Facing a Reverse Mortgage Foreclosure with Bony? Celink? Reverse Mortgage Solutions? or Nationstar?
Aug. 18, 2021
Very few attorneys - in fact - less than five firms across the United States truly understand how to litigate reverse mortgage cases.
Most attorneys believe that the “no harm no foul” approach is the best result for their clients when handling these reverse mortgage defense cases. This stance does little to bring about justice.
Many times, borrowers with a reverse mortgage that predates 2015 are made to believe - by misinformation from the servicer, Celink, Reverse Mortgage Solutions, or Nationstar Mortgage LLC (doing business as Champion Mortgage) - that they are required to sign an annual certificate of occupancy. This is not true. Nowhere in the Mortgage or Note is there any requirement that a borrower shall execute an annual certificate of occupancy. Instead, all that is required is for the borrower to occupy their property as their principal residence.
In many instances, the servicer, Celink, Reverse Mortgage Solutions, or Nationstar Mortgage LLC (doing business as Champion Mortgage), will incorrectly claim that the borrower homeowner has “ceased occupying” their home on the mere basis that the annual certificate of occupancy went unreturned. However, Celink, Reverse Mortgage Solutions, or Nationstar Mortgage LLC (doing business as Champion Mortgage) will quite often have communication with the borrower homeowner - many times by telephone.
Even with communication from the borrower homeowner informing Celink, Reverse Mortgage Solutions, or Nationstar Mortgage LLC (doing business as Champion Mortgage) that they are occupying the their property as their principal residence, a foreclosure is still filed. Then - to make matters worse - the borrower homeowner is served with the lawsuit at their property, the same property alleged to be unoccupied by the borrower homeowner.
When this happens, potential causes of action arise where the borrower homeowner can take an affirmative approach to hold the bank and its servicer responsible for their wrongfully act in foreclosing.
If you or your loved ones find yourself in this situation, please contact The Town Law. Our reverse mortgage attorneys and reverse mortgage foreclosure defense attorneys can help!