My elderly mother took out a reverse mortgage with Champion Reverse Mortgage (aka Nationstar Mortgage). She passed away March 3, 2014. I notified Champion Mortgage of her passing in both letters and telephone calls. It took approximately 8 weeks to get the death certificate from Los Angeles County.
The house was in a family trust and it needed major work foundation, plumbing, heating) before it could be sold. Spoke with Champion Mortgage and was told to simply send a copy of the Real Estate listing and everything would be fine. When the house was listed a copy of the listing was faxed to Champion Mortgage.
On July 17, 2014, while signing escrow closing papers - - I was notified by Champion Mortgage that the house was in Pre-Foreclosure. I had never heard of that term. But knew it was going to cost money. Spoke with Jennifer O. extension 7533521, at Champion Mortgage and asked her when I was going to find out that the house was in Pre-Foreclosure. Jennifer O. replied: "It's not info that we send out you have to call in for it." OMG.
I'm thinking that my mom just died 4 months ago. I cleaned out her house and 82 years of her things. Got major construction work completed and the house sold. Wrong. Champion Mortgage goal was to foreclose on the house.
On July 21, I spoke with Ann (ID No. 2847) on the telephone as per Champion Mortgage Rep Jennifer O. said to do and Ann said there was no pending action regarding foreclosure in the file. Yet, Champion Mortgage had filed a Notice of Default. Ann said it was best to fax information to Champion Mortgage and to ask for a 3 month extension.
I have a file folder that is at least an 1-1/2 inches thick with correspondence to Champion Mortgage. Keeping them updated with the necessary information about the sale of the house. Ultimately, Champion Mortgage charged the estate charged $1155.50 for Attorney fees and costs regarding the Pre-Foreclosure. Champion Mortgage has yet to provide an accounting of these fees and costs. It is my opinion that these fees are bogus and just another way to rip off elderly people.
Everything that has been posted about these companies is TRUE They are overly aggressive, intimidating, harassing, and rude. I inherited the family home from my Dad who had a Reverse Mortgage...it started out with Met Life and was "sold" to Champion. Then it was "sold" to Proficio Mortgage ( in Henderson, NV ) and as soon as the papers were signed, it was "sold" back to Champion and then turned over to Celink ( which is a subserver ) Celink is who I am dealing with. Every time it is "sold" your mortgage takes a hit. They charge interest, on interest, on interest. This is nothing more than loan sharking!!! They need to be stopped. Please e-mail your Governor, State Senator, the President, HUD, FHA and tell anyone who will listen to stay away from these mortgages. They are predatory, deceptive, fraudulent, and unethical. My Dad was coerced into it and I am not being victimized because of it. The stress I am under from these people is literally killing me. We desperately need help!
Our mortgage was originated by MetLife and was subsequently sold to Champion Mortgage: With Met, we only made one certification per year.
Champion has undertaken a campaign of harassment, I believe is aimed at forcing a foreclose due to our failure to comply with requests to submit documents.
I submitted proof of tax payment on two occasions, proof of insurance from my carrier on two occasions and proof of occupancy at least three times. Last week a representative of Champion appeared on our property taking pictures and requested my wife provide a photo I.D.
I received a phone call today (5/14/15) from an individual again requesting a proof of occupancy. I informed him of the numerous repeated requests and that I considered the repeated telephone calls and personal visit to be harassment and would like to submit a formal complaint. He then informed me he could take a verbal Certification over the phone and proceeded to do so. Subsequently my wife called the Champion customer support to file a complaint, she was told that another "Proof of Occupancy" form was being mailed and was to be completed and returned.
I would be interested if anyone knows of an Attorney interested filing a Class Action and going after, what I believe, to be a disreptable company targeting senior citizens.
My mother had a reverse mortgage on our house; she was disabled and needed to get some repairs done to the house; I was out of work and was going back to school to train for another job when I became disabled due to interstitial lung disease which manifested to Idiopathic Pulmonary Fibrosis. When my mother passed away in 2014, I was on disability and I had hoped that I could pay this reverse mortgage off in monthly increments; it turned out that they require the ENTIRE amount upfront, no exceptions. Because of my disability, my credit rating was not too good and refinancing was out of the question. I was constantly harassed day and night (even as late as 1:00AM!) by people wanting me to tell them the same thing over and over, constantly sending me forms to fill out, demanding when was I going to pay them whole amount or when was I going to sell the house to pay the, the exorbitant amount of money they were demanding, which was twice the amount of money they allotted my mother to use! And I ended up selling her house and paying over $64,000 instead of the $57,100 they said she owed, which was twice what they allotted her as credit to withdraw from, which was just over $20,000+. Is there any law firm that may have a lawsuit out on these New Age Predatory Lenders?
We are going through their scam but we instead contacted the U.S.Government( the Presidencial Adminstration) for directive information our mothers home was a H.U.D. and Champion Mortgage stole the equity of her home and illegally forclosed on her so we contacted them and they are the people that have access to all transactions that involved my mother's home they are investigating the Reverse Mortage Scam by B of A bank and Nation Star Mortgage, Champion Mortgage is a DBA which means doing business as ( Nation Star Scam) we were told by H.U.D. That they are sorry about what is happening to my mother however do not worry that is why we are here to assist you we will start the investigation Asap! and they are, they immediately have even appointed us a Counsler for tomorrow. What most Americans are not aware of is that H.U.D.as a great deal of Authority over Home Lenders in this country, they are a true blessing for our situation the Mortgage Lending Laws Have changed please inform yourselves with updates on the rules and regulations that big Lenders must abide by according to Federal law Banks that are dishonest here are a few (Bank of America, U.S.Bank,Wells Fargo Bank and the most dishonest of them all in the Country is SANTANDER USA They are based out of Madrid Span avoid doing any business they are demons in disguise if you intend borrowed monies for a home from big banking make sure you get in writing that in ordered to have the loan processed that they write up a contract signed and notorized they no not have the right to sell your loan to SANTANDER USA OR ANY OF THIER OTHER DBA'S if they refuse take your business else where and simply walkout of the bank and go to another one but before you do , remember to research past and present history of any Bank so that you may not fall victim to fraudulent illegal banking practices that is happinig today in America we are the fuel they need to run their motors without us the American public they are as useless as a one legged dinner table educate yourselves before you enter into any contract of any kind that is you right if you do not understand the big worded contracts stop before you sign and have lender explain it in layman terms what it means they have to it is the law!, they work for you not the other way around arm yourself with knowledge because at the end of the day you are responsible for the loan you are bonded by law as much as they are so do not be afraid to ask, ask and ask some more about what you do not understand in a contract and always never over look at the fine printing it is there for a reason.God speed AMERICA!
Against my advice, my Aunt obtained a reverse mortgage from Champion with a monthly amount that was subsequently increased (doubled and redoubled) at the direction of her unscrupulous "room mate / caregiver". In addition, that same person took additional funds from Champion with no difficulty at all. My Aunt passed away late in 2013 and I was named executrix in her will. Wishing to sell her house as part of the estate, I contacted Champion for payout information as the documents from them were not clear in the amount owed. Over the course of the next 10 months, I was unable to learn of the exact amount owed until late in 2014 - after our lawyer became involved to a large extent.
Contact with Champion was difficult as I was never able to obtain more than a first name and typically spoke to a different person on each occasion. Nor were phone messages returned. A payout letter was finally received showing the amount valid through 12/31/14 that contained legal fees of $5250 with no explanation. Multiple requests for an explanation of the legal fees were requested from my lawyer and myself over a 2 week period to no avail. On the date of the closing Champion was contacted to verify the amounts and to again request the legal fee explanation. Both requests were refused and a cashier's check for the full amount due Champion was issued.
It was later learned, more than 1 week after the closing that the cashier's check had been "short" by $.06. Champion indicated that it had been mailed back with a letter, but this was never received. Champion was asked where the check had been mailed to, and they could not respond. Over the next 3 weeks, the location of the check could not be determined until miraculously after numerous phone calls and emails between all interested parties Champion was able to locate the check in one of their offices. After 4 weeks they indicated that additional interest would not be charged by them "as a courtesy". I have instructed my lawyer to sue Champion for his legal fees and to report them to any authority that would be interested.
CHAMPION MORTAGE IS STEALING MY MOTHERS HOME LET ME TELL U HOW THEY DID THIS MOTHER HAD FIRST EFFECTS OF ALTIMERS ONE OF CHAMPIONS REPERSATIVES TALK HER INTO A REVERSE MORTGAGE SO THIS PERSON HAD DID ALL THE PAPERWORK WITHOUT NO ONE ELSE KNOWING ANTHING ABOUT IT I DONT KNOW HOW THIS GUY DID THIS BUT HE MANAGE TO GET $250.000 LOAN FROM B&A ON MY MOTHERS HOUSE WHICH WAS PAID OFF IN THE FIRST PLACE HE NOW SENDS MY MOTHER ONE CHECK FOR FEW HUNDREAD DOLLARS SO I GUESS SHE THINKS EVERY THING IS GOOD NOW HER HOUSE HAS A FIRE AND THE HOUSE IS DETROYED AND MY MOTHER IS KILLED IN IT BLESS HER SOUL SO TIME GOES BY AND THEN WE FIND OUT THE HOUSE HAS A REVERSE MORTGAGE WITH CHAPION AND THEY WANT THEIR MONEY ANYWAY WE FIND OUT THAT CHAPIONS EMPLOYEE HAD STOLEN ALL THE LOAN MONEY AND AS THEY SAY THEY DONT KNOW WHERE HE IS OR THE MONEY. THE HOUSE WAS INSURED BUT THIS COMPANY TOOK THE INSURANCE MONEY AND STILL WANTS THE SIBBLINS TO PAY IT OFF OR THEY WILL TAKE IT, THE LAND. LAWYER SAYS ITS NOT WORTH TO FIGHT THIS BUT WHY SHOULD WE GIVE CHAMPION LAND FREE FOR A FEW DOLLARS SO I SAY WATCH OUT FOR THESE CROOKS ANY ADVICE WOULD BE APPRECIATED
Everything that the other people can complained about it true! The program ( Reverse Mortgages ) should be stopped. It is deceptive, fraudulent, unethical, and predatory. My Dad was coerced into one. It seems to be OK until the borrow dies. My Dad passed away on January 2, 2017. I got a call from "Celink" who is a subserver for Champion. on January 27th telling me that I had 30 days from his death to "make good on the loan or they would start foreclosure" I was his dependent/caregiver living in the house with him. He was assured that because the house was in a trust being left to me , I was over 62, and was recognized by the state of California and the Federal Government as his dependent there would be NO PROBLEM the mortgage would be transferred into my name...oh yeah??? Guess again. I have been harassed, threatened, and intimidated by these people. I am being forced to sell the house. I have no income and nowhere to go. I know that I am not the only one out there is this situation. They are foreclosing on spouses who they REFUSED TO LET SIGN as a co-borrower. Oh and fyi there is only one Reverse Mortgage company in the country...It is NATIONSTAR/CHAMPION. And they have offices all over the country. Their headquarters are in Dallas, Texas, but all of the paper work I have comes from Lansing, MI. We need help stopping these people. I have written to my state Senator, state Governor, and the White House. If anyone has anymore suggestions, PLEASE pass them along.
My Dad was coerced into a Reverse Mortgage. It started out with Met Life, then went to CHAMPION ( AKA NATION STAR ) then went to Proficio Mortgage, then back to Champion and immediately was handed off to CELINK ( a sub server ) Every time it is "sold" the mortgage takes a hit. These mortgages need to become illegal!!! They are predatory, deceptive, fraudulent, and unethical. They are nothing more than legalized loan sharking. ( interest on interest, on interest ) After the borrower dies, the nightmare begins for us heirs. The treatment that we get is awful. They use intimidation, harassment, they threaten. I am 65 years old and in precarious health. I told them that the stress that they are causing me is literally killing me...I was told to "just take a deep breath" by one agent, and "put it in God's hands" by another. Is it any wonder that we are the laughing stock of the world the way us seniors are being victimized! I wonder just how these people would react if they were on the other side of the phone calls and letters? Personally, I don't think they even deserve 1 star...they should get minus stars for their practices.
I inherites a reverse mortgage, I have spent a year going threw the legal syatem to " Gain te legal right to refinance the property" i went through probate , Now Generation Mortgage Sold the loan to Champion Mortgage.
I tried to talk with Champion when I received notification , They advised me i had to send them info saying I was the legal person to deal with, I went through PROBATE , Sent them the info , Now they say suring this time when they couldn't legally talk to me , I went into Forclosure ? Apparently it is like being on double secret probation ?
I paid the taxes, Paid the insurance , Paid the legal fees , and Am looking to finance the home and threw loopholes they have put me into foreclosure ?
I sent the info to email addresses they gave me , Now they are saying that was a email address that belonged to a 3rd party representative of their company ? And that iy doesn't count ?
Champion Mortgage hired a contractor to change the lock on a house that had been boarded up, after a fire, where the owner, who had a reverse mortgage, perished in the home. The original hinged hasp, that was securing the door to the home, was pryed off with a crowbar, and the wood framework was shattered in the process. The original screws, that held the hinged hasp, were pushed back into the shattered wood, and the hasp was no longer secure, which allowed someone to enter and ransack the home, and items belonging to the decedent, were stolen.
The insurance adjuster, for the company that provided insurance on the dwelling, called Champion Mortgage Company, and was forthcoming with information about insurance coverage, and asked for a pay-off amount, in an effort to pay off the loan, and he was basically told to "get lost", since he was not the executor of the estate.
Once I was appointed executor, I called Champion Mortgage, and was asked to send legal documentation, which I did. Three days later, I endorsed a check, provided by the insurance company, to pay off the mortgage, sent the check by USPS, and faxed a photocopy of the check to Champion Mortgage, with the loan number, and instructions, to pay off the loan.
Champion Mortgage company, received and cashed the check, 12 days later, but did not apply it to the loan. They put it in a non-interest bearing account, which as an executor, I am not allowed to access, unless I am pre-qualified for a reverse mortgage loan.
This company and it's representatives, are at the least, incompetent. Their representatives do not provide correct information, their practices are deceptive, and it appears as though they are using stall tactics, in an effort to start foreclosure proceedings, almost 2 months after they received and cashed the check, which was written for the total pay-off amount.
I have a lot of elderly friends, and I tell each and every one of them, no matter what, do not ever take out a reverse mortgage loan. Champion Mortgage, preys on the elderly, and the deceased, and should be shut down by a class action suit or the US Government.
My mother passed away on 12/31/14 and my sister and I, the only heirs were horrified to find out that my mother had a reverse mortgage despite our pleas when she was alive not to get one. She went with Champion Mortgage which was a big mistake. It is now March 4th and we are still trying to get a payoff amount so we can pay the lien in full. Sounds simple right? Not so much.
Dealing with their customer service has been a nightmare. They are totally incompetent and we get a different story from every rep we contact. All we want to do is pay off the lien, in full and get them out of our lives but they do everything possible to drag the process along which means interest accumulates and the payoff, whatever it is continues to rise. At this point we figure it is close to 56 k and we are afraid of what hidden surprises we will get once they tell us the payoff amount. Their prarctices have to be illegal and I don't see how they are allowed to violate the decased and the heirs trying to do the right thing and pay off thier lien.
Do not ever go with these idiots for a reverse mortgage or you will be victimized and violated like everyone that has ever had to deal with this company. I will update this once we are no longer have to deal with them and fill you in on the outcome. I'm sure my mother is rolling over in her grave!
Champion mortgage is demanding i buy fema flood insurance because a portion of the land is in a flood zone. not the house the land. their policy. the house is all that will be covered under this policy no trees bushes which is the back side of property. whiy should i buy a high dollar fema policy to cover land that the insurance company will not pay if its damaged. no one seems intereste in the house, got to have coverage on property, fema has charged about 500. per year, now the want me to pay 1980. per year to cover the land portion, that will not be covered. but their will to take 1980.00 dollars and say your covered. The insurance company i have used since 2006 they will write the policy but the land is still not covered.
any one have a thought on this one. i have about 2 months, my income will not match that.
Without going into detail, I experienced 90% of what others are saying above.... Stretched out the sale of my Father's home so long that they demanded a second appraisal months into the sale... Naturally the sales price then went up... The house was in the family trust, my brother, a member of the trust was purchasing, it was an all-cash sale.... it took FIVE months and having to worry about a pre-foreclosure notice we got about a month before the sale closed. Insult to injury? Because they stretched out the sale so long, I'm on the hook to file taxes for the trust again this year.... I was supposed to have received a 1099C form from them by 01/31.... never came. Tomorrow will be day THREE on the phone with these crooks trying to make them send a simple tax form! Do NOT let anyone you love do business with these people - have yourself appointed conservator if you have to, but do NOT let a loved one do business with this organization.
Nationstar Mortgage Company PREDATORY/they said he was not disabled and forged his name. they said he received 2,250.00 per month. his disability benefit sheet for the year showed his income was only 740.00 per month at the time. they changed the figure right in front of him. did not understand. Lewisville Texas.
When my Mother passed away, I contacted Champion Mortgage within two weeks to discuss paying off her reverse mortgage. They would not discuss the loan until I provided proof of my Mother's death, which they already had because they sent me a letter stating so, along with documentation that I was the person responsible for the estate.
Over the next two months I received bi-weekly letters from them stating that the loan is now due. I sent them a letter of intent to payoff the loan along with all the requested information. The harassing letters continued along with letters taped to the front door of an empty house with the word Confidential in bold letters signaling to any burglar that nobody is home.
They continue to send registered letters stating that I have not attempted to contact them when I have both a paper trail of faxes and letters sent along with a complete log of every time I have called them.
In the course of trying to refinance this reverse mortgage when the title company called, Champion Mortgage would not provide required information without my intervention.
When the company refinancing my mortgage, a very reputable well-known one, tried to contact them they were told they no longer had that reverse mortgage.
When I provided my refinancer with the the reverse mortgage information and a payoff letter was requested they were told it would take 7-10 business days to provide a payoff letter. Meanwhile the expiration date for my refinance is approaching because we cannot obtain a simple payoff letter from Champion Mortgage, somethingg that any reputable company should be able to provide in minutes.
I don't know what to make of a company that demands immediate payoff but makes it impossible to do so because they will not provide a payoff letter to a nationally known and advertised lender.
One thing to note. They refuse to do any communication via fax or email. Only by phone. But, of course, when one does so by phone there is no legal record.
This company seems focused on doing everything they can to make sure that a reverse mortgage always goes into foreclosure.
After months and months of threatening phone calls and registered-return-receipt letters, I finally sold the family home to "pay-off" the reverse mortgage. Now they are in no hurry give me a "pay-off amount". It seems that this is a common practice with Champion ( subserver Celink ) They wait until after the beginning of the next month that the request has been made before they " calculate the pay-off amount" That way they charge you another month of interest on interest on interest. That is illegal. How do we stop this unethical practice???
Champion Mortgage Reviews
My elderly mother took out a reverse mortgage with Champion Reverse Mortgage (aka Nationstar Mortgage). She passed away March 3, 2014. I notified Champion Mortgage of her passing in both letters and telephone calls. It took approximately 8 weeks to get the death certificate from Los Angeles County.
The house was in a family trust and it needed major work foundation, plumbing, heating) before it could be sold. Spoke with Champion Mortgage and was told to simply send a copy of the Real Estate listing and everything would be fine. When the house was listed a copy of the listing was faxed to Champion Mortgage.
On July 17, 2014, while signing escrow closing papers - - I was notified by Champion Mortgage that the house was in Pre-Foreclosure. I had never heard of that term. But knew it was going to cost money. Spoke with Jennifer O. extension 7533521, at Champion Mortgage and asked her when I was going to find out that the house was in Pre-Foreclosure. Jennifer O. replied: "It's not info that we send out you have to call in for it." OMG.
I'm thinking that my mom just died 4 months ago. I cleaned out her house and 82 years of her things. Got major construction work completed and the house sold. Wrong. Champion Mortgage goal was to foreclose on the house.
On July 21, I spoke with Ann (ID No. 2847) on the telephone as per Champion Mortgage Rep Jennifer O. said to do and Ann said there was no pending action regarding foreclosure in the file. Yet, Champion Mortgage had filed a Notice of Default. Ann said it was best to fax information to Champion Mortgage and to ask for a 3 month extension.
I have a file folder that is at least an 1-1/2 inches thick with correspondence to Champion Mortgage. Keeping them updated with the necessary information about the sale of the house. Ultimately, Champion Mortgage charged the estate charged $1155.50 for Attorney fees and costs regarding the Pre-Foreclosure. Champion Mortgage has yet to provide an accounting of these fees and costs. It is my opinion that these fees are bogus and just another way to rip off elderly people.
CHAMPION/CELINK Reverse Mortgage
Everything that has been posted about these companies is TRUE They are overly aggressive, intimidating, harassing, and rude. I inherited the family home from my Dad who had a Reverse Mortgage...it started out with Met Life and was "sold" to Champion. Then it was "sold" to Proficio Mortgage ( in Henderson, NV ) and as soon as the papers were signed, it was "sold" back to Champion and then turned over to Celink ( which is a subserver ) Celink is who I am dealing with. Every time it is "sold" your mortgage takes a hit. They charge interest, on interest, on interest. This is nothing more than loan sharking!!! They need to be stopped. Please e-mail your Governor, State Senator, the President, HUD, FHA and tell anyone who will listen to stay away from these mortgages. They are predatory, deceptive, fraudulent, and unethical. My Dad was coerced into it and I am not being victimized because of it. The stress I am under from these people is literally killing me. We desperately need help!
Our mortgage was originated by MetLife and was subsequently sold to Champion Mortgage: With Met, we only made one certification per year.
Champion has undertaken a campaign of harassment, I believe is aimed at forcing a foreclose due to our failure to comply with requests to submit documents.
I submitted proof of tax payment on two occasions, proof of insurance from my carrier on two occasions and proof of occupancy at least three times. Last week a representative of Champion appeared on our property taking pictures and requested my wife provide a photo I.D.
I received a phone call today (5/14/15) from an individual again requesting a proof of occupancy. I informed him of the numerous repeated requests and that I considered the repeated telephone calls and personal visit to be harassment and would like to submit a formal complaint. He then informed me he could take a verbal Certification over the phone and proceeded to do so. Subsequently my wife called the Champion customer support to file a complaint, she was told that another "Proof of Occupancy" form was being mailed and was to be completed and returned.
I would be interested if anyone knows of an Attorney interested filing a Class Action and going after, what I believe, to be a disreptable company targeting senior citizens.
This happened to me, too!
My mother had a reverse mortgage on our house; she was disabled and needed to get some repairs done to the house; I was out of work and was going back to school to train for another job when I became disabled due to interstitial lung disease which manifested to Idiopathic Pulmonary Fibrosis. When my mother passed away in 2014, I was on disability and I had hoped that I could pay this reverse mortgage off in monthly increments; it turned out that they require the ENTIRE amount upfront, no exceptions. Because of my disability, my credit rating was not too good and refinancing was out of the question. I was constantly harassed day and night (even as late as 1:00AM!) by people wanting me to tell them the same thing over and over, constantly sending me forms to fill out, demanding when was I going to pay them whole amount or when was I going to sell the house to pay the, the exorbitant amount of money they were demanding, which was twice the amount of money they allotted my mother to use! And I ended up selling her house and paying over $64,000 instead of the $57,100 they said she owed, which was twice what they allotted her as credit to withdraw from, which was just over $20,000+. Is there any law firm that may have a lawsuit out on these New Age Predatory Lenders?
Champion Mortgage AKA. Nation Star
We are going through their scam but we instead contacted the U.S.Government( the Presidencial Adminstration) for directive information our mothers home was a H.U.D. and Champion Mortgage stole the equity of her home and illegally forclosed on her so we contacted them and they are the people that have access to all transactions that involved my mother's home they are investigating the Reverse Mortage Scam by B of A bank and Nation Star Mortgage, Champion Mortgage is a DBA which means doing business as ( Nation Star Scam) we were told by H.U.D. That they are sorry about what is happening to my mother however do not worry that is why we are here to assist you we will start the investigation Asap! and they are, they immediately have even appointed us a Counsler for tomorrow. What most Americans are not aware of is that H.U.D.as a great deal of Authority over Home Lenders in this country, they are a true blessing for our situation the Mortgage Lending Laws Have changed please inform yourselves with updates on the rules and regulations that big Lenders must abide by according to Federal law Banks that are dishonest here are a few (Bank of America, U.S.Bank,Wells Fargo Bank and the most dishonest of them all in the Country is SANTANDER USA They are based out of Madrid Span avoid doing any business they are demons in disguise if you intend borrowed monies for a home from big banking make sure you get in writing that in ordered to have the loan processed that they write up a contract signed and notorized they no not have the right to sell your loan to SANTANDER USA OR ANY OF THIER OTHER DBA'S if they refuse take your business else where and simply walkout of the bank and go to another one but before you do , remember to research past and present history of any Bank so that you may not fall victim to fraudulent illegal banking practices that is happinig today in America we are the fuel they need to run their motors without us the American public they are as useless as a one legged dinner table educate yourselves before you enter into any contract of any kind that is you right if you do not understand the big worded contracts stop before you sign and have lender explain it in layman terms what it means they have to it is the law!, they work for you not the other way around arm yourself with knowledge because at the end of the day you are responsible for the loan you are bonded by law as much as they are so do not be afraid to ask, ask and ask some more about what you do not understand in a contract and always never over look at the fine printing it is there for a reason.God speed AMERICA!
Against my advice, my Aunt obtained a reverse mortgage from Champion with a monthly amount that was subsequently increased (doubled and redoubled) at the direction of her unscrupulous "room mate / caregiver". In addition, that same person took additional funds from Champion with no difficulty at all. My Aunt passed away late in 2013 and I was named executrix in her will. Wishing to sell her house as part of the estate, I contacted Champion for payout information as the documents from them were not clear in the amount owed. Over the course of the next 10 months, I was unable to learn of the exact amount owed until late in 2014 - after our lawyer became involved to a large extent.
Contact with Champion was difficult as I was never able to obtain more than a first name and typically spoke to a different person on each occasion. Nor were phone messages returned. A payout letter was finally received showing the amount valid through 12/31/14 that contained legal fees of $5250 with no explanation. Multiple requests for an explanation of the legal fees were requested from my lawyer and myself over a 2 week period to no avail. On the date of the closing Champion was contacted to verify the amounts and to again request the legal fee explanation. Both requests were refused and a cashier's check for the full amount due Champion was issued.
It was later learned, more than 1 week after the closing that the cashier's check had been "short" by $.06. Champion indicated that it had been mailed back with a letter, but this was never received. Champion was asked where the check had been mailed to, and they could not respond. Over the next 3 weeks, the location of the check could not be determined until miraculously after numerous phone calls and emails between all interested parties Champion was able to locate the check in one of their offices. After 4 weeks they indicated that additional interest would not be charged by them "as a courtesy". I have instructed my lawyer to sue Champion for his legal fees and to report them to any authority that would be interested.
Champion Mortgage has billed us for homeowners insurance even though proof of insurance was provided.
CHAMPION MORTAGE IS STEALING MY MOTHERS HOME LET ME TELL U HOW THEY DID THIS MOTHER HAD FIRST EFFECTS OF ALTIMERS ONE OF CHAMPIONS REPERSATIVES TALK HER INTO A REVERSE MORTGAGE SO THIS PERSON HAD DID ALL THE PAPERWORK WITHOUT NO ONE ELSE KNOWING ANTHING ABOUT IT I DONT KNOW HOW THIS GUY DID THIS BUT HE MANAGE TO GET $250.000 LOAN FROM B&A ON MY MOTHERS HOUSE WHICH WAS PAID OFF IN THE FIRST PLACE HE NOW SENDS MY MOTHER ONE CHECK FOR FEW HUNDREAD DOLLARS SO I GUESS SHE THINKS EVERY THING IS GOOD NOW HER HOUSE HAS A FIRE AND THE HOUSE IS DETROYED AND MY MOTHER IS KILLED IN IT BLESS HER SOUL SO TIME GOES BY AND THEN WE FIND OUT THE HOUSE HAS A REVERSE MORTGAGE WITH CHAPION AND THEY WANT THEIR MONEY ANYWAY WE FIND OUT THAT CHAPIONS EMPLOYEE HAD STOLEN ALL THE LOAN MONEY AND AS THEY SAY THEY DONT KNOW WHERE HE IS OR THE MONEY. THE HOUSE WAS INSURED BUT THIS COMPANY TOOK THE INSURANCE MONEY AND STILL WANTS THE SIBBLINS TO PAY IT OFF OR THEY WILL TAKE IT, THE LAND. LAWYER SAYS ITS NOT WORTH TO FIGHT THIS BUT WHY SHOULD WE GIVE CHAMPION LAND FREE FOR A FEW DOLLARS SO I SAY WATCH OUT FOR THESE CROOKS ANY ADVICE WOULD BE APPRECIATED
"Bend over and let's discuss it"
Everything that the other people can complained about it true! The program ( Reverse Mortgages ) should be stopped. It is deceptive, fraudulent, unethical, and predatory. My Dad was coerced into one. It seems to be OK until the borrow dies. My Dad passed away on January 2, 2017. I got a call from "Celink" who is a subserver for Champion. on January 27th telling me that I had 30 days from his death to "make good on the loan or they would start foreclosure" I was his dependent/caregiver living in the house with him. He was assured that because the house was in a trust being left to me , I was over 62, and was recognized by the state of California and the Federal Government as his dependent there would be NO PROBLEM the mortgage would be transferred into my name...oh yeah??? Guess again. I have been harassed, threatened, and intimidated by these people. I am being forced to sell the house. I have no income and nowhere to go. I know that I am not the only one out there is this situation. They are foreclosing on spouses who they REFUSED TO LET SIGN as a co-borrower. Oh and fyi there is only one Reverse Mortgage company in the country...It is NATIONSTAR/CHAMPION. And they have offices all over the country. Their headquarters are in Dallas, Texas, but all of the paper work I have comes from Lansing, MI. We need help stopping these people. I have written to my state Senator, state Governor, and the White House. If anyone has anymore suggestions, PLEASE pass them along.
CHAMPION/CELINK Reverse Mortgage
My Dad was coerced into a Reverse Mortgage. It started out with Met Life, then went to CHAMPION ( AKA NATION STAR ) then went to Proficio Mortgage, then back to Champion and immediately was handed off to CELINK ( a sub server ) Every time it is "sold" the mortgage takes a hit. These mortgages need to become illegal!!! They are predatory, deceptive, fraudulent, and unethical. They are nothing more than legalized loan sharking. ( interest on interest, on interest ) After the borrower dies, the nightmare begins for us heirs. The treatment that we get is awful. They use intimidation, harassment, they threaten. I am 65 years old and in precarious health. I told them that the stress that they are causing me is literally killing me...I was told to "just take a deep breath" by one agent, and "put it in God's hands" by another. Is it any wonder that we are the laughing stock of the world the way us seniors are being victimized! I wonder just how these people would react if they were on the other side of the phone calls and letters? Personally, I don't think they even deserve 1 star...they should get minus stars for their practices.
I inherites a reverse mortgage, I have spent a year going threw the legal syatem to " Gain te legal right to refinance the property" i went through probate , Now Generation Mortgage Sold the loan to Champion Mortgage.
I tried to talk with Champion when I received notification , They advised me i had to send them info saying I was the legal person to deal with, I went through PROBATE , Sent them the info , Now they say suring this time when they couldn't legally talk to me , I went into Forclosure ? Apparently it is like being on double secret probation ?
I paid the taxes, Paid the insurance , Paid the legal fees , and Am looking to finance the home and threw loopholes they have put me into foreclosure ?
I sent the info to email addresses they gave me , Now they are saying that was a email address that belonged to a 3rd party representative of their company ? And that iy doesn't count ?
Champion Mortgage hired a contractor to change the lock on a house that had been boarded up, after a fire, where the owner, who had a reverse mortgage, perished in the home. The original hinged hasp, that was securing the door to the home, was pryed off with a crowbar, and the wood framework was shattered in the process. The original screws, that held the hinged hasp, were pushed back into the shattered wood, and the hasp was no longer secure, which allowed someone to enter and ransack the home, and items belonging to the decedent, were stolen.
The insurance adjuster, for the company that provided insurance on the dwelling, called Champion Mortgage Company, and was forthcoming with information about insurance coverage, and asked for a pay-off amount, in an effort to pay off the loan, and he was basically told to "get lost", since he was not the executor of the estate.
Once I was appointed executor, I called Champion Mortgage, and was asked to send legal documentation, which I did. Three days later, I endorsed a check, provided by the insurance company, to pay off the mortgage, sent the check by USPS, and faxed a photocopy of the check to Champion Mortgage, with the loan number, and instructions, to pay off the loan.
Champion Mortgage company, received and cashed the check, 12 days later, but did not apply it to the loan. They put it in a non-interest bearing account, which as an executor, I am not allowed to access, unless I am pre-qualified for a reverse mortgage loan.
This company and it's representatives, are at the least, incompetent. Their representatives do not provide correct information, their practices are deceptive, and it appears as though they are using stall tactics, in an effort to start foreclosure proceedings, almost 2 months after they received and cashed the check, which was written for the total pay-off amount.
I have a lot of elderly friends, and I tell each and every one of them, no matter what, do not ever take out a reverse mortgage loan. Champion Mortgage, preys on the elderly, and the deceased, and should be shut down by a class action suit or the US Government.
My mother passed away on 12/31/14 and my sister and I, the only heirs were horrified to find out that my mother had a reverse mortgage despite our pleas when she was alive not to get one. She went with Champion Mortgage which was a big mistake. It is now March 4th and we are still trying to get a payoff amount so we can pay the lien in full. Sounds simple right? Not so much.
Dealing with their customer service has been a nightmare. They are totally incompetent and we get a different story from every rep we contact. All we want to do is pay off the lien, in full and get them out of our lives but they do everything possible to drag the process along which means interest accumulates and the payoff, whatever it is continues to rise. At this point we figure it is close to 56 k and we are afraid of what hidden surprises we will get once they tell us the payoff amount. Their prarctices have to be illegal and I don't see how they are allowed to violate the decased and the heirs trying to do the right thing and pay off thier lien.
Do not ever go with these idiots for a reverse mortgage or you will be victimized and violated like everyone that has ever had to deal with this company. I will update this once we are no longer have to deal with them and fill you in on the outcome. I'm sure my mother is rolling over in her grave!
Champion mortgage is demanding i buy fema flood insurance because a portion of the land is in a flood zone. not the house the land. their policy. the house is all that will be covered under this policy no trees bushes which is the back side of property. whiy should i buy a high dollar fema policy to cover land that the insurance company will not pay if its damaged. no one seems intereste in the house, got to have coverage on property, fema has charged about 500. per year, now the want me to pay 1980. per year to cover the land portion, that will not be covered. but their will to take 1980.00 dollars and say your covered. The insurance company i have used since 2006 they will write the policy but the land is still not covered.
any one have a thought on this one. i have about 2 months, my income will not match that.
All of the above
Without going into detail, I experienced 90% of what others are saying above.... Stretched out the sale of my Father's home so long that they demanded a second appraisal months into the sale... Naturally the sales price then went up... The house was in the family trust, my brother, a member of the trust was purchasing, it was an all-cash sale.... it took FIVE months and having to worry about a pre-foreclosure notice we got about a month before the sale closed. Insult to injury? Because they stretched out the sale so long, I'm on the hook to file taxes for the trust again this year.... I was supposed to have received a 1099C form from them by 01/31.... never came. Tomorrow will be day THREE on the phone with these crooks trying to make them send a simple tax form! Do NOT let anyone you love do business with these people - have yourself appointed conservator if you have to, but do NOT let a loved one do business with this organization.
Nationstar Mortgage Company PREDATORY/they said he was not disabled and forged his name. they said he received 2,250.00 per month. his disability benefit sheet for the year showed his income was only 740.00 per month at the time. they changed the figure right in front of him. did not understand. Lewisville Texas.
When my Mother passed away, I contacted Champion Mortgage within two weeks to discuss paying off her reverse mortgage. They would not discuss the loan until I provided proof of my Mother's death, which they already had because they sent me a letter stating so, along with documentation that I was the person responsible for the estate.
Over the next two months I received bi-weekly letters from them stating that the loan is now due. I sent them a letter of intent to payoff the loan along with all the requested information. The harassing letters continued along with letters taped to the front door of an empty house with the word Confidential in bold letters signaling to any burglar that nobody is home.
They continue to send registered letters stating that I have not attempted to contact them when I have both a paper trail of faxes and letters sent along with a complete log of every time I have called them.
In the course of trying to refinance this reverse mortgage when the title company called, Champion Mortgage would not provide required information without my intervention.
When the company refinancing my mortgage, a very reputable well-known one, tried to contact them they were told they no longer had that reverse mortgage.
When I provided my refinancer with the the reverse mortgage information and a payoff letter was requested they were told it would take 7-10 business days to provide a payoff letter. Meanwhile the expiration date for my refinance is approaching because we cannot obtain a simple payoff letter from Champion Mortgage, somethingg that any reputable company should be able to provide in minutes.
I don't know what to make of a company that demands immediate payoff but makes it impossible to do so because they will not provide a payoff letter to a nationally known and advertised lender.
One thing to note. They refuse to do any communication via fax or email. Only by phone. But, of course, when one does so by phone there is no legal record.
This company seems focused on doing everything they can to make sure that a reverse mortgage always goes into foreclosure.
Wait for the Pay-off
After months and months of threatening phone calls and registered-return-receipt letters, I finally sold the family home to "pay-off" the reverse mortgage. Now they are in no hurry give me a "pay-off amount". It seems that this is a common practice with Champion ( subserver Celink ) They wait until after the beginning of the next month that the request has been made before they " calculate the pay-off amount" That way they charge you another month of interest on interest on interest. That is illegal. How do we stop this unethical practice???