Financial Freedom reverse mortgagesneaky dealings / foreclosure

1
I Review updated:

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) <me> 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

Responses

  • Ag
    agsc Mar 11, 2010

    The same thing happened to my sister in law in Louisville KY

    1 Votes
  • Tr
    T.Rue Apr 08, 2010

    My mother had a reverse mortgage from Financial Freedom.
    She died and I bought out my siblings share and payed off the reverse mortgage.
    The bank "Riverside National Bank" provided me the loan to do this, however they overpaid the payoff amount.
    Financial Freedom wrote a refund check for the overpayment amount but to "the estate of..." my mother.
    There never was an account "the estate of..." as my sister (the executor of the estate) and mother set up a joint bank account for this eventual demise.
    Financial Freedom provided enough info. for the bank to know exactly what the amount was, but they did not provide or request anything as to what to do with possible overpayment funds.

    Since I had no prior dealings with FF and Riverside National is not associated to my mother in any way, the refund should have been made out to myself, and it was my address that FF sent the refund check to.

    But I cannot cash it due to how it is written out and the amount is not large enough to go through the trouble getting my sister to set up an account just to cash it. The joint account was closed before I received the check. FF wrote the check out to an unverified account name.

    FF first said they did it this way due HUD regulations but no one including HUD can tell me (document) what that regulation is.
    FF then said its their policy, but I have asked for documentation on both HUD regulation and FF policy. But I'm not getting it.
    FF persist with lying to me.

    So I am paying interest to the bank Riverside National passed the loan off to, Bank of America, for an amount I do not get the benefit of.

    This is really all very clear cut and FF has all the documentation they need to properly write the check out.

    I consider this matter an act of intentional theft and interest abuse by Financial Freedom.

    And if they have done this to me, how many others have they used this sort of intentional ignorance on to steal?

    The message I'm responding to suggest there are others they use this tactic with and steal a lot more.

    1 Votes
  • Bi
    Bill Zader May 03, 2010

    Yes--they are doing the same nasty stuff to a good friend of mine after she lost her husband--a distinguished viet nam vet. This company is the lowest of the low.
    Bill

    2 Votes
  • Sa
    Sad American Veteran May 02, 2011

    I used to work for Financial Freedom in one of their customer service call centers. After spending many years, off and on, working for mortgage banks I can tell you that they are far the most ruthless, evil, cut throat, bloodless, cruel, greedy organization I have ever worked for in my life. They are a subsidiary of OneWest Bank, LLC. The CEO of OneWest is a weasel named Steven Mnuchin who doesn't even have the courage to post his photo on the company intranet site.
    The CEO of Financial Freedom is an anorexic middle aged witch named Michele Minier. The two VPs at the Austin, Tx office were two women named Carol Norton and Gail Baletti. These excecutives not only preyed on senior citizens, many of them war veterans, farmers, doctors and nurses, but they paid their employees peanuts and held these employees to a strict "code of ethics" that they themselves were not held to in anyway.
    On one at the Austin location of OneWest/Financial Freedom was allowed to discuss Christmas or the Fourth of July, openly. In fact Financial Freedom, whose logo is a Texas State flag hired an entire call center in India. These "offshore" employees as they were called were assigned the sole purpose of calling the bereaving relatives of their customers and telling them to call the customer service call center in Texas. The customer service reps in Texas were then lambasted if they transferred these calls to the Foreclosure department, or the tax department, or the payoff department.
    These executives know that in today's job market they could both abuse the employees and treat them like dirt and pay them inadequate wages and get away with it given today's economy and lousy job market. Further, they new they could make the big bucks by preying on the elderly and the infirmed. When I was rutlessly fired for being a big white middle aged male, who served in the USMC, I was stripped of my health insurance and they blocked my unemployement benefits.
    Steve Mnuchin offices in Pasadena, California. Michele Minier offices in Orange County, California. Carol Norton and Gail Baletti office and live in the Austin, Texas area. These people are stereotypical of the ruthless, greedy, unscrupulous corporate executives that are destroying the greatest country on earth. May God be with any and all who have ever worked or done business with this evil organization. Amen

    2 Votes
  • Sa
    Sad American Veteran May 02, 2011

    Please excuse my typing erros but I quake with rage when I think about the evil that Steven T. Mnuchin and Michele Minier and Carol Norton and Gail Baletti have perpetrated both to employees and customers. They all should be in jail for treason as far as I am concerned.

    1 Votes
  • Sa
    Sad American Veteran May 03, 2011

    P.S. In order to save their own ###, Michele Minier and Steven T. Mnuchin are changing the name of Financial Freedom to Reverse Mortgage Company. So they can continue to profit off the misery and desperation of their customers and employees.

    1 Votes
  • Nk
    N.K> May 13, 2011

    I lost both my parents last year and my dad had a a reverse mortgage with them. They are impossible to deal with. My sister and I are the executors on the estate and we could never get anyone to return phone calls and we couldnt get statements etc. Well 6 months after his death(last July) I guess the mortgage came due and we were suppose to ask for a 3 month extension ...which we didnt know we were suppose to . Again we were misinformed after his death and originally told we had a year from the time of death and then we could file extensions. The house went into foreclosure. We were fortunate that someone made us a offer on it...but we took a huge beating on it at a 420K valued home that we had to take 280K for just to keep it out of foreclosure. They were nasty to deal with and and heartless. I understand business is business but even the payoff amount is wrong and they have our feet to the fire with no way of getting out. I have a lawyer and my lifes mission is to make sure the public knows how shady they are.

    2 Votes
  • Ff
    FFFET May 14, 2011

    I used to work at Financial Freedom, and I was laid off when they were acquired by OneWest, so you might expect me to agree with you, but I do not. I was a the "bottom of the totem pole" for my tenure at FF, not through any fault of theirs or mine, but because I was a telecommuter and it's hard to get promoted to manager in such a position.

    I worked closely with Gail Balettie on several projects and never saw a hint that she was unethical. On the contrary, I found her to be a very decent person. Those who complain about her were probably the ones who were screwing up in the first place; she was famous for having no tolerance for fools. This intolerance was the driving force behind many improvements in FF's customer service and procedures, because she wouldn't put up with institutional laziness.

    I also worked with several members of the loan servicing department, which is the department that deals with customers and their estates. I do not believe that they are unethical either. What you have to realize is that mortgage law and mortgage servicing are so complex that it's almost impossible to get every rule in writing, because the rules are always changing. This is particularly true of loans backed by HUD or Fannie Mae. With such complexity, it can be difficult to have a smooth system in place to handle unusual circumstances like check refunds to a deceased borrower's estate.

    To the person whose husband's loan came due upon his death, I would add that during my nine years at Financial Freedom, their guidelines required loan officers to explain the dangers of having a non-borrower spouse. I am saddened that you may lose your home, but didn't you expect this when your husband closed the loan? It couldn't have happened without you removing your name from the title to the loan. Did you suppose that you were guaranteed to get a loan later?

    In response to the person who accuses the company of reverse racism... I was eventually laid off from my position, not because of my gender or skin color, but because the position I was working in was eliminated as part of the gradual shut-down of FF by its new parent company. Through no fault of its own, FF didn't have a decent parent company since around 2005, but that doesn't mean that the people working there were bad people. For the most part, I found them to be decent and ethical and hard-working. I also saw lots and lots of worthy people getting laid off. Stop complaining and get a life.

    I am not saying that FF was perfect. During my tenure there, I saw lots of institutional inertia, red tape and poor policy... but it was no worse than at any other company I've worked for. I am sorry for any customer that suffered poor service from them, but I still believe that it was a good company, and I was sad to hear that it closed soon after I left.

    -1 Votes
  • Te
    tess2323 Sep 03, 2011

    This is a terrible scary company. Their dealings are "iffy" at best - at worst, in my opinion, nearly criminal. Don't let your parent or loved one get tricked into signing ANYTHING with this company. And if they do...get a GOOD attorney.

    -1 Votes
  • De
    Debi112254 Sep 28, 2011

    Never, never take a reverse mortgage from this company or any mortgage company. Reverse mortages were to help seniors but they have only created another way to make money for themselves. My mom passed away and four days later they were harrassing my family for repayment. Her house is on the market but we haven't been able to sell it. SURPRISE!!! Now after six months they are starting foreclosure proceedings. They are greedy, hearless ### and HUD should be ashamed of themselves for instituting and endorsing reverse mortgages.

    0 Votes
  • De
    Debi112254 Sep 28, 2011

    Oh, and one more thing. The fees that they charge are insane. It works nothing like a conventional mortgage. They are charging $250 a month for service fee, interest fee, insurance fee etc. And don't even get me started on the closing costs which were incorporated in the balance that is due. If my mom every knew how her children were going to be treated after her death she never would have agreed to the loan. She fell for the ### and believed their promises. LIARS...LIARS... Never take out a reverse mortgage with this company or any others. It's nothing but a shell game.

    2 Votes
  • 2b
    2bScott Oct 11, 2011

    Can lender in reverse mortgage stopped agreed payments because of needed repairs on property but keep adding payments to acct.
    Asked about 1 hour ago - Santa Rosa, CA

    Thus kept charging fees and interest that increased with the loan balance.The payments are held in a non-interest bearing account for disbursement after repairs. Then cause delays during repairs by requiring inspections(1, 2, and even 3) between different repairs. Delayed payments to the contractors and once told the contractor they were not authorizing the funds for the work completed because it wasn't a required repair. Then why did they tell him to do the work after making him submit 3 different estimates to meet their cost.After 10 months he did get paid. 6 years to complete the repairs that could be reasonably done in less than a year
    7years after payments stopped a yr after repairs were done, No payments. 71/2yrs she died, no payments but the interest and fees are still charged . It seems my mother took the loan out to fix the house up for Financial Freedom and she got 3 payments and enough stress to kill her. Her last words" I am tiered, I am tiered of it all"!

    1 Votes
  • Lr
    L Rinard Jul 30, 2012

    My mother in law was not acknowledged as a victim of fraud which Financial Freedom never verified the faxes which had an exact copy of her signature! The lender was notified of the fraud by us. Thinking they would investigate and refund the stolen money as required by law, we were forced to get a conservator-ship to speak with them. My mother in law suffers from dementia, and the power of attorney was considered invalid by them. Even though there was no money left or financial incentive we paid 6, 000 to obtain a conservator-ship. We than paid an attorney to speak to them, and provide overwhelming evidence of her being a victim of elder financial abuse. The evidence included forgeries of her signature, an admission under oath (during elder abuse restraining order hearing)he signed the fax requests, and fake statements showing omitted activity. She could not have known, and even though it was exported they refuse to comply with UCC 406 which allows for at least a 12 month refund. She is destitute living in a skilled nursing facility at the taxpayer expense and the lender Financial Freedom who never verified any of these transactions are trying to foreclose and are charging interest and fees on reported fraud:( the CFPB is now investigating our claims and complaint!! I cannot believe how unethical and immoral they behaved when they lend exclusively to the elderly:(

    0 Votes
  • Sh
    sharilovescats Aug 10, 2012

    My parents died with no will or trust and a reverse mortgage with FF. I found their paperwork on the reverse mortgage and called them immediately. I was sent paperwork which I filled out and sent back, stating I didnt know what I was going to do with the house at that time. I was trying to process the loss of my parents. Soon afterward, I received calls from people who could not speak English, nor pronounce my parents name correctly, much less my own. After speaking to an attorney I realized I did not have the funds to open probate, pay court costs, and pay attorney fees so I knew the house would have to be foreclosed on. Right at the 5 month mark, someone contacted me and said they wanted to buy the house! Since it isnt mine to sell, I called FF and asked if the potential buyer could talk to the payoff department. I was given a run around and this person actually told me they were not supposed to even talk to me without authorization...the problem is, who is supposed to give them authorization? My parents are deceased...and again, I have no money for a court order. The potential buyer finally got through to the payoff department but is now being told they can't sell the house to him. What the heck? How can they threaten foreclosure when there is a buyer willing and able? I dont understand.

    2 Votes
  • Ja
    James "ACEzWILD" G Aug 30, 2012

    Financial Freedom is a company that don't care for the elderly they only care to take the money from the elderly. My grandmother died in august of last year. Financial Freedom obtained my grandmothers signature when she was in the hospital for three months and a rehab for another two. She also found out the her daughter was dyeing of cancer. To me it seemed that they didn't care that they where making a elderly women sign paper work while she was emotionally and psychically not able to do so . They didn't care that she wasn't in her right mind when she signed the paper work. We just found out that they started the foreclosure process a year ago with out even sending us the paper work or calling us to inform us about it to see if we could pay it off or make a payment plan. The lawyers that they have working for them are non caring law breaking people that only care about filling their pockets with the green.

    1 Votes
  • Su
    superbobc Jan 02, 2013

    i am located in abilene texas and have a reverse mortgage with financial freedom. every thing that i read bad about financial freedom is true. i still am dealing with financial freedom over hail damage to my home. if you have a reverse mortgage with financial freedom and having problems contact me and lets exchange ideas. superbobc @ suddenlink.net

    1 Votes
  • Ri
    Richard323 Jan 07, 2013

    My parents have recently taken out a reverse mortgage - At first I thought it was a horrible idea since we have had the home in our family now for many generations but after speaking to my lender they explained that my parents home be mine as long as I can pay off anything that the borrow. Im calculating that the home appreciation alone should cover over the interest costs so it is essentially a free loan for them - I'm glad that they now have more money for their retirement.

    http://www.reversemortgagelendersdirect.com/oregon-reverse-mortgage/

    2 Votes
  • Ss
    ssj22 Jan 10, 2013

    If you have a bad experience with Financial Freedom please email or phone me by 1/12/13. We can talk. [email protected]
    805 402-3066

    I have been fighting FF for almost 8 years now.

    0 Votes
  • Ss
    ssj22 Feb 09, 2013

    Hello Everyone,

    If you or a loved one has or had a Financial Freedom Reverse Mortgage I would love to speak with you in confidence.

    If you or a loved on is an employee or former employee of Financial Freedom I would love to speak with you in confidence.

    Check me out on my website. Elderfinancialterrorism.com
    Email me at [email protected]
    or call me 805 402-3066
    Best Wishes,
    Sandy Jolley

    1 Votes
  • Su
    superbobc Feb 27, 2013

    Trying to locate other Texas residents that are having problems with Financial Freedom a division of One West Bank. Lets talk. Bob telephone 325 692 4964 or fax 325 692 7703 or email [email protected]

    1 Votes
  • Se
    seamus1874 Apr 26, 2013

    The dealings with this company is like swimming in Tar. Trying to conduct business in good faith is like opening a union contract with a large city. For over 18 months with two different real-estate companies calling every week and still getting the same "oh the fax was blurry" or "we only have one fax", To "heck we have a ton of fax machines here, so it will take time to find your paper work". another one is Your missing page 6 or I am sending it to my supervisor, his name, we cant tell you that" Day after day month after month, nothing but stalling. What a Con. What a sweat box. Anyone who stands up for this company, is in it with them. The price of the house at the time of death when we entered into negotiations with them, was $99, 000.00 US . 8 months later still calling them and faxing them every week, Not even getting to 1st base. Same old missing paper work, we faxed and e-mailed the paper work, until they said they have it. Then called them to make sure. Now it is 179, 000.00 and rising. and they are still stalling. Now they are going back to we dont have the paper work.we are missing... yes page 6 or 12 or 3... What the heck is going on? Frustrated and angry and not going to give in ever... feeling like the next person I talk to will tell me their name is Peggy and they will sound like a man. Please if you start trying to get your parents home, be in it for the long time and never give up. Call everyone who will help even call HUD. Flood them with paper work day after day, E-mail them, fax them, call them (calling with take at least 30 minutes to get to Peggy) They even went out 3 miles to get a comp on this house, mixed up the comp with another house, did a drive by appraisal and even said we had a back yard deck in good repair(not even a deck in the yard). Yes after 18 months, I do have stories on FF Some-days your the ball and some-days your the bat. I am really tired of being the ball.
    Still working on the house. Heck they even called my wife at work, yes they called. Asking when her fathers birthday was, when he died? They wanted her birth cert and our marriage incense . These were sent to them awhile ago(stall) So don't tell me anything good about these people unless you dump their garbage because they have to have a ton of paper to throw away. Anyone want to do a class action Law suit on them? They told us we could have the house at 95% of the apprised value. It apprised at 99, 000.00 and then they stalled, not us. someone has to hold their feet to the fire on this behavior.
    James Thomas Moore of Salinas, Ca. [email protected]

    0 Votes
  • Ar
    armymother Oct 18, 2013

    FFFET - You are totally bought and paid for by FF. There is no way your description of the people that work there and the so-called "improvements" in customer service are anything but overly bloated lies! Financial Freedom is a despicable ogranization that lie (we will call you back, or your paperwork is in the mail), never follow through on what they say they will do, never return calls, and have no regard for anything but making a profit.

    Your description also has nothing objective to offer other than you trying to dispell what a horrible company they are.

    0 Votes
  • Rm
    RMSlayer Nov 07, 2013

    As an heir to a Financial Freedom Senior Funding Corp, HECM all I can say is that all the things mentioned in most of the comments here I too experienced and most of these action are also unlawful but try and get any regulating agency to do anything about it, I think not! I finely went through my congressman' s office and did supposedly get the CFPB to start an investigation, that was 7 months ago. I contacted them the other day and they said they are still investigating my complaint and also told me that they will not tell me if or when they finish the investigation, what they did for the investigation, what there findings are from the investigation or whether there is a fine imposed or not. They did tell me that they do not cause the companies to make any kind of restitution for destroying the lives of families during the commissions of their unlawful acts, Another words I wasted my time and my tax dollars are wasted on another agency that does nothing and then to top it off Financial Freedom is rewarded with my tax dollars for doing the foreclosure in the form of the FHA Mortgage insurance.In my case they had less than $100, 000 invested and received $487, 500 that is more than a 400% return on a 5 year investment. I have a law suit going and a website about it at 4uhere.info and I am contacting Sandy as she suggests everyone should if we unite maybe there is still something we can do about it !!!

    2 Votes
  • Me
    me disgusted Jan 24, 2014

    Elder abuse at its worse. Something should be done. I also am going through this bs. with my dad. Borrowed 20, 000 and now owes 52, 000.

    0 Votes
  • Sa
    samsldy May 14, 2014

    Just hope your parents never have to go to a nursing home or assisted living. My mom has a reverse mortgage and it's been a nightmare trying to get them to even talk to me about anything even though I sent them a copy of my POA. Luckily for me she's still able to sign her name and kind of understand what's going on. They wanted a letter from her telling them it was ok to talk to me and a copy of my ID and a notarized signature from me before they'd even tell me how much she owes. That in itself is a ridiculous amount of money for the amount she originally received from them (more than double). Now that she's unable to live in the house, all they want to talk about is foreclosing on it and why isn't someone in the family buying it. I have until the end of June and I can maybe get a three month extension, but really!

    0 Votes
  • Ma
    martha wood Jun 21, 2014

    what about the servicing fee that you pay up front[ they take it out with your closing cost]. we were lucky enough to sell our house, but with all they charge you up front we are only going to get about 5000 out of the sale even tho our house sold for 154, 500 and we orginally only got 100, 000 thousand from them. we actually thought we would get a lot more, does anyone know if they get to keep the upfront servicing fees?

    1 Votes
  • Ma
    MARTIN IVANOFF Jul 19, 2014

    My mother in north versailles, pa. Heard a radio advertisement on kdka ; pittsburgh radio station. Her last sibling (Of 16 total) had passed away. He was a ww ii vet. She wanted his remains brought home to bury him along with the rest of the family in the same cemetary. The radio ad was touting this " financial freedom " outfit. This she decided was where she would get the money needed to bring home and bury her last surviving brother, who had just passed away. She only lived on social security ; only a couple hundred dollars a month ; as she had only worked in her life during wwii. That was the only time women had worked in those days as all the boys were away fighting the war. She only wanted to obtain enough money to bury him. This was her answer. She called them and someone showed up. Now you have to understand ; my mother was 75 years old, blind, almost deaf, frail as any human could be, suffering from mild dementia. I'm sure she never understood what was really going on. Duped !!! Confused into " signing " on a house that my grandmother obtained in the eary 20th century from the insurance money given her when grandpa died in a plant accident. A house that my grandmother raised, (After grandpa had passed) 13 children. This house is like a family " heirloom " !!! My mother never would have ever done this if dhe would have fully understood the circumstances. There was no way she could ever pay back the 4 or 5 thousand dollars she " borrowed " against her own house. Not on a couple hundred dollars per month in social security !!! And i was never told by her of doing this... That's how inconsequential this was to her. She just never understood. She was completely (In her frail health & handicapps) taken advantage of by some poor soul trying to make a " commission " !!! Another " fleecing " of america !!! In my opinion this company (Ff) should have contacted the heirs (Myself, sister, and brother) as we are on the will which was already in effectfor some time. To this day we still have never been contacted by this company. My mother is in a care center after falling and having to have her hip replaced. I find out through the friends of the family who " looked " after her that the house is up for a sheriff's auction as the taxes haven't been paid this year (How does one know to pay the taxes at 90 years old, blind, deaf, & suffering from dementia) so where is the ff outfit ?? Can't seem to get hold of them !!! Now i'm trying to get answers from the auditors office what a mess !!! There is plenty of blame to go around. What good is the will ??? I'm willing to pay the back taxes ; i'm willing to pay back financial freedom the money she borrowed and some interest... But not $35, 000.00 for the $4000.00 she borrowed. My mother never took a penny more... Oh one more thing ; ff went to the hose & literally kicked in the doors to take possesion... All this while my poor old mother is laying up in a care center ; without the slightest clue where she is or what is going on in this world !!!

    0 Votes
  • Jp
    jpbear Aug 04, 2014

    Financial freedom pray on my mother in law the same month her husband passed away she did the loan for 156.800 in seven yrs she passed last month and now to keep the house that was ment for her grandson we have to come up with 229, 000.00 dollars ..they took grief and use it against her and rip her off her house was nearly paid off ..they are crooks and rips off to
    say the lease

    0 Votes
  • Hi
    Hisdebtnotmine Nov 12, 2014

    My Father passed away last December and that's when I found out he had a reverse mortgage with Financial Freedom. They sent statements stating that over two hundred thousand was due, but that I could purchase the home at 95% the appraised value. They appraised it in January of 2014 at 155.000.00, I guess they didn't think I could get a loan for 95% of that, but I did. So they did another appraisal in May of 2014, just as I was ready to finalize my loan, all of a sudden, it went up to 169.000.00. Every month they would send a statement, keep leading me down the garden path and giving me an extension on a foreclosure. We disputed their 2nd appraisal, but they never told me that it was denied and their appraisal stayed at 169.000.00, When I finally got a response about the denial, they told me to re submit my offer because the 2nd appraisal would expire on 9/30/14 and a new one would be needed if I was still interested in the house. My offer was for 95% of their first appraisal and that's what I resubmitted, I was told that it wasn't good enough and needed to change my verbiage. So in Early November of this year ( 2014 ) they sent out the same appraiser and now it's 175.000.00! They act like they want to work with you, but I don't think they do. Not only was there a will, but I'm about to lose the house I have been living in for the last 20 years. My dad didn't really know what he was getting into, because he was looking into assisted living before he passed away. That act alone would have made that reverse mortgage come due, so I know he didn't understand what he was getting into. His 2nd wife was old enough to be on the reverse mortgage, but they never sent any mailings in her name. Just my deceased mother, father and my name. I love my dad and I miss him, but that debt was his. I wanted to make things right, but FF keeps making it hard for me to do that. So I'm sure they're going to move forward the foreclosure, because they keep pricing me out of the house! Their own greed is standing in the way of an equitable conclusion and after seeing all of these posts, I'm better off that they are shutting me down all together.

    0 Votes
  • Co
    Comerio Jan 22, 2015

    My mother husband, Got a reverse mortgage with Freedom and Now she find out, went her husband died she will be out for the house, because the sale person didn't put here in the mortgage, She worry because she doesn't work and there are married. We don't now what to do.

    0 Votes
  • Ha
    HATE THIS BANK Feb 25, 2015

    Worst bank in the world. They foreclosed on my mother's apartment 6 months after she passed. We gave them all the paperwork they needed, hired a lawyer and even offered to pay the loan - to no avail. We had no idea it was going into foreclosure until 2 days before. What a nightmare. There is no 'financial freedom' at Financial Freedom. This is a lying, disgusting organization. STAY AWAY.!!

    0 Votes
  • Se
    SeanD56 Apr 17, 2015

    The fees this company charges are outrageous. monthly PMI, service fees and don't get me started on the loan origination fees. Overall, the fees charged were almost as much as what was borrowed. I AGREE. STAY AWAY.

    0 Votes
  • Ma
    Marie in Spokane WA Oct 11, 2015

    My husband got a reverse mortgage in 2005, right after he got a Living Trust for his disabled son. I am trustee since my husband passed away in Jan 2015. I am also the personal representative of his estate, which was insolvent. Financial Freedom is causing me no end of frustration, so much that I cannot even grieve for my late husband. They keep changing their rules and blame it on HUD. I am going to see if AARP can sue them for me so I can stay in the house. The letter I got from FF yesterday says that I have to prove, within 90 days of my husband's death, that I have a legal right to live here. I have been dealing with them since a week after he died, and they got a copy of the trust back in 2005, as well as a copy of the deed to the house, which was transferred then into the trust. I was not old enough to be on the reverse mortgage. Like everyone here is saying, it would be easier to die than to clean up after a reverse mortgage and sometimes I think I will have a heart attack and let them foreclose. Moving out would be a real mess because my husband never got rid of anything and there are barns full of his stuff which would not even sell at a yardsale.

    1 Votes
  • To
    tomco2 May 25, 2016

    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.

    0 Votes
  • Re
    Reviewer33743 Jun 14, 2016

    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.

    0 Votes
  • Te
    TEvers Jul 28, 2016

    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.

    0 Votes
  • Do
    DonnaHidalgo Aug 24, 2016

    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


    .

    1 Votes
  • Mg
    MGT Carter Oct 25, 2016

    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.

    0 Votes
  • Ke
    Kel Hoover Jan 04, 2017

    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.

    -1 Votes
  • Dw
    dwc9 Jan 11, 2017

    @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.

    0 Votes
  • No
    Noahrobinln Aug 21, 2018

    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

    0 Votes

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