Reverse Mortgage Lenders Preying on Elderly Homeowners – Class Action Investigation
McCune Wright Arevalo, LLP is investigating reports of reverse mortgage companies cheating elderly customers. At least two reverse mortgage lenders, Compu-Link Corporation and Nationstar Mortgage LLC, have been accused of charging excessive fees associated with cursory and unnecessarily frequent ‘home inspections.’ These home inspections are sometimes merely drive-by visual inspections, but are in turn billed to the borrower. Reverse mortgages are intended to help elderly homeowners stay in their home as they age. However, borrowers who end up facing foreclosure due to failure to pay property taxes may in turn be subject to additional and excessive fees from the lender.
If you or someone you know has been subject to excessive fees or lending practices by a reverse mortgage lender such as Compu-Link Corporation or Nationstar Mortgage LLC, contact the class action attorneys at McCune Wright Arevalo, LLP.