD information services are worthless. They have admitted they do not have information regulating the processes after the homeowner dies and the reverse mortgage is ended. Requesting to speak to a FF 'supervisor' is fruitless and must be asked again and again. Have learned this servicing company is no longer taking on new loans, just servicing existing ones. Still have not received a fair indoor/outdoor market analysis from a HUD authorized home inspector. Our government needs to be regulating these dishonest lenders.

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Reviewer33743
,
Jun 14, 2016 4:54 am EDT

In 2009 I got a reverse mortgage from Financial Freedom. There inspectors came out and did a very thorough inspection of the house. They did not advise us of a major issue with the roof. They cannot deny that they saw the sagging and broken beams because they were not covered w insulation. we didn't know until we changed insurance and got canceled.

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tomco2
, US
May 25, 2016 9:07 am EDT
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My wife an I are both seventy nine years old. Financial Freedom is now trying to force foreclosure on the reverse mortgage. For at least the last three
years each time we submitted thier "Occupancy Verification" form we would receive another one within a month. The second one alway claims that they
did not receive the first. This year, within a month after submitting the first form the second one was mailed to them in their postage paid addressed envelope. Five days after mailing the second form we received a notice from Financial Freedom's Collection department informing us that the mortgage
was in foreclosure. I have requested a response and explanation three times by e-mail as listed on their notice. They have refused to respond. I am informed that because we have outlived their projected life span they are trying to prevent the mortgage from exceeding their appraised value on the property. The mortgage was for about sixty percent of their appraisal. Their appraisal was far less than the tax evaluation of the property whis is always less than the actual sale value. When the mortgage was made we were promised there wouldl be funds available for maintenance and repairs.
There has been none. We were told that the interest rate would never be more than the T-Bill rate. The mortgage charges continue to increase each
month with excessive interest accrual and handling fees. Financial Freedom has had their Insurance agency issue insurance coverage on the property
claiming that we did not have effective coverage. We have never been without effective and adequate insurance coverage. We have been notified that
we had unpaid taxes on the property. There has never been "unpaid taxes" due on the property. I am trying to find out how and who to contact with HUD.
I have also informed and copied my attorney of everything. If anyone knows who at Hud should be contacted let me know. I realize that the effort is
probably futile. Financial Freedom would not condut their business methods if anyone really cared.

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Financial Freedom Senior Funding contacts

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+1 (949) 923-3800

Website

www.financialfreedom.com

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