Washoe Golf Course

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and have determined that this proposed action would not resolve my
Issues.The fact that the garage was a total loss in a fire should have NEGATED the small paint repair on the garage The fire was in January I was denied access to reverse mortgage funds available to me in JULY because of repairs non completed....nonsense!!
Regards,

Reverse Mortgage Solutions (“RMS”) is an originator and servicer of reverse mortgages. The loan in question is a home equity conversion mortgage (“HECM”) more often referred to as a reverse mortgage. HECMs are backed by the *** *** *** (“***”) and as a servicer, we’re
required to follow *** program guidelinesThese guidelines require RMS to pursue a payoff or the collateral once a default condition has occurred. In this instance, the default condition was the death of the borrower *** *** on May 3, 2015.
Review of this account reveals that you were provided with the options and a payoff figure as requested within days of the borrower’s death. Through numerous subsequent communications you were kept appraised of the status of the account, including RMS’s obligation to pursue the collateral in the event a payoff through refinance or sale of the property could not be arranged. Most recently, although a foreclosure sale date was scheduled on December 18, 2015, as a courtesy, based on your request of December 15, 2015, a day postponement was granted. You should make best use of this time to refinance or sell the property as you have indicated is your intent

Dear Mr***:
Reverse Mortgage Solutions, Inc(RMS) received your Revdex.com correspondence on August 15, 2016, and provided it to me for research and responseNote that this loan is a Federal Housing Administration (FHA) insured Home Equity Conversion Mortgage (“HECM”) reverse
mortgage governed by the U.SDepartment of Housing and Urban Development (HUD)The balance on the loan becomes due and payable only if one (1) of the following situations below occurs:
• A borrower dies and the property is not the principal residence of at least one surviving borrower;
• All of a borrower’s title in the property is sold or otherwise transferred and no other borrower retains title to the property in fee simple or retains a life estate or certain leasehold interests;
• The property ceases to be the principal residence of the last surviving borrower;
• The last surviving borrower fails to occupy the property for longer than twelve consecutive months because of illness; or
• An obligation of the borrower under the security instrument is not performed, which includes:
o Failure to maintain the property
o Failure to maintain continuous hazard insurance on the property
o Failure to pay property taxes
This loan is currently in foreclosure for failure to maintain hazard insurance and pay property taxesYou were made aware of this default and were in a Repayment Plan Agreement as of January 1, Enclosed is a copy of that Repayment Plan Agreement for twenty four payments of $to total $5,244.61, with the first payment due on January 17, Below are all disbursements/repayments for property taxes and hazard insurance:
Transaction Description Disburse/Check Date Disburse Amount
Lender Placed Hazard Insurance 10/26/2009-08/13/$1,
Lender Placed Hazard Insurance 10/26/2010-01/25/$1,
Cook County Property Taxes for 01/09/$1,
Lender Placed Hazard Insurance 10/26/2011-01/17/$1,
Lender Placed Hazard Insurance Refund 02/23/2012-10/26/02/23/($1,097.02)
Partial Repayment 04/04/($456.18)
Lender Placed Hazard Insurance Refund 10/26/2011-02/23/04/30/($471.37)
Partial Repayment 05/15/($228.09)
Partial Repayment 06/13/($228.09)
Partial Repayment 07/11/($228.09)
Partial Repayment 08/09/($228.09)
Partial Repayment 09/17/($228.09)
Partial Repayment 10/15/($228.09)
Partial Repayment 11/14/($228.09)
Partial Repayment 12/12/($228.09)
Partial Repayment 01/09/($228.09)
Cook County Property Taxes for 07/31/$1,
Lender Placed Hazard Insurance 06/01/2012-08/19/$1,
Lender Placed Hazard Insurance 06/01/2013-09/12/09/26/$
Partial Repayment 01/13/($218.53)
Cook County Property Taxes for 01/31/$2,
Partial Repayment 02/13/($218.53)
Partial Repayment 03/17/($220.00)
Partial Repayment 04/11/($219.00)
Partial Repayment 05/14/($218.53)
Partial Repayment 06/16/($218.53)
Partial Repayment 07/15/($218.53)
Partial Repayment 08/13/($218.53)
Partial Repayment 09/10/($219.00)
Partial Repayment 10/09/($218.53)
Partial Repayment 11/14/($218.53)
Partial Repayment 12/10/($218.53)
Partial Repayment 01/14/($218.53)
Partial Repayment 02/12/($218.53)
Partial Repayment 03/14/($218.53)
Partial Repayment 04/14/($218.53)
Partial Repayment 06/13/($437.06)
Partial Repayment 07/09/($218.53)
Partial Repayment 09/09/($440.00)
Partial Repayment 10/01/($218.53)
Partial Repayment 01/13/($317.28)
Partial Repayment 01/13/($119.78)
Cook County 07/13/$2,
Total $4,
RMS previously addressed this same concern on March 15, Enclosed is a copy of the RMS Response dated March 15, The amount has increased since RMS disbursed an additional $2,for property taxesRMS has been in constant communication with *** *** since the loan status has changed to default on August 17, If you have any concerns with *** *** (Authorized on the loan) relaying any communication with you, please contact him for a response
You have up to the foreclosure sale date to satisfy the total amount due of $4,At this time, a foreclosure sale date has not been setIt is imperative that you stay in constant communication with RMS as to when the foreclosure sale date will be setIf you are disputing
any of the payments made by RMS, please provide written documentation stating otherwiseOnce this information is received, we will review and address accordingly
Should you have other questions about the foreclosure process, you may contact Harry Weaver or another default representative on their team during regular business hours of 8:am to 8:pm Eastern Standard Time Monday through Friday at (866) 799-
Sincerely,
Ray *** *** Executive Resolution Analyst
(866) 799-
Enclosures: Repayment Plan Agreement
RMS Response dated March 15,

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and have determined that this proposed action would not resolve my complaint
[Provide details of why you are not satisfied with this resolution.]
Regards,
I had responded in a timely manner in terms of the hecm contract RMS did not address their belligerent and aggressive attitude nor show any resolve in handling information to the people they service in a civilized and helpful manner rather choose to behave in a "collections" processor manner

Reverse Mortgage Solutions, Inc(“RMS”) received your correspondence and the accompanying complaint written by *** *** on October 26, After research and review I have provided the following response
The loan in question, is a *** *** *** *** insured Home
Equity Conversion Mortgage (“HECM”) reverse mortgageAs a consequence, all actions on behalf of RMS are governed by the guidelines of the US Department of Housing and Urban Development (“HUD”)Pursuant to the guidelines, RMS is required to order a final inspection to confirm that all repairs are complete and satisfactoryRMS gives notice to all borrowers through a Loss Draft Introduction letter, informing the borrower that prior to disbursement of any final funds, an inspection of the repairs is mandatoryOnce RMS receives confirmation of a satisfactory inspection and all inspection fees are deducted from the available loss draft funds, RMS will disburse the remaining available funds
On October 5, *** *** property was inspected and the enclosed, original inspection report determined that the repairs failed the inspection due to cosmetic damageSubsequently, RMS received a copy of the final report from the inspection performed on October 5, and it determined that the property partially passed the inspection, with minor remaing necessary repairsRMS will only disburse the entire loss draft funds when all work and proper documentation is completeAt this time RMS, upon receipt of necessary documentation, will disburse a percentage of the funds to *** *** and her contractor for the completed repairsThe repair set aside funds associated with your mortgage, cover all repairs including the remaining wall crack and vinyl damageRMS will disburse all remaing funds after the remaining repairs are complete and after all inspection fees are deductedThus, the first payment of loss draft funds should be disbursed to *** *** upon receipt of all necessary documentation
As *** *** is aware, the fully funded *** *** is a result of the projected inability of the borrower to maintain the property chargesThe amount set aside in the *** are not treated as Loan Advances nor do they bear interestAdditionally the fully funded *** may not be cancelled by the borrowerAll stated information regarding the policy and procedure of the *** can be verified in the enclosed Loan Agreement
RMS does not make monthly installments for insurance premiums, instead RMS makes one annual payment for the insurance premium of the propertyOur records show no indication that *** *** was paying monthly installments on the insurance premiumIn efforts to correct the situation, RMS contacted Liberty Mutual and arranged to pay the outstanding amount of $At this time, RMS will disburse all annual insurance premiums directly to the insurance companyIn the future, we ask that *** *** ensure that the insurance company has notification that RMS is the mortgagee and all payment request be sent directly to them
Should *** *** have questions, please have her contact the RMS Customer Service Department at (877) 774-
Sincerely,
Yladrea Marshall
Paralegal
(877) 774-
Enclosures: Home Equity Conversion Loan Agreement
Original Inspection 10/5/
Final Inspection 10/5/

[A default letter is provided here which indicates your acceptance of the business's response. If you wish, you may update it before sending it.]
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and find that this resolution would be satisfactory to me

Dear *** ***:
Reverse Mortgage Solutions, Inc(RMS) received your correspondence, provided by the Revdex.com on August 31, After review of your concerns, I have the following response
The loan in question is a *** *** *** *** insured *** *** *** *** *** reverse mortgage. As a consequence, all actions on behalf of RMS are governed by the guidelines of the ** *** ** *** *** *** *** ***Pursuant to the guidelines, RMS is required to order a final inspection to confirm that all repairs are complete and satisfactory. RMS gives notice to all borrowers through a Loss Draft Introduction letter, informing the borrower that prior to disbursement of any final funds, an inspection of the repairs is mandatory. Once RMS receives confirmation of a satisfactory inspection and all inspection fees are deducted from the available loss draft funds, RMS will disburse the remaining available funds. These guidelines were noted in the loan agreement to which you agreed and acknowledged by signature
RMS received notice of the completed inspection of the roof repairs on August 31, Subsequently, on September 1, 2015, RMS disbursed the remaining balance of your loss draft funds and mailed a payment of $4,to you and the selected contractor, *** ***, on September 4, 2015. Additionally, the payment of the $inspection fee was mailed to the *** approved inspector
Should you have questions, please contact RMS Loss Draft Administrator, *** ***, at *** ***, extension ***

*** ***
** *** ***
*** ***, ** ***
Re: Loan Number: ***
Reference Number:
***
Complaint ID: ***
Mortgagor: *** ***
Property: ** *** ***
*** ***, ** ***
Dear Ms***:
Reverse Mortgage Solutions, Inc(RMS) received your Revdex.com correspondence on July 17, 2015, and provided it to me for research and response. RMS regrets any inconvenience you suffered regarding obtaining your initial line of credit withdrawal of $2,which was requested on June 12,
RMS processed this initial request on June 18, 2015, but funds were not released until
June 19, due to a system error. Review of system records, revealed that you informed us June 30, that the check and not been received. On July 2, 2015, you requested to speak to a Supervisor about voiding the check and were transferred. Pursuant to your request, the check was voided. However, the check was not reissued at that time. Consequently, the check you received on July 14, 2015, was the original check which presumably was delayed in the mail. Since RMS had voided this check at your request, you were unable to cash it.
RMS disbursed another check for $2,on July 22, 2015, to cover your initial request. An additional check was also issued for $240.38. This includes a one day delay of processing fee of $and $for interest earned for one day. RMS had processed the check on the sixth day instead of the required five day directive given by USDepartment of Housing and Urban
Department. Both of these payments were expedited to you via *** at our expense. Records indicate the *** package was received on July 24, at 11:AM
On July 22, 2015, you requested the remaining amount of $2,from your Line of Credit. RMS has submitted the request for this payment on July 24, 2015, and the funds were been sent to you by *** ** ** ***, N.Aon July 27,
As you are aware, this loan was service released to RMS effective June 9, from *** *** ***. While transfer back to *** *** *** is not an option, RMS will ensure that future transactions will be handled in a timely manner. Again, we regret any inconvenience you have suffered.
Should you have any questions, you may contact the RMS Customer Service Department at
*** ***
Sincerely,
Ray G***
Executive Resolution Analyst
*** ***

Dear Mr***:
Reverse Mortgage Solutions, Inc(RMS) received your Revdex.com correspondence on July 22, 2016, and provided it to me for research and responseBelow are the requirements for a Deed-in-Lieu (“DIL”):
All parties with an interest in the property may need to
execute the DIL or other documents
Good Marketable title must be conveyed and
The property must be vacant and cleared of all personal items, trash and debris
All of this information was provided to you in the initial Thirty Day Demand LetterEnclosed is the first RMS Denial Letter sent on February 17, 2016, as the property was being listed for saleRMS is currently sending you a second denial letter as the title is not clear and our request for you to remove all the debris was not honored
RMS is currently moving ahead with foreclosure proceedingsPlease be advised that this is a non-recourse reverse mortgage loan and you will not be personally liable for the amounts owed
You will not be pursued for any deficiency after foreclosure or after 95% payoffs or short sales that are done in accordance with HUD guidelines and regulations
RMS has made every attempt to pursue a DIL with you and the requirements for a DIL have not been meetPlease be aware that the foreclosure process may take some time based on your state guidelines
Should you have questions, you may contact Willie Love or another default representative on their team during regular business hours of 8:am to 8:pm Eastern Standard Time Monday through Friday at (866) 799-
Sincerely,
Ray *** *** Executive Resolution Analyst
(866) 799-
Enclosure: RMS Denial Letter dated February 17,

[A default letter is provided here which indicates your acceptance of the business's response. If you wish, you may update it before sending it.]
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID ***, and find that this resolution would be satisfactory to me
Thank you for the assistance in this matter*** ***

The loan in question, is a *** *** *** *** insured *** *** *** *** *** reverse mortgageAs a consequence, all actions on behalf of RMS are governed by the guidelines of the ** *** ** *** *** *** *** (“***”)
The loan record
indicates that *** *** entered into the referenced *** reverse mortgage loan March 4, 1998. This is evidenced by the recorded Adjustable Rate First Mortgage and Adjustable Rate Second Mortgage (“Mortgages”), copies of which are enclosed.
You stated that an attorney advised you that you are not required to pay anything toward the balance of the loan. Note that the *** reverse mortgage is a non-recourse loan; therefore, *** *** is not required to pay anything toward the loan balance. Under the terms of the *** reverse mortgage the loan may only be in default for failure to occupy the property as her primary residence, for failure to maintain continuous hazard insurance coverage on the property, and for failure to pay property taxes as they become due as well as other reasons noted in the enclosed Mortgages.
As of the date of this response the loan is in the midst of a foreclosure due to non-payment of advances for hazard insurance and property taxes. The breakdown below is the same as the one provided to you in a prior response from RMS dated September 2, 2015:
Date
Amount
Description
July 19,
$1,
Hazard Insurance 5/22/to 5/22/
May 10,
-$
Partial Refund of Hazard Insurance advance from *** ** ***
September 13,
$
Hazard Insurance 4/1/to 4/1/
July 10,
-$
Refund of Hazard Insurance - Lapse from 4/1/to 9/25/
$1,
Total Default Balance
Although *** *** is not required to submit monthly mortgage payments, she must repay advances for hazard insurance for her property. She has the option to satisfy the default and reinstate the loan from foreclosure; however, she must contact the RMS Single Point of Contact listed below to discuss arrangements to pay the reinstatement amount in a lump sum. As of the date of this response a foreclosure sale date has not been set; however, the foreclosure action will continue unless she takes action.
You requested to have RMS waive the balance of the loan based on advice you received from local counsel. Since the *** reverse mortgage is a valid loan RMS must respectfully decline your request. You also asked to settle the loan for $40,000.00. A *** reverse mortgage may only be satisfied for the balance of the loan or the appraised value of the property, whichever is less. The enclosed Exterior-Only Appraisal completed on October 22, provides a value of $160,000.00. This is significantly higher than the current loan balance of $85,200.94.
Also enclosed is a copy of the *** Information Sheet. This document provides information about all options available to satisfy the loan or the default. Should you or *** *** have questions, you may contact the Single Point of Contact, Bryant S***, at (866) 799-

Revdex.com:
This letter is to inform you that Reverse Mortgage Solutions, Inchas carried out to my satisfaction the resolution it proposed for my complaint, filed on 2/6/and assigned ID ***See Below
I am closing this simply because there has been no contact from this
business to explain the actions taken and why and I resolved the issue by paying the amount in full instead of using the payment plan set up by them I think it may have been the actions of just one employee named Mentrell ***, who was the person making the inappropriate contact to my daughter and who I had talked with I have the name of another contact at the business and will direct all of my need to contact to her That should resolve the issue to my satisfaction.Thank You for your response to my issue and I will file another complaint if this turns out to be a reoccurring pattern with this business
Regards,*** ***

Revdex.com:
This letter is to inform you that Reverse Mortgage Solutions, Inchas carried out to my satisfaction the resolution it proposed for my complaint, filed on 10/26/2:25:PM and assigned ID ***
Regards,

As noted in the inquiry the amount paid for the referenced property at foreclosure auction on March 3, 2015 was more than the total debt owed.  The total debt was $153,348.95 and the sale price was $174,000.00 with an overpayment of $20,651.05. 
 
The foreclosure auction was...

administered by foreclosure counsel for RMS, [redacted].  As part of their administration, [redacted] received the funds from the third-party buyer.  [redacted] then issued payment to RMS in the amount of $153,348.95.  As an officer of the court, [redacted] took the remaining funds in the amount of $20,651.05 and provided them for distribution to other lien holders, tax authorities, or any other entity that had a claim to property sale proceeds.  Any funds that remain are subject to be paid to the Estate of [redacted]. 
  
RMS is not a party to the distribution of those funds in excess of the total debt since RMS has no claim to those funds.  For information about the distribution of those funds, Ms. [redacted] may contact [redacted] directly by telephone at [redacted], by fax at [redacted], or by mail or in person at the following address:
 
[redacted]

Revdex.com:This company HAS NOT AT ALL kept in contact with us EVER ! NOR did they EVER SEND the information and oayments made to US as they did here. NOT TO MENTION 100? lying telling you there waz ANY agreement made to repay. Because when I asked I WAS TOLD , NOT an option. I alsk have asked fkr YEARS to.speak to someone other than and in a higher position than the default department which I was told no one exists ! And I waz NOT TOLD about a repayment before the foreclosure sale , which they obviously are again playing a game because my mother is NOT legally responsible for her signature , and has nkt been for 4 years. Thats stated in the power of attorney they been sent , and faxed over 4 times. This company is telling ALL B.SAND I WILL NOT ALLOW THIER GAME to continue. I DEMAND PROOF OFwhatbTHEY claim they agreed to az repayment options ! Including the recorded call they refuse ANY repayment !! 
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.  
[Provide details of why you are not satisfied with this resolution.]
Regards,

Dear Mr. [redacted]:
 
Reverse Mortgage Solutions, Inc. (RMS) received your correspondence, provided by the Revdex.com, on September 4, 2015 and provided it to me for research and response.
 
Pursuant to US Department of Housing and Urban Development (HUD) guidelines, borrowers...

are required to pay all property charges including property taxes and hazard insurance.  In the event the borrower does not pay property charges, RMS will advance funds to pay those charges and requires repayment of those advances.  On August 28, 2015, RMS received notification from [redacted] that your hazard insurance policy had been cancelled.  Due to this cancellation, RMS submitted a request for our third party vendor to obtain lender placed hazard insurance.
 
This amount was pending and was placed on the September 2, 2015 Payoff Statement as it was good through September 30, 2015.  The loan was paid in full on September 4, 2015 with an effective date of September 3, 2015.  At that time, RMS voided the payment for hazard insurance.  Pending review from our third party vendor, they will determine if hazard insurance was necessary for the gap of coverage from August 28, 2015 to September 3, 2015.  If they determine hazard insurance was not needed, the full amount will be refunded.  Once we receive verification from our third party vendor if any funds were required for hazard insurance, we will proceed with the processing of any overages.   
 
Per HUD guidelines, RMS is required to process overages within thirty calendar days of the payoff date.  A request was placed on this loan for any overage refunds to be expedited and a refund amount of $1,452.91, which includes a refund of $931.00 for hazard insurance is being sent to you under separate cover as of the date of this letter. 
 
Please be aware that RMS would not have requested hazard insurance if your insurance agent would not have informed us of the cancellation of hazard insurance on this property.  Should you have questions, you may contact the RMS Customer Service Department at [redacted]
 
Sincerely,
 
 
Ray G[redacted]
Executive Resolution Analyst
[redacted]

[A default letter is provided here which indicates your acceptance of the business's response.  If you wish, you may update it before sending it.]
Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted] and find that this resolution would be satisfactory to me.  I finally did get my money or at least most of it.  The check was made out to me and the roofing company even though RMS had a copy of the receipt showing I had paid the roofing company in full so I had to make arrangements to meet the owner at his bank in order to get the check cashed.  There was absolutely no need for this except to make things difficult for me.

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.  This company has ruled and regulations that change on a whim. My first question  to Ms. PROBST was:  is there a time limit for the repairs to be completed?  Her response was "not at all" instead of the proper answer which would have been "none at all except please note that you may not borrow against your account until the building is rebuilt"  Each statement I receive shows a positive balance available.  It has not been weather friendly to have excavating equipment on the property.  As we have minimal funds to work wit we need to proceed with financial discretion.  I do not accept this response.
Regards,
[redacted]

Dear Ms. [redacted]:
Reverse Mortgage Solutions, Inc. (RMS) received your Revdex.com correspondence on August 29, 2016, and provided it to me for research and response. RMS was unable to update your Successor Trustee identification as the first three documents received were the Trust...

Certification and a copy of the actual Trust was needed. Once RMS received the Trust signed by [redacted] [redacted] we updated our system to reflect you as Successor Trustee.
Note that this loan is a Federal Housing Administration (FHA) insured Home Equity Conversion Mortgage (“HECM”) reverse mortgage governed by the U.S. Department of Housing and Urban Development (HUD). The loan became due and payable upon the death of [redacted] [redacted] on April 25, 2016. Enclosed is a copy of the Condolence Letter sent to the Estate of [redacted] [redacted] with information to satisfy the loan dated May 25, 2016. Below is the Creditor’s Rights listed on the Condolence Letter:
If the Loan is not satisfied pursuant to one of the options set forth herein above under Options to Satisfy the Loan within thirty days from the date of this notice, we will begin the process of foreclosure of the Property.
HUD guidelines require RMS to file first legal prior to the sixth month from the death date. In order to meet first legal, the loan is referred to foreclosure counsel three months prior to the six month deadline. As stated above, RMS may begin foreclosure proceedings after thirty days of notification of death. Below is [redacted] Acquisition Sale of the Property (d) Initiation of foreclosure:
(1) The mortgagee shall commence foreclosure of the mortgage within six months of giving notice to the mortgagor that the mortgage is due and payable, or six months from the date of the mortgagor's death if applicable, or within such additional time as may be approved by the Secretary.
If you need an extension to sell the property, please provide a Listing Agreement prior to RMS filing first legal. Once the Listing Agreement is received, we will forward to HUD for approval of a possible ninety day extension. RMS is currently in the process of requesting another Payoff Statement as the one previously forwarded to you expires on September 9, 2016. On
August 29, 2016, Ana C[redacted] (Default Supervisor) spoke with you and was going to send you a payoff breakdown and you informed her that you would not close until September 20, 2016. Ms. C[redacted] submitted another pay off request at that time. Below is a breakdown of fees on the Payoff Statement dated August 22, 2016:
Transaction Description [redacted] [redacted] Amount
Corporate Advance
Property Inspection 05/25/2016 $20.00
Property Inspection 06/22/2016 $20.00
Appraisal 06/28/2016 $400.00
Property Inspection 07/18/2016 $20.00
Property Inspection 08/17/2016 $20.00
Total $480.00
Outstanding Fees
Attorney Fees $2,216.25
Property Preservation $40.00
Total $2,256.25
It is imperative that you stay in constant communication with RMS as to when the foreclosure sale date is set. You have up to that time to satisfy the loan. At this time, a foreclosure sale date has not been set. Should you have further questions, you may contact Ana C[redacted] or another default representative on their team during regular business hours of 8:00 am to 8:00 pm Eastern Standard Time Monday through Friday at (866) 799-7724.
Sincerely,

Ray G[redacted] Executive Resolution Analyst
(866) 799-7724
Enclosure: Condolence Letter

Dear Ms. [redacted]:
Reverse Mortgage Solutions, Inc. (RMS) received your Revdex.com correspondence on July 13, 2016, and provided it to me for research and response. Note that this loan is a Federal Housing Administration (FHA) insured Home Equity Conversion Mortgage (“HECM”) reverse...

mortgage governed by the U.S. Department of Housing and Urban Development (HUD). The balance on the loan becomes due and payable only if one (1) of the following situations below occurs:
• A borrower dies and the property is not the principal residence of at least one surviving borrower;
• All of a borrower’s title in the property is sold or otherwise transferred and no other borrower retains title to the property in fee simple or retains a life estate or certain leasehold interests;
• The property ceases to be the principal residence of the last surviving borrower;
• The last surviving borrower fails to occupy the property for longer than twelve consecutive months because of illness; or
• An obligation of the borrower under the security instrument is not performed, which includes:
o Failure to maintain the property
o Failure to maintain continuous hazard insurance on the property
o Failure to pay property taxes

Below is a breakdown of all disbursements/repayments for property taxes and lender place hazard insurance at RMS:
Transaction Description Disburse/Check Date Disburse Amount
Lender Place Hazard Insurance 05/20/2013-14 08/29/2013 $1,275.00
Lender Place Hazard Insurance Refund 05/20/2013-14 09/27/2013 ($1,275.00)
Property Taxes Baltimore City 2013-14 04/28/2014 $1,155.42
Baltimore City Duplicate Bill Fee 04/29/2014 $3.00
Lender Place Hazard Insurance 05/20/2014-15 05/23/2014 $313.00
Partial Repayment 10/09/2014 ($82.00)
Partial Repayment 11/07/2014 ($82.00)
Partial Repayment 12/05/2014 ($81.00)
2014 Property Tax Attorney Fees 01/06/2015 $814.80
2014 Property Tax Attorney Fees Refund 01/08/2015 ($814.80)
Property Taxes Baltimore City 2014 01/21/2015 $5,447.57
2014 Property Tax Settlement Attorney Fee 01/21/2015 $2,624.80
Property Taxes Baltimore City Refund 03/23/2015 ($1,175.56)
Lender Place Hazard Insurance 03/20/2015-05/20/2015 03/24/2015 ($52.31)
Partial Repayment 04/21/2015 ($340.00)
Partial Repayment 05/11/2015 ($337.00)
Partial Repayment 06/15/2015 ($335.00)
Partial Repayment 06/18/2015 ($10.00)
Partial Repayment 07/21/2015 ($337.00)
Partial Repayment 09/17/2015 ($340.00)
Lender Place Hazard Insurance 09/10/2015-16 11/18/2015 $340.00
Partial Repayment 12/10/2015 ($340.00)
Refund 02/22/2016 ($191.37)
Refund 06/17/2016 ($148.63)
Lender Place Hazard Insurance 04/15/2016 06/20/2016 $352.00
Total $6,383.92
On April 23, 2015, you entered into a Repayment Plan Agreement (enclosed) with RMS for twenty four consecutive payments of $336.29 to total $8,070.92, with the first payment being due on April 25, 2015. As verified above, you did not make a payment in August, October, and November of 2015. Enclosed is the RMS Letter dated December 1, 2015, which indicated that the Repayment Plan Agreement you had entered into had been cancelled. Per HUD guidelines,
once a repayment plan is broken due to non-payment or there are disbursements for property taxes/hazard insurance occur, no future repayment plans may be entered into. At this time the total amount of $6,383.92 is due to reinstate the loan from foreclosure. You have up to the foreclosure sale date to satisfy the default amount of $6,383.92. A foreclosure sale date has not been set, so it is imperative that you stay in constant communication with RMS
The failure of payments was not due to the address change as the missing payments were prior to the December 7, 2015 move date from [redacted] to [redacted].
Should you have questions, you may contact Willie [redacted] or another default representative on their team during regular business hours of 8:00 am to 8:00 pm Eastern Standard Time Monday through Friday at (866) 799-7724.
Sincerely,
Ray [redacted]
Sr. Executive Resolution Analyst
(866) 799-7724
Enclosures: Repayment Plan Agreement
RMS Letter dated December 1, 2015