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Found a $4,800 mistake in my mom's reverse mortgage paperwork last night
My mom asked me to look over her reverse mortgage statement because she kept saying the numbers didn't feel right. Turns out the company had been charging her an extra $120 a month for 'processing fees' that were never in the original contract she signed 3 years ago. I called them today and they tried to tell me it was standard, but I pulled up her closing documents from 2021 and the fee was nowhere in there. Has anyone else caught a hidden charge like this on a parent's loan or mortgage and actually gotten it reversed?
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jason_kelly84d ago
A buddy of mine went through the same thing with his dad's loan last year. He wrote a letter citing the exact page of the contract, sent it certified, and the servicer refunded about $1,900 in bogus fees within a month. The trick is getting it in writing and keeping a paper trail so they can't just brush you off on the phone.
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