Complaint #1510735 submitted on 08/10/2015 relating to American Advisors Group. Complaint relates to Mortgage Reverse mortgage - Loan servicing, payments, escrow account .
Complaint was submitted via Web and sent to the company on Monday 10th August 2015.
In XXXX 2014 I obtained a reverse mortgage on my home with AAG. I am attaching various items of correspondence detailing the exact nature of my complaint, as my daughter prepared a very comprehensive letter that specifically explains the issues in the proper chronological order. I believe that AAG may have deliberately pressured me into entering into a mortgage with a Repair Rider ( which I expressly objected to several times prior to settlement ), and then provided advice and assistance intended to steer me toward default. The agent I worked with to initiate the loan advised me repeatedly after settlement that commencement of repairs was unnecessary as he had alternative loan products that would be available to me after my new loan had been in place for six months. When the time came to move forward on those assurances, he disappeared with no further contact being possible. I then obtained an extension from AAG and explained that extreme weather conditions were preventing contractors from scheduling my repairs until after XXXX XXXX. An extension was granted until XXXX XXXX ; as I feared, circumstances beyond my control resulted in the need for another extension. I contacted AAG and was told to submit my request in writing, which I immediately did. When I called back to check the status of my request I was told by the supervisor of the Reverse Mortgage Servicing Department that she did not submit it to HUD for a decision. Her response to my questioning of this was that she did n't need to do so because she knew they would deny it. I feel this company quite deliberately acted in a manner intended to lead to my breaking the terms of the settlement contract, resulting in default on the mortgage.
| Company | American Advisors Group |
| Complaint ID | 1510735 |
| Date Received | 08/10/2015 |
| Product | Mortgage Reverse mortgage |
| Issue | Loan servicing, payments, escrow account |
| State/ZIP Code | AR 729XX |
| Consumer Consent | Consent provided |
| Company Public Response | |
| Company Response To Customer | Closed with explanation |
| Submitted | Web 08/10/2015 |
| Result | Timely Response: Yes, Consumer Disputed: No |
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