Pitching reverse mortgages

I also wondered, for which one of his mansions was he seeking a reverse mortgage? I like him as an actor (even though he looks more like Teddy Roosevelt every year)! But he is definitely the wrong spokesperson. Why not hire a plain ordinary senior citizen who really needs the money!?

Reverse mortgages are a complete scam. My mother in law was targeted by AAG. She got tons of junk in the mail & phone calls. Fortunately, she is a sharp lady & filed a complaint. They stopped calling & mailing.

I lost a lot of respect for Selleck when he started shilling for AIG.

I agree. I can't figure out why he'd feel the need to endorse this particular product. He can't be that hard up for money.

I agree. I only know him from the movies and TV shows, but I am so disappointed. We had a terrible experience with reverse mortgages. They are the worst!!!!!!!! I have written the BBB and there are 15 complaints. I would love for him to read these comments and reconsider. He can't need the money. I was originally told by the loan salesman that I would have a year to sell the house after my aunt’s death. Now I was being hit with a barrage of foreclosure notices on my aunt’s door, less than two weeks after her death. The harassment began!

At no time during the mortgage counseling or contract process I was told that the house had to be listed for sale within 45 days of death. This was a 50 year-old home. The house was well maintained, but realistically repairs and upgrades had to be done to get the best price for the home for everyone involved.

January 28, 2016: upon receipt of the certified letter, I called and spoke with Mr. Hadnett. He told me he needed proof that I was the executor or representative of the estate. He informed me that before March 20th I needed a letter of intent and a real estate listing before any extension would be given from January 15, 2016 (date of death) and March 20th to stop foreclosure. He stated that once foreclosure started it could not be stopped. However, Generation Mortgage repayment policy states: “As long as the estate is working to satisfy the debt and no fraud or breach of contract has occurred, Generation Mortgage will work with you to extend the repayment timeline to six (6) months after the loan becomes due and payable, however, Generation Mortgage will begin foreclosure 30 days after the date of the Due and Payable Letter if there is no response.”

“After six months, Generation Mortgage Company will require that the estate send a written request for an extension of ninety (90 days). It is possible for the estate to be approved for two (2) extensions. After the maximum extensions, Generation Mortgage is required to begin foreclosure proceedings.”

We were verbally told that we had one (1) year to pay off loan after she passed or left the residence. I asked if someone could buy the house or pay of the loan. I was told that “the company does not care how they get their repayment.”

Mr. Hadnett told me he checked with a supervisor and he said “not to worry about listing, just get the request for extension in as soon as I can.” Not the case at all!

The harassment accelerated.

The letters and the notices on the doorknob of the property came every other week. Even though I had gone to Probate and filed the estate and received a Court sealed Letter of Administration on February 5, 2016; they would not talk to me or assist me in any way.

February 1, 2016 – I wrote them a letter requesting extensions as per terms of the loan. I included all the probate paperwork and a copy of my aunt’s will.

February 5, 2016 - I went to Probate Court with consent from Executor and Alternative Executors. I received my letters of administration from the Court.
Champion would not accept this documentation even with Court seal and would not talk to me.

February 18, 2016 - I received another letter stating that my extension from January 15 to March 20 was denied because it did not contain supporting documents, listing agreement, Sales contract, and proof of financing. I tried to explain this to Brian Powell. Remember they would not talk to me. How would I have listing agreement, sales contract, or proof of financing when I had to repair and upgrade a 50 year-old house to make the house attractive to a buyer?

February 23, 2016 - I wrote them a letter informing them that the house was now on the market, and requesting extensions according to terms of the loan agreement. This would turn out to be a direct sabotage on the property because it had to be listed 90 days to early with ongoing repairs noted and was no way near showing ability which caused a question in potential buyers minds “why was this house on the market so long with no buyers?

February 24, 2016 - Received another letter from Champion threating foreclosure on the property. They still refused to talk to me.

February 24, 2016 – I faxed to 866-621-1036 listing, copy of Emma Roberts death certificate, last will and testament and consent for Cindy Proctor to be personal representative for this account.

February 24, 2016 I wrote them a letter
Dear Sir/Madam:
This is in response to your latest threat to foreclose. I completely understand that you are after the house. When this is finally over I am filing with the Better Business Bureau and any commercial that comes on regarding reverse mortgages I am going to make sure consumers know what you all do to the relatives after the last owner passes. I had an attorney check this out before I advised my elderly 87 year old loved one battling cancer; and was told that I had a year to sell the house. That was a lie! I was never told to make sure that I had legal authority to proceed after her death; another lie.
I am faxing the listing, copy of her death certificate, last will and testament, and consent for Cindy Proctor to be personal representative for this account. How would I have a sales contract within a month and a half are you completely insane or just inconsiderate. As I said I know that you want the house. I get that. But I will go to hell and back before I let that happen.
Your letter states that my request is denied for an extension. I am not asking for an extension until the June timeline. I was giving you my intention as I was asked to do. Is that another lie?
I was informed that I had until March 20th to file my listing and then file extensions if needed to finish renovations and sell, was that a lie also?
My intention is to request a
1. First extension for June 15th thru July 5th 2016;
2. Second extension for September 13th thru October 3rd 2016.
My understanding is that the house must be sold by December 12th, 2016 to prevent foreclosure. Are these lies also?
Contact information: Cindy Proctor

February 24, 2016 -- Then the local doorknob notices began. Someone locally began hanging Champion Reverse Mortgage Servicing Department URGENT PLEASE CONTACT OUR OFFICE 855-683-3095 (No local number from Nationstar (debt collector). Wouldn’t you wonder if you were a potential buyer if the title was cleared? Was there going to be an issue buying this home?

February 24, 2016 – My aunt’s son and executor of the estate, Randall, called the 855-683-3095 and spoke to Rufus. Randall was told that the mortgage company could not talk to me or verify he received anything because he needed the consent forms indicating I was the personal representative for the estate and handling the affairs of the estate. He said that they would not accept the Court’s document that stated this. I told them that they needed to get themselves together. I told him I couldn’t have gotten the court document without the consent forms. That did not matter. He stated that I had to fax the consent forms. So I went again to Staples and faxed into 866-621-1036 the consent forms.

February 26, 2016 – Because I was getting nowhere, Randall stepped in to try and resolve this outrageous situation and stop foreclosure. Randall called Champion Mortgage and spoke to Rene, operator #4263321. He confirmed that Randall was the executor. He confirmed for me that they received the fax we sent them on Feb 24 showing evidence that the house is listed for sale. Randall asked that they cease and desist posting or sending foreclosure notices to the house or in the mail. He was told by Rene that they would do so. He confirmed that we have 90 days to sell the house and that we can then request an extension if the house is not sold. Randall asked him to send confirmation of all the things we discussed in writing via mail.
We received nothing.

February 27, 2016 – Due to the fact that I don’t have any trust in Champion Mortgage Company, I called to confirm that listing was received, extension was granted until I need to file first extension between June 15 and July 5. I was now informed that I would need an updated listing to go with the first extension. Of course, I was not told this previously.

February 29, 2016 – I received a letter from Champion stating that they were looking into my concerns regarding the account.

March 2, 2016 – I received a letter approving my request to update the account to indicate that I was the personal representative of the estate.

March 2, 2016 – I received a letter from Champion which summarized the account status. The letter confirmed that the real estate listing was received and that the extension request was granted from March 20 until the first extension is due between June 15, 2016 and July 5, 2016. They stated that “Overall, no errors were identified during the course of our investigation. You have the right to access the documents relied upon in this investigation. Copies of the documents used in the investigation are included with this letter for your records.”

I guess harassment doesn’t fall under an error. But the grief, frustration and harassment can’t really be put to words. I just want any senior citizens considering a reverse mortgage to know how much hassle and heartache this will bring their heirs.

March 3, 2016 - Randall called and got James. He told him we'd talked to Rene on February 26 and Rene confirmed that Randall was in their records as the executor, and that Champion had received the realtor documents, etc. James told Randall that he wasn't in their records. And that they could only talk to me (Cindy). Are you getting this? Now they will only talk to me! At this point only little over two months has passed. Randall asked for James’ operator number and he refused to give it. He asked to speak to a supervisor and was connected to Ronnie supervisor #8949126. Randall explained the Feb 26 call and what I was told today. He said he would make sure my name was added to their records. He confirmed that they had received the evidence of listing the property for sale. He said they had it. Randall confirmed that we can file our first extension June 15, then second on Sept 13. And that we had until Dec. 12 to sell the house. Randall asked him why we're still getting foreclosure notices. He said it "takes time for the attorneys to catch up.” Randall asked him again to please notify them again to cease and desist.

We never got anything in writing from Champion confirming what we had been told on the phone, despite our repeated requests.

March 17, 2016 – Due to the fact of the upcoming deadline of March 17, 2016 and I don’t trust Champion Mortgage Company at all; I called and spoke to Mr. Hadnett to confirm the deadlines. This was the first time that they talked to me and verified everything was in place.

March 31, 2016 – I received another “Urgent Notice” on the doorknob of my aunt’s house from Champion Reverse Mortgage Servicing Department. I called and was told that everything was confirmed and that it takes time for these things to stop and that they could not provide me the information for whom is doing this locally. And that I “should not worry about it” This was one of the first times they addressed me and acknowledged I was the person to talk to and we had civil conversation, even though I was still getting the notices they had promised to stop back in February.

April 5, 2016 – I received a letter from Champion, asking me to contact them “in regards to the current status of your reverse mortgage. We would like you to contact us so we may discuss with you the options you have regarding your reverse mortgage. In addition, it is important that you notify us of any changes in your contact information so that we are better able to communicate with you regarding the status of your mortgage.” Every letter I wrote gave them my current information and phone number. It was clear to me that this was just another way to harass a beleaguered relative who was doing everything I could do sell the house and get them their money as quickly as I could.

I called and spoke to LeAnn and asked her “why do I have to continue to be harassed? I am doing everything I can to sell the house and get Champion out of my life forever.” She stated that “legally they have to continue sending letters and notices so that they are ready to begin foreclosure proceedings.” I question what the legal basis is for this harassment.

In April and May, notices continued to be placed on the doorknob for prospective buyers to see.

Week of May 23 – Good news – they were actually communicating to me – Bad news I was getting harassed at both addresses! Weeks before the first extension was due, instead of receiving a letter updating my status, I received two certified letters and two regular mail letters at my address as well as my aunt’s house, again threatening foreclosure. When I called, I was told that “legally” these threats of foreclosure had to keep coming so that if I defaulted they were ready to foreclose on the property. The home had been ready for sale since March and buyers had been looking at the home regularly. So every effort was being made to sell the home.

June 9- I filed for my first extension. I was told that I needed to redo the request with specific wording on the letter and the listing agreement. I called every day to inquiry about approval. Weeks later, on June 24, I finally got approval for the extension

June 28 – I received a notice of eviction letter; that the house is vacant and not kept up and measures will be taken to change the locks. I called Champion on July 6 to inform them that the house was not vacant (my son was staying there) and that maintenance was being kept up and that the house is being shown weekly.

I was told that they would tell the inspector by email. I called on July 7, 2016 to reiterate that the property was not vacant and is being kept up. I was informed that the preservation department had not responded so the manager advised the customer service representative to resend the notice.

There’s no other way to look at these repeated foreclosure notices, eviction notices and requests for information as anything but harassment.

In September, the final trick in Champion’s arsenal of harassment was to contact the homeowner’s insurance company to tell them the house was vacant and my aunt no longer lived there. This was to try to get the insurance company to cancel the homeowner’s insurance. With no homeowner’s insurance, we would be in violation of the terms of the reverse mortgage agreement, and thus Champion could seize the home that way.

I fought back by calling the insurance company to tell them that my son is still living in the basement and the house is for sale. We were able to obtain a new policy for the house.

In October 2016, when I requested my last extension and provided them with an offer from a qualified home buyer, Champion finally stopped harassing me with certified letters and notices on the door.

Of course, Champion wasn’t done yet. During the process of closing on the home sale, Champion dragged their feet in providing an updated loan payoff amount, even though the title company asked numerous times. So I had to overpay them and wait for reimbursement – yet another way that Champion caused me needless stress.

Throughout this ordeal, I never had a chance to properly grieve the loss of my beloved aunt. She had been like a mother to me in many ways. With all the house cleanup and repair, putting the home on the market, meeting deadlines with the County Court and tracking the multiple due dates and requests for information from Champion, there was little time to grieve for my loss.

Besides stealing my grieving period, they worked hard to sabotage the sale of my aunt’s home, first by making me list the property before repairs and upgrades were complete (thus putting off buyers) and then by repeatedly putting notices on the door knob causing prospective buyers to wonder what was going on.

It’s now my life’s work to tell everyone I can “never take out a reverse mortgage for any reason.” If you do, you risk subjecting your loved ones to months of needless suffering and harassment from a greedy and thoughtless mortgage company. My reward Champion Reverse Mortgage did not get my aunt’s house and I never have to deal with them again!

I received a letter today requesting status of the house which was paid off November 9th. I lost all composure!

Good lord! I'm so sorry for what you had to go through. I've heard similar tales. I'd love for TS to hear this story, but I imagine that, should you find a way to contact him, he'd reply, "Well, that was Champion - I shill for AAG."

Correct me if I'm wrong but I think my situation is ideal for a reverse.
I'm living in a home I shared with my mother until she died last year at age 95. She of course left it to me. I'm 55 with no children or heirs and will probably be here until the end.
How can I go wrong getting a reverse mortgage at say 65?

My grandmother was offered one that would give her about 30% of the home's sale value, spread out over two payments in 2 years. At 90, she would have to live a second year to get the second payment. And at 90, Tom Selleck is probably very appealing to her. 

Tom Selleck's net worth is 25 million. I cannot believe he needs the money for being this kind of spokesperson. If he needs a cause to speak up for why not pollution of our oceans or heart disease. In my book, he went from a 9 to a 3.