iReverse Home Loans , America - REVERSE LOAN MORTGAGE>DON'T DO IT
REAL ESTATE SALE IN HEMET, CALIF. - Complaint
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!!!!!"