Novadreverse mortgage servicing

C Aug 05, 2018

April 2016 hail damaged the roof of our home. We have a reverse mortgage.
November 2017 $90, 000. in insurance proceeds were paid to NOVAD.
June 2018 work to the home was completed and NOVAD was notified and payment was requested to pay the contractor. NOVAD's response was and still is today that they hold "NO FUNDS" for the repairs.
July 2018 we had a three way conversation with NOVAD and a local HUD reverse mortgage councilor and NOVAD continues to deny they hold any funds. Yet we have sent copies of the cashed insurance checks.
We need to get this resolved.

Post your comment