Reverse Mortgage Advisors

Revdex.com: I have reviewed the response made by the business in reference to complaint ID [redacted] , and have determined that this proposed action would not resolve my complaint For your reference, details of the offer I reviewed appear below I didn't expect the broker to actually offer me any resolution to my complaint Live and learn, always have an attorney reviews any documents before signing Regards, [redacted]

Our response to ID ***;
margin: 0px">We are sorry the client felt he did not receive a proper service from our company. The customer came to us after shopping with other lenders upon concluding that no other lender could offer the program with costs. We were able to provide a mortgage to the customer with no fees or financing costs of any kind. That is exactly was the client received at closing. We offered the margin that allowed us to cover all costs and minimize assets needed in order to complete the transaction. We also were able to provide the experience and guidance needed in order accommodate the special needs in relation to the gift funds provided. We also reimbursed the entire $appraisal fee. We provide mortgage related services and that is our expertise. We advised to client to seek out more appropriate legal assistance to assist with his estate and property tax planning. We pride ourselves in providing a straight forward and honest service to all our clients. We are sorry for any miscommunication
Thank you-
*** ***
Corporate Dr#Ladera Ranch, CAphn. 877-***
fax 877-***
www.reverseloanadvice.com
***@reverseloanadvice.com

Our response to ID [redacted]; We are sorry the client felt he did not receive a proper service from our company.  The customer came to us after shopping with other lenders upon concluding that no other lender could offer the program with 0 costs.  We were able to provide a mortgage to...

the customer with no fees or financing costs of any kind.  That is exactly was the client received at closing.  We offered the margin that allowed us to cover all costs and minimize assets needed in order to complete the transaction.  We also were able to provide the experience and guidance needed in order accommodate the special needs in relation to the gift funds provided.  We also reimbursed the entire $475 appraisal fee.  We provide mortgage related services and that is our expertise.  We advised to client to seek out more appropriate legal assistance to assist with his estate and property tax planning.  We pride ourselves in providing a straight forward and honest service to all our clients.  We are sorry for any miscommunication. Thank you-     [redacted]111 Corporate Dr. #235Ladera Ranch, CA. 92694phn. 877-[redacted]fax   877-[redacted]www.reverseloanadvice.com[redact...⇄

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this proposed action would not resolve my complaint.  For your reference, details of the offer I reviewed appear below.
I didn't expect the broker to actually offer me any resolution to my complaint.  Live and learn, always have an attorney reviews any documents before signing.
Regards,
[redacted]

Review: I learned of this business while searching the internet for reverse mortgage providers. The broker(s) responded to my inquiries, and kept me very well informed as to the process. They then sent me a written proposal indicating all of the fees, interest rates, margin, etc. which I approved of. On the day I was to sign the final loan documents, I noticed that these fees, rates, margins, etc. had all increased without my knowledge or notification. I immediately called the broker and his response was, "these are the rates I need to apply in order for you to get the loan". I informed him I thought that was totally unfair, and I was not happy with this new information. He had no answer to that. If I were to start the whole process all over again, it would have cost me at least $1500-$3000 in fees applied by the current lender of the reverse mortgage my mother had on the property.In addition, the broker also indicated he would assist me with filing the documents necessary to apply for a transfer of property taxes, but he also reneged on that. (the loan closed in February)My last communication with him was several weeks ago when I emailed him to ask why I haven't received the new title to the home, so I can transfer it into my living trust.Since the broker receive his commission, he has not responded to my emails.Classic "bait and switch" operation.Desired Settlement: I would like this broker to honor the original written proposal, which will decrease his commission, and is highly unlikely.

Business

Response:

Our response to ID [redacted]; We are sorry the client felt he did not receive a proper service from our company. The customer came to us after shopping with other lenders upon concluding that no other lender could offer the program with 0 costs. We were able to provide a mortgage to the customer with no fees or financing costs of any kind. That is exactly was the client received at closing. We offered the margin that allowed us to cover all costs and minimize assets needed in order to complete the transaction. We also were able to provide the experience and guidance needed in order accommodate the special needs in relation to the gift funds provided. We also reimbursed the entire $475 appraisal fee. We provide mortgage related services and that is our expertise. We advised to client to seek out more appropriate legal assistance to assist with his estate and property tax planning. We pride ourselves in providing a straight forward and honest service to all our clients. We are sorry for any miscommunication. Thank you- [redacted]111 Corporate Dr. #235Ladera Ranch, CA. 92694phn. 877-[redacted]fax 877-[redacted]www.reverseloanadvice.com[redacted]@reverseloanadvice.com

Consumer

Response:

I have reviewed the response made by the business in reference to complaint ID [redacted], and have determined that this proposed action would not resolve my complaint. For your reference, details of the offer I reviewed appear below.

I didn't expect the broker to actually offer me any resolution to my complaint. Live and learn, always have an attorney reviews any documents before signing.

Regards,