SAN CLEMENTE, CALIFORNIA -- I am updating a earlier post about this firm. Sorry that it is so long, but if we the people do not voice how we are being ripped off by others in today's world, how are we to know what to do. This applies to the individual here, who is of the NOW GENERATION and are ONLY interested in SELF PROMOTING THEMSELVES at the EXPENSE of OTHERS!!!!
This company is a subsidiary of Hopkins Federal Bank in Maryland and have people working from their homes across America on Reverse Home Loans. I have posted earlier about my experience with their San Clemente Location and this is a update.
Google "iReverseHomeLoansSanClementeca" you then will be taken to a YELP website with the person's name which we can not post here on my 3 cents. THERE IS A SELF WRITTEN POST about all the things this person can and has done. Personally, I would take 99% if it as BS and it is just a SELF ME PROMOTION that the young people have about themselves today. They really do not care about others, just their own well being doing so at others expense.
As my other post relates to selling a mobile home in Hemet, Ca. and this individual is handling the grunt work for the lender, for which I assume is Hopkins Bank. The Seniors purchasing the property are securing a Reverse Mortgage and escrow was to have closed on July 15, 2012. Well this person, because of their stupidity on how to actually do their job, despite what they say on their Yelp Web Post, has delayed the closing and wants the buyers and I to agree to a August 15th closing now. With the buyers driving from Oregon to Hemet along with their personal belongings arriving July 15th, they asked if they could rent back starting July 16th as we all though that Escrow would be closing within a few days.
Well unfortunately the person at iReverse Home Loans learned that I was going to rent back to the buyers and was now demanding a copy of the rental agreement. I told her it is was NONE OF HER BUSINESS that I was renting back. Well this apparently p*ssed her off and she is now doing what she can to drag the closing out until August 15th. The BOTTOM LINE is that the actual lender did not require a copy of the rental agreement, so again this person is doing what she can to delay the closing of escrow. Her mode of operation now is > the Mobile Home had to have a permanent foundation installed, which was done, inspected by the City of Hemet, signed off July 18th meaning that the foundation met FHA/HUD Specifications and the Documents in her hands July 20th.
Monday July 23rd she tells everyone that it will take her 2/3 weeks to have her inspector go and check the work for which the City had all ready done, had approved and signed off on. Another of her stall tactics to get back at me. With her demanding UN-necessary items the original Escrow close date passed and thus her wanting an extension for 3 weeks. She does not know that I am aware her inspector was going to do his thing today, July 26th, and he with all the modern technology of emailing/faxing documents, can have that in her hands within hours, and she in-turn could send to the lender for approval and have Escrow closed and fund the sale in a day or two.
No, she being SELF SERVANT thinks she is punishing me, but with my knowledge of real estate transactions and persistence, have been able to over ride her demands with the lender agreeing to what I have said. The only exception being, she has delayed the closing of Escrow, and down the road, I will be taking her to court for derelict of duty fulfilling the contract/escrow details.
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REVERSE LOAN MORTGAGE>DON'T DO IT
Posted by Kickass on 07/25/2012
PROPERTY IS IN HEMET,CA., MARYLAND -- I am selling a Mobile Home in Riverside County, Ca. Listed in Dec. 2011 and had a offer on April 15, 2012. Accepted the offer of which the buyers from Oregon were buying it with a REVERSE MORTGAGE. Escrow opened on April 15, 2012 with an Escrow Company specified one mile from the home. Well after several days the lender iREVERSEHOMELOANS a SUBSIDIARY of HOPKINS FEDERAL SAVINGS BANK, in bum F@#K EGYPT said no the specified escrow company. Buyers/Seller had to go with iREVERSEHOME LOANS own escrow company in Northern Ca.
The buyers were obtaining a FHA/HUD Loan, and we all know how we get screwed when the Government gets involved. One of their requirements to sell a Mobile now,is it has to be on a permanent foundation. Only a couple of firms in the Hemet area are licensed to do this, again the public is screwed because there is a MONOPOLY with only 2 companies biddding to do the work. I had to pay $3500.00 for a little bit of concrete to be poured under the mobile. Permits had to be purchased/obtained from the City of Hemet to ensure that everything met the Governments 384 page guidelines for same. Also for the Inspectors to sign the work off. WHAT DOES THIS DO TO THE MOBILE HOME???? IT NOW BECOMES A PERMANENT STRUCTURE (HOME) THUS RAISING THE YEARLY TAXES FROM $290.00 TO OVER $6/700.00. Another GOVERNMENT PLOY, BOTH LOCAL & FEDERAL TO GET MORE TAXES FROM THE PEOPLE.
Escrow was to have closed on July 15th, 2012, and with the buyers moving from Oregon on July 9th, asked if they could rent back starting on July 15th for a few days in case escrow did not close on then. I agreed to this.
Well the lenders local idiot handling the transaction learned that I was going to collect a couple days rent from the buyers. She now says the lender requires a copy of the rental agreement. I told her to go to HELL as it is not their business that I was renting to the buyers. WELL, because of her supposedly POWER, she is delaying the close of Escrow, stating that a new contract is required because the old one has expired, she needs a copy of the rental agreement, and it will take 2/3 weeks to have their own inspector go to the home and look/approve of the work, that had been done, inspected/signed off by a City Inspector. She has the signed off Inspection/Permit from the City of Hemet, but needs to have 2/3 weeks to send her own inspector to check????? Double work and job security for someone. I told her this is BULLS@#T!!!!
It is no secret how people in America have gotten screwed by the banks loosing their homes to foreclosure. Now lenders are promoting Reverse Mortgages to us and Senior Citizens are being enticed to do this with their homes. All I can say is>>> "DO NOT SELL YOUR HOME TO A BUYER USING A FHA/HUD REVERSE LOAN BECAUSE YOU WILL GET SCREWED< SCREWED< SCREWED!!! AND IF YOU DO ACCEPT AN OFFER WHERE THE BUYERS ARE USING iREVERSE HOME LOANS, WELL LETS JUST SAY "DON'T DO IT!!!!!"