[WSBAPT] RMS problems during probate

[Philip N. Jones]

I do not have a solution for you, but I wanted to thank you for posting this sad story.  I have always been nervous about reverse mortgages, and your story gives me one more reason to be nervous.  Thanks.
Phil Jones
Portland OR

From: wsbapt-bounces at lists.wsbarppt.com [mailto:wsbapt-bounces at lists.wsbarppt.com] On Behalf Of Robert R. Cole
Sent: Monday, June 04, 2018 2:11 PM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: [WSBAPT] RMS problems during probate


Colleagues:   The PR has had a terrible time dealing with RMS (Reverse Mortgage Solutions).  Even though he informed them immediately of her passing, and that the house would be quickly marketing and sold, and got insurance on it, and it obviously had a lot of equity in it, and he did everything they asked, and there was a quick sale, they still almost immediately put the reverse mortgage into the foreclosure process, and submitted in the payoff statement  $4100+ of excess charges to be paid at closing (which he did under protest).  They rebated about half, and are apparently unwilling to reimburse the rest, all of which was totally unnecessary, as his  long email chain would attest.

Have any of you had the same experience?  Is this RMS's SOP???  If so, this is ripe for a consumer protection action at the least.  Contacting me directly is fine.
--



Very Truly Yours,
Robert R. Cole
Law Office of Cole & Gilday, P.C.

10101 - 270th St. NW
Stanwood, WA 98292
(360) 629-2900 (Telephone)
(360) 629-0220 (Fax)

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