Tuesday, December 15, 2015

Champion Mortgage At It Again: Belligerent Bankster Begins Foreclosure, Refusing To Accept 82-Year Old Reverse Mortgage Borrower's Claim That She's Not Dead, Demanding Proof She's Still Alive; Foreclosure Eventually Called Off When Local Media Troubleshooter Intervenes

In Milwaukee, Wisconsin, WTMJ-TV Channel 4 reports:
  • A local woman's mortgage company insisted she was dead and then threatened to take away her home. The I-Team looked into the case to find out exactly what type of protection and rights homeowners have.

    Dolores Olson is very much alive, and she's angry. The fear of losing her home of almost 30 years has been stressful and then some.

    "I never had anybody tell me I was dead," she shared with us.

    Dolores has seen a lot in her 82 years, but this is a first.

    "They said 'well, we know you're dead.' And I said, 'I'm what?' I said 'no I'm not dead. I'm right here talking to you.'"

    A phone call in October from Champion Mortgage changed everything. Her home went into foreclosure status because the company believed she was dead, and Dolores was told she had to prove she's alive. "You sit around thinking well are we gonna get thrown out in the road somewhere you know. Or what's gonna happen?"

    Dolores has a reverse mortgage, offered only to people 62 or older. There are no monthly payments, and the terms for this type of mortgage are different than a standard mortgage. If the homeowner dies, the outstanding balance on the home has to be paid.

    Paperwork from Champion Mortgage said the family had 30 days. Letters were being addressed to "the estate of" Dolores Olson. And according to Dolores' daughter, Cyrene, there were also calls from two different companies trying to appraise the property. "I asked them why and they said 'because it's from the mortgage company. They say the loan is due and payable.'"

    Having no luck with Champion, the family contacted Call 4 Action and then the I-Team got involved. It turns out Champion Mortgage had the wrong person telling us "clearly this was the wrong account." Dolores' home is no longer in foreclosure. A unique situation, but not knowing how to resolve a mortgage issue is common.

    Bill Druliner with GreenPath Financial Wellness pointed out "it can be very easy for folks to shut down or to not really know where to turn."

    GreenPath is a nonprofit that offers free housing counseling. He says if you're not having any luck with the mortgage company a nonprofit is the first place borrowers should go. "There are are free resources available to help. Anybody who's offering mortgage help and is charging a fee for that, that should raise a red flag."

    For Dolores, finally some relief knowing she doesn't have to fight to stay in her home. "This is where I've been for the past 30 years, and I'm not ready to go."

    Dolores and her daughter also told us Champion's customer service reps were belligerent. Something the company stated it's looking into and will provide more training if that's the case.

Links to this post:

Create a Link

<< Home