Rock & Roll Drywall

I filed a complaint yesterday, and everything I said in it was true, but about hours later, my money finally came in, so I am now modifying my complaint in that particular part of the complaintEverything else remains true.I don't require a settlement now because, although I did not like the way they did it or the time it took, they did finally send me the money

1) Hud is guided by the location of the property you are considering servicingI was told by two of your agents that an apraiser would be selected who would be knowledgeable of property values iIn this area and do a comparative studyThe apraiser came from the city of Bangor and used properties in far away towns to reach an aprasialThere was no coralation between my property and those it was compared withfor valueThe Liberty is a large profesional company dealing with such mtters and should have seen to it that an appraisser did an appropiate job not jusst that it was unrelated to the owner of the property being apraisedHowever, The Liberty didn’t care, I was paying nine hudred dollars ($900.00) which means nothing to The Liberty but to us it is a part of helping us with medication and living indoors or eating regularly.2)This statement truely upsets me becasue I was toldthis was the standard fee and there was little chance of getting an apprasial for lessI still say we have excellent real estate and land invesstment people in our area who make excellent decisions on property values every hour of the dayWhy get some one from two hundred miles away and in an entirely different kind of an eco-system.3) I objected to the high cosst of the apraisal through the only contact I had with the company The LibertyI knew nothing about ***The Liberty had arranged the appraisal and I was told that it was very hard to get and we had no choiceIt was the fee and the process would be interuptedI was also told that I would getting the fee back when I received the money for the Reverse Mortgage which we did not get becasue of the appraisalThe only dealings we had with the appraisal company was to pay the nine hundred dollars all other contact was through The LibertyWe trusted the people of Liberty and therefore were at the mercy of The Liberty.4)At the suggestion of Mr [redacted] , Senior Council I did contact the appraisal company after I got thier name and address from people at The LibertyMy first atempt at trying to find them on the Internet I realized they do much more than appraise propeerty, and I also noted they had complaints [redacted] against them the day I looked at thier siteI have never received the courtsey of a reply to my attempts to contact them.5)Yes, we were given the rules in a very formal fashion and in the first few minutes of our conversation with the representative to whom we talkedAt that early point in our relationship with the people of The Liberty, we didn’t feel we knew anyone, and I was very concerned about paying possibly $to $for an apprasialNo one told us it could be more, but they agreed to let me send them pictures and facts about the house, and they promised to call the ***s Town Hall, Bank and other places to get information on our propertyAfter examining the photos and making the calls they all assured us there could never be a problem and that we would get much more than what we were asking for the Reverse MortgageThat is the reason they expressed shock at the apprasial submitted by *** When things were good for us, I refused to listen to those who complained that the little people didn’t stand a chance against the big companies of the USASince my accident and subsequently loosing two thirds of my income and most of our lifie savings, I began to understandWhen a few hundred dollars makes a difference and one is powerless over a large concern, like The Liberty, that has the advantage it is easy to develop this attitude of ‘What is the sense of trying?’ Thanks you for listening

Dear Ms ***: I am writing to you in response toa recent complaint submitted to the Revdex.com regarding your loan application with LibertyHome Equity Solutions, Inc(“Liberty”). In your complaint you state that you were not aware of the incomerequirements for the Home Equity Conversion
Mortgage (“HECM”) for purchase thatyou were applying for and then withdrew your application. The income requirements are in place to showwhether or not a potential borrower will be able to maintain the prospectiveproperty along with any retained properties. Due to the sale of your current residence not taking place this income requirement would have come into effectfor this HECM for purchase transaction. This was listed as one of the conditions to be satisfied on theprequalification letter you mentioned in your complaint. Item number five of conditions to be fullysatisfied on the prequalification letter states: ”You must provide us with evidence of sufficient income to maintain the costsassociated with the new home including the mortgage payment, taxes and insuranceof any retained properties” Additionally, you state that youpaid out of pocket for an appraisal fee of $450. Our records show that you received anAppraisal Hardship Waiver which effectively waived the upfront appraisal fee of$300. As for the earnest money depositthat was provided to the seller’s escrow company per the terms of the purchase contract you entered with the sellers; Liberty has no control over those funds and did not provide any guidance for the release of those funds. I would like to thank you for selecting Liberty for your potential home purchase and I do apologize if therewas any confusion over the loan requirements. Unfortunately, Liberty will not be able to issue a reimbursement for the loss of earnest money deposit, counseling fee or inspection fee. The income requirement was addressed with you per the conditions listed on the prequalification letter. Also, it may be important to note that thisloan application was not declined by Liberty and it was actually withdrawn by you. If you have any additional information pertaining to your complaint or would like further clarification onanything please feel free to contact me directly at *** ***. Sincerely, *** ***Risk Mitigation Specialist

The borrower closed her reverse mortgage loan on June 11, 2009; this was not a small loan with a purpose to only pay for small repairs. The loan initially paid off a prior lien with *** ** *** which totalled $117,and is evidenced by the enclosed Final HUD-Settlement Statement as well as a Payoff from *** ** ***. The borrower has been in litigation with Liberty Home Equity Solutions, Incsince over this foreclosure matter. Since the filing of this matter with the Chancery Division of Cook County, IL; the borrower has appeared in court where she would have been able to review or dispute any facts in this foreclosure matter

Liberty has sent a full explanation to the borrower regarding the origination of the loan and the loan's current status. The loan in question was originated in which included paying off a prior mortgage. The $7,mentioned in the complaint was not part of the initial loan balance;
this amount reflects funds that were advanced by Liberty to pay for outstanding property charges such as tax and insurance. This is amount remains unpaid and has caused the loan to go into a default status as required on a Home Equity Conversion Mortgage. Liberty tries to work with all borrowers when events such as this occur, however we are required to follow specific servicing guidelines on FHA insured loans, especially when there are funds advanced to pay for delinquent property charges

I am rejecting this response because:I am rejecting this because my husband used his VA Loan to buy this houseThe loan I took out was for my floors and that was not that muchI took one loan and never used it againSo where do you get that small loan to a huge amountI am years old and I am no foolThe loan companies switched twice from gentile to liberty and now you are trying to take my house

1)  Hud is guided by the location of the property you are considering servicing. I was told by two of your agents that an apraiser would be selected who would be knowledgeable of property values iIn this area and do a comparative study. The apraiser came from the city of Bangor and used properties in far away towns to reach an aprasial. There was no coralation between my property and those it was compared withfor value. The Liberty is a large profesional company dealing with such mtters and should have seen to it that an appraisser did an appropiate job not jusst that it was unrelated to the owner of the property being apraised. However, The Liberty didn’t care, I was paying nine hudred dollars ($900.00) which means nothing to The Liberty but to us it is a part of helping us with medication and living indoors or eating regularly.2)This statement truely upsets me becasue I was toldthis was the standard fee and there was little chance of getting an apprasial for less. I still say we have excellent real estate and land invesstment people in our area who make excellent decisions on property values every hour of the day. Why get some one from two hundred miles away and in an entirely different kind of an eco-system.3) I objected to the high cosst of the apraisal through the only contact I had with the company The Liberty. I knew nothing about [redacted]. The Liberty had arranged the appraisal and I was told that it was very hard to get and we had no choice. It was the fee and the process would be interupted. I was also told that I would getting the fee back when I received the money for the Reverse Mortgage which we did not get becasue of the appraisal. The only dealings we had with the appraisal company was to pay the nine hundred dollars all other contact was through The Liberty. We trusted the people of Liberty and therefore were at the mercy of The Liberty.4)At the suggestion of Mr. [redacted], Senior Council I did contact the appraisal company after I got thier name and address from people at The Liberty. My first atempt at trying to find them on the Internet I realized they do much more than appraise propeerty, and I also noted they had 82 complaints [redacted]   against them the day I looked at thier site. I have never received  the courtsey of a reply to my attempts to contact them.5)Yes, we were given the rules in a very formal fashion and in the first few minutes of our conversation with the representative to whom we talked. At that early point in our relationship with the people of The Liberty, we didn’t feel we knew anyone, and I was very concerned about paying possibly $350 to $400 for an apprasial. No one told us it could be more, but they agreed to let me send them pictures and facts about the house, and they promised to call the [redacted]s Town Hall, Bank and other places to get information on our property. After examining the photos and making the calls they all assured us there could never be a problem and that we would get much more than what we were asking for the Reverse Mortgage. That is the reason they expressed shock at the apprasial submitted by [redacted].    When things were good for us, I refused to listen to those who complained that the little people didn’t stand a chance against the big companies  of the USA. Since my accident and  subsequently loosing two thirds of my income and most of our lifie savings, I began to understand. When a few hundred dollars makes a difference and one is powerless over a large concern, like The Liberty, that has the advantage it is easy to develop this attitude of ‘What is the sense of trying?’ Thanks you for listening.

Please accept the following as the response of Liberty Home Equity Solutions, Inc. (“Liberty”) to Mr. [redacted]’s further-expressed concerns.  I address his concerns in the order raised below. 1) Liberty is not agreeing to refund the appraisal cost because it is false to state that “Liberty Home Equity Solutions Inc had full control of the company that would appraise [the] home”.  The opposite is true: as required by HUD rules, Liberty had no control whatsoever over the appraiser or even the selection of the appraiser.  As required by HUD, an appraisal management company (“[redacted]”) will randomly select an appraiser to perform the appraisal so as to ensure independence and impartiality by the appraiser; the lender, in this case Liberty, is excluded from the process so as to preclude any possibility that the lender might seek to influence the value opinion of the appraiser. 2) The $900 cost of the appraisal is somewhat higher than the average that we see, but again this cost was set by the appraiser (or possibly the [redacted]) independently of Liberty.  It makes sense that the cost would be higher given the remote location of the property, but any objection to the charge should be directed to the [redacted] and the appraiser. 3) Liberty always informs applicants that they will need to be approved for the loan, which is not guaranteed.  All documentation here supports that Liberty did so in this case, as well.  Again, Liberty cannot speak to the supposedly “hateful attitude” of the appraiser because Liberty, by law, had nothing to do with the selection of the appraiser or the performance of the appraisal.  Liberty Loan Originator Mr. [redacted] may have been surprised or “shocked” that the appraisal value came back lower than the earlier estimates, but as noted below the [redacted]s were informed that only the appraisal would determine the value on which Liberty is permitted to lend under HUD rules.  Whether the appraisal was “unfair” or “inaccurate” is again a matter to address with the appraiser and/or the [redacted]. 4) As noted above, the [redacted] and appraiser were required by law to operate independently of Liberty and accordingly Mr. [redacted] should engage these entities with his concerns regarding the appraisal. In sum, while Liberty certainly regrets that Mr. and Mrs. [redacted] were not satisfied with the appraisal aspect of their loan application process, Liberty informed the [redacted]s correctly that the appraisal would determine the home value for purposes of loan underwriting and that the [redacted]s would need to pay for the appraisal.  Likewise, Liberty properly followed HUD rules requiring Liberty not to be involved with the appraisal in any way.  For the foregoing reasons, Liberty respectfully declines to interject between the borrower and the [redacted] or appraiser and again suggests that Mr. and Mrs. [redacted] direct their concerns, including any request for a refund, to the [redacted] and/or appraiser, which operated independently of Liberty and collected the fee for their services. Thank you. Sincerely, [redacted]Senior Counsel Direct: [redacted]Email: [redacted]

Dear Revdex.com and Mr. [redacted]:Liberty Home Equity Solutions, Inc. appreciates the opportunity to respond to the concerns of Mr. and Mrs. [redacted] regarding their reverse mortgage application experience.  The concerns raised here through the Revdex.com are substantially the same as those raised by Mr. and Mrs....

[redacted] previously through the California Dept. of Justice.  Attached is the response that Liberty already has provided.  Given that the complaints raised here again largely regard the appraisal, I again suggest that Mr. and Mrs. [redacted] consider raising such concerns with the appraiser and/or appraisal management company, which both operate independently of lenders such as Liberty.Thank you.Sincerely,[redacted]Senior CounselLiberty Home Equity Solutions, Inc.

I filed a complaint yesterday, and everything I said in it was true, but about 3 hours later, my money finally came in, so I am now modifying my complaint in that particular part of the complaint. Everything else remains true.I don't require a settlement now because, although I did not like the way...

they did it or the time it took, they did finally send me the money.