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Don't allow anyone to get a reverse mortgage unless they obtain in writing that the account will never under any circumstance be sold to Champion. Their duplicity in our experience was in my opinion was criminal.
I am handling my uncle’s estate, and this reverse mortgage company has been a nightmare from the start. One week after his death, a local agent was at his door. Every two weeks there is a new urgent demand on his door, even though we have been in constant contact with the company. The house is now in the process of being sold, and I cannot for the life of me get a payoff figure for the closing. Absolute horrible customer service and very frustrating to say the least.
Champion Mortgage sent a refund check in my deceased mother’s name. I contacted them in Dec of 2018, told them the check couldn't be deposited and asked could they reissue the check made out to the estate of my mother. It's now the end of April 2019 and no check has been reissued, just one excuse after the other. After reading other post, and looking at the dates; it's really troubling that this company is still in business. Shame on Champion Mortgage and the banks our love ones trusted that not only sold their reverse mortgage, but added to the pain and grief caused by losing a loved one. UNBELIEVABLE!!!!
In reading the comments that have been recorded, I find these individuals are telling the truth. However, in as much as we don't want to believe it, when our love ones make a decision to borrow off of their equity, it's not a great thing. I still don't understand, why do you have to pay interest on something that you already owe. The equity has been paid for and you have to pay interest on what you have already invested in. It's the entire system. This is not a great program at all. At the end of the game the family end up having anything. I feel all that is being said because I myself is going through the process right now. I did all I could to communicate to the company. My mother passed away on October 22, 2018. It was a difficult situation. All we need to do is to write HUD who is the one that has the rules and regulations regarding the reverse. We have to defend our cause in a class action suit against the company.
How can these people sleep at night? Our family home fell into foreclosure and we were given a date of public sale. However NO notice ever went on the home or any verbal/written communication in regards to when we needed to vacate the home. We come home to a locked home as we are trying to get our things out! As if the situation isn't stressful enough, now our personal items are locked in by this company! We were threatened not to be on the premise or we will be arrested! No one would return our calls or help us to be able to retrieve our things! Then, a for sale sign goes up!! Thank GOD for the realtor as she helped us! Karma is a real ** and I hope this company gets what they deserve!!!!
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My mother got a reverse mortgage and when she passed away last year we were told we had time to sell. We were given 6 months from Oct. 2018 but just found out they foreclosed and sold the house at auction with no notification to the executor of the estate. Illegal practices going on here to take homes from unsuspecting average families. Run while you can.
My father quit claimed deeded his home in 2003 to my sister and I. Then, in 2010, after double amputation of his legs, he needed funds from his home. He took out a Reverse Mortgage with MetLife who in turn sold it to Champion who has Nationstar as their "servicer." (What a joke that title is!) The mortgage documents had my sister and I as "borrowers." My father didn't really own the property anymore, we did. When my father passed away in 2017, Nationstar immediately claimed the note due and payable.
My sister lived with my dad for the last seven years of his life, taking care of him, taking him to doctors, etc. putting her life on hold for him. We intended, and still do, to sell the home. Nationstar and their misinformation machine have us running around with their "you didn't pay the taxes..." We did. "You don't have homeowners insurance..." We do. And of course, the letters saying they're foreclosing. The same as most of the articles in this forum.
The thing that's different with our situation is that the home is my sisters' permanent residence and we actually were on the note as borrowers which never should've been the case as we were not aged 62 at the time. They have filed suit with their high powered attorneys to foreclose and we have been forced to hire an attorney with money we don't have, to defend ourselves against this predator! Our debacle was that the Reverse Mortgage documents and loan were screwed up from the very beginning and now we're paying for it! Run. Don't walk away from Champion Mortgage and Nationstar!!
If you are considering a reverse mortgage with this company please have family members sit down with you and this company before any decisions are made. I feel like this company talked my grandmother into making the worst decision ever. What she basically did was sign her home over to this company and they fed her tons of lies. Now upon her death, the option of purchasing the home is impossible especially when no one with the company tells you the same thing. You get something different every time you call and they withhold information.
I had my house on Reverse Mortgage with my bank for a long time, all of a sudden they sold it to Champion Mortgage and after a while I began having problems such as even though I sent them all the required papers as I have done in the past with the bank SOMEHOW they never received them. After that I called several times to see if they were filed. Spoke with several representatives in Cust Serv and after a while they found them. I have the names of people I spoke with and dates. I was told that they have several Fax numbers (given to me every time I had called) and that since they are in different departments they were not acknowledged.
Yesterday my daughter received a package harassing her about the debt who lives in NY bypassing me that live in Miami in my Rev Mort house. My agreement with the bank, done at an Attorney's office was that once I died my beneficiary (my daughter) will have a year to either take a mortgage on the house or lose it. That is the only thing you'll find my signature on. I would like to add myself to the list of the Class Action Case against such Co.
My dad was coerced into taking a reverse mortgage in November of 2011. It started out with MetLife and was "sold to" CHAMPION MORTGAGE. He was told by a fast talking agent from Proficio Bank that the loan he had was questionable. So he changed lenders. The ink wasn't even dry on the loan papers (100 pages of screw you borrow and family) when it was 'sold to CHAMPION MORTGAGE'. The fact of the matter is that there is only 1 reverse mortgage bank and that is CHAMPION. The bank is NATIONSTAR/CHAMPION. Nationstar does loan modifications and Champion does the reverse mortgages. Believe me these people are crooks!!! There is nothing sleazy enough that they won't do!!! They don't have any regard for the borrower. They keep trying to get you to borrow money from your equity. But the real nightmare begins when the borrow dies.
O.M.G. My dad passed away on Jan 2 and on the 29 they were on the phone demanding payment by Feb 1. I managed to hang on for a while trying to get financing on my own (to no avail). The whole time they were on the phone, sending threatening letters, and sending people around to make sure that the house wasn't abandoned. Meanwhile, the interest was sky rocketing... interest on interest on interest. The mob needs to be stopped. Why are they harassing the families for the money? First of all, we are not just a loan #! We are people that are having to deal with the death of a loved one and financial problems that arise. Why are they so worried about getting the money (or property) back right away? They have make so much money in interest already and MOST IMPORTANTLY the loans are HUD INSURED... meaning that if the borrows estate defaults, the government agrees to repay the loan!
If there is a class action lawsuit against CHAMPION, could someone enlighten me as to how to get into? I feel like after over $130,000.00 in interest for barely 5 years and all the threats, harassment, and humiliation I was put through there should be some remuneration for me. Tom Selleck should hang his head in shame to hawking these treacherous loans!!!
Reverse mortgage servicer who acquired BofA mortgages. Incompetence, arrogance just a couple of shortcomings. Charging me because they changed their mailing address, didn't notify insurance company, allowing them to attempt forced policy because they were too incompetent to preclude such a situation affecting a customer.
Homeowners who had their “reverse mortgages” transferred from, Wells Fargo to Champion Mortgage need to please, “heed my warning” & find another mortgage company asap otherwise, they will defraud you and/or your loved ones out of thousands of dollars “as, they did with, my deceased mother’s reverse mortgage which, was transferred on September 1, 2017”. My mother passed away at just 72 on September 29, 2017 in a skilled nursing facility on Hope Hospice “never knowing her mortgage was transferred to these thieves who, within a few short months would add $ 13,339.90 to the payoff & attempt to foreclose on her home during, probate”.
At transfer $197,862.34 was owed & had only the regular monthly fees of approx. $481.00 been charged then, the payoff would had only been approx. $203,634.34 but, instead, the payoff on August 24, 2018 was $ 211,202.24 which, on Wed., August 21st Champion Mortgage advised the closing company that, the payoff would be $210,772.24 “as of 8/31/2018” & within an hour of closing on Fri., August 24th I was called back to the closing company as, Champion Mortgage sent a fax stating “they were adding an additional $430.00 the payoff & if, not paid they would foreclose”.
Now, I’m the sole beneficiary to my mother’s estate (her home of 25 years was all that was left) but, unfortunately due to circumstances beyond my control I was not able to gain access to the property until, May of 2018 but, once in I found documentation “listing Champion Mortgage as, the new company servicing the reverse mortgage” along with, documentation from, Wells Fargo stating “I was my mother’s alternative contact person & this information was sent to Champion Mortgage” yet, they "Willfully failed" to ever even attempt to contact me. I immediately met with an attorney to begin the probate process as, well as, a real estate agent to list the property for sale & made my initial call to Champion Mortgage on May 15th in which, I spoke with, a Siobhan whom “advised me as to how to proceed; the documentation required by, Champion & that, I wanted to send this information asap before, the started any foreclosure process”.
I provided Siobhan with, my contact information (which, was the same as, they already had on file); my email address in which, she would send the payoff amount (I did receive this on May 18th with, the payoff “as of 5/31/2018” being, $203,255.01) & she also, advised me to expect a letter from, Champion Mortgage in acknowledgement of my letter of intent. So, the following day, May 16th & “multiple” times thereafter, I faxed Champion Mortgage as, instructed “a letter of intent providing written expression of my desire to sell mom’s property in Florida/pay-in-full the outstanding balance on the reverse mortgage loan; provided mom’s certification of death; last will and testament as well as, the listing agreement with, RE/MAX realty”.Well suffice it to say “I never received any acknowledgment from, Champion Mortgage re. receipt of my letter of intent; the real estate agent contact (as, initially we had a residential contract for sale and purchase in place on May 23, 2018 which, unfortunately fell through) or the probate lawyer’s contact with them”.
Champion Mortgage not only, ignored our contacts but then, proceed to file for foreclosure; pretended the certification of death they filed on my mother “did not have myself, her daughter the informant’s contact information on it (which, was the exact same contact information they had received from, Wells Fargo when, my mother listed me as, the “alternative contact person”) as well as, pretended that, they never knew a case was filed in the probate court!
So, when all was said & done Champion Mortgage’s deceptive business practices allowed them (from, my initial contact on May 15th) to add/collect an additional $7,947.23 in “multiple” property inspections; legal fees; county recording fees with more than, half of the fees being, listed under “unscheduled draws/corporate advances (with, no explanation of the use for these fees)”. You would think when seeing the amount of class action lawsuits that, have been filed against Champion Mortgage aka Nationstar that, they would change their unfair and deceptive practices in attempts to defraud thousands of elderly clients but, I guess nothing will stop these big corporations until, they are completely dismantled!
It is so sad that almost everyone here has the same comments about these scammers. So very true every time you call it's never possible to speak to the same person, and indeed each person you speak with gives totally different information. They are abusive and flat out liars. Their aim is to make this a difficult situation and steal seniors' homes. I have had my home 34 years and these liars sent me a repayment agreement for little over $3000. Then a manager claims no way they could have sent me that agreement because my balance ($10,000.00) too high for repayment.
I sent agreement and payment early. They cashed my check which they swore they never received, then filed foreclosure for guess what??? $3,000.00. Now they are charging me $4000.00 legal fees for foreclosure for the amount in the agreement. They are making it so I can't repay and they foreclose my home I have had 34 years. This is criminal and we need to call on the government to do something. They cannot allow seniors to be taken advantage of in our latter years. If anyone would like to discuss a class action suit or joint petition to the government let me know.
There seems to be a misunderstanding in who owns my house reversed long ago and Champion Mortgage, they are merely bill collectors and are abusing elders. I have their statement that they conducted an investigation and they are not guilty of elder abuse. That was good and all I needed. A smarmy fellow believes he is the owner of my house. I believe Fannie Mae is and that has never changed.
Champion Mortgage duties amount to having me sign a federal form that I am still living in the house. I had to send two forms in this years and was told it was a federal offense to lie on a document of their own making. Today I received another harassing letter stating they need to know my homeowner's association, none, a company where I send property maintenance payments, none, in order to obtain specific information and/or documents for the purpose of effectively servicing your, my loan for the property listed above.
I have already warned them it is not in their best interest to threaten or intimidate the holder of two fed IDs. They have one duty, that I am living here, have always had full insurance on my property, have paid my taxes and mowed my lawn. That is all. Apparently they have taken it on themselves to make new federal rules for the purpose of directly harassing elders. I doubt if the last letter is legal. Last time was a warning. This time they will be crushed from a federal level. They will be in court until eternity begins.
They specialize in taking houses away from people who did not get trained properly when reverse mortgages began. When rules changed they were some thieves who misrepresented the Fannie Mae contract. This caused a problem when a husband and wife did not have themselves on the deed. You can talk to a guy named **, Customer Relations Specialist, Champion Mortgage, P.O. Box 612877, Dallas, TX. 75261-9741 1-655-683-3095 email **. Don’t expect an answer to your call or a reply to your email.
Champion Mortgage is run by rude, scam artists. When you call you NEVER get the same person, everyone tells you something different. My dad took out a reverse mortgage in 2008. I did not know this. He took it out on his home but my home is on the same piece of property. I have lived there since I was 9 months old, I am now 57. My dad was hospitalized in mid 2015 and when released he came to live in my home due to dementia. In November 2015, there was a fire in my dad’s home $100,000 worth of damage. The insurance company has yet to release the funds so that Home can be fixed.
Over two and a half years dealing with these morons. My dad passed away in 2017, I have been fighting with them to release the funds, still no money, they say we never submitted the proper paperwork for claim. We submitted numerous times, we have all certified sign mail receipts. It took me 4 times of sending in my POA until they said they received... I notified them of my dad’s death and sent in death cert. They say they have no record of it, now we hired a lawyer. Champion says I have no right to know what’s going on or any say in it. The house is now in foreclosure and it’s on the entire property. My husband and I are fighting with everything we have. If we don’t win we will be on the street with nothing... These people are morons and scammers... Going to local NJ news station to try and get an investigation started.
My reverse mortgage was switched to Champion from Wells Fargo. I got a letter from Champion stating we had not paid the taxes on the property. I called and talked to a customer service rep and she put me on hold while she was kind enough to call my county tax office to verify they had been paid. She said she would pass the information on to the tax division. About a week later I got another letter stating my taxes had not been paid. I called again and got a very nice fellow who was absolutely no help at all. It seems the "tax division" is set up not to take incoming calls so I could not talk to anyone directly. Finally I had to contact my county tax office and they sent me a copy of the paid bill so I could fax it directly to Champion but I am in doubt they will process it, as it seems they want to pay the taxes and charge me an outrageous fee even though the taxes are already paid.
I am a 76 year old retiree who has lived in this house for 41 years and I worry constantly that they will find a way to evict me. I have sent them checks to pay down the amount owed but the checks are never cashed. Champion has a terrible reputation but Wells Fargo went with them instead of a reputable company - I don't know how they could be so careless. Seems Wells Fargo is not customer motivated either.
I applied with a company that Champion Mortgage bought out, my husband died 2017. He and I both signed the forms and was on the deed together. He passed away and they took me off the reverse mortgage forms and are now forcing me to move out! This company is a scam DO NOT USE THEM!!! I have filed a complaint with HUD/USDA. I’m leaving a bad review. Filing with the BBB, etc. Please do your research. Thanks. They may remove my review again! BUT I WILL keep posting.
We requested an advance 2 months ago. We faxed the necessary paperwork. They said the check was mailed. We have not received it... so they say, "They reissued a new check". We are still waiting. This has happened in all the times we asked for an advance. In the meantime, the statements keep coming saying we took out an advance, but we have not received any payment.
I had the roof placed August 2017. The roof replacement occurred during the mortgage transfer to Champion Mortgage from Wells Fargo. The first check was endorsed by Wells Fargo and the second and final check to be endorsed by Champion Mortgage. We had to change the name on the check since it was a new server of the loan. Well, it is March 2018 and Champion Mortgage is the holdup of us paying the contractor the final payment. Champion Mortgage has reinvented the wheel when it comes to loss drafts. Why don't the customers have a say in who your loan is transferred to? Champion Mortgage has a horrible record for customer service. It is a different thing every time, I call them. I learned that they only receive document in PDF form, after I have sent nearly 30 documents in JPG. I will contact HUD and State Farm of my complaint against Champion Mortgage. They should not be in the Reverse Mortgage business.
My mother passed away back in April. I have done everything this company has asked and now they are threatening foreclosure. When I call, each rep tells you something different and they kept saying to ignore the letters I was getting as I was approved for an extension. Come to find out, I was never approved and they have hired an attorney to take the house. I have asked for supervisors and they refuse the get them. Now I have an attorney and hope this can be resolved. BTW... The house is on the market to be sold they still are threatening foreclosure. It's enough to have to deal with my mother's death in April and my mother in law's in October... NOW I HAVE TO DEAL WITH LIARS, CHEATERS AND SCAM ARTISTS!!! STAY FAR AWAY FROM THEM!!!
Champion Mortgage has defrauded my mother since 2015 when my stepfather passed away. They have manipulated her time. They have lied to her. They have charged her twice in one month for inspection. They have taken her to court n12 default that you didn't get a paper turned in in time when in fact she did and they want to pay off of 200000 or her to move out when my stepfather only took 4500 in 2008. They have not recognize my mother as a number one spouse. Her home has gone into foreclosure and even passed an auction date. The last three years have been living hell for her and the family. This is my second time I made a customer complaint. Desperately Seeking assistance for my mother. Thank you and have a good day.
My parents passed & had a reverse mortgage with Champion Mortgage. I am one of the daughters who became executrix. We did everything Champion told us to do (in lieu of deed). I thought everything was proceeding as planned because that’s what we were told by Champion until I got a summons by the Sheriff’s Dept telling me I was being sued by a law firm Champion hired to do so. You never speak with the same person which is very annoying, when you do nothing is explained correctly. I needed to hire a lawyer (which is not cheap) but thankfully he resolved my issue in a timely matter. So my advice to everyone is — DO NOT EVER USE CHAMPION MORTGAGE for anything!!! They are shysters to say the least & other choice words I am too ladylike to put on here!
I have been going round and round with this company since September 25 to get funding for repairs in my home. They don't do anything to move their process along unless you call them daily. No one there is very helpful. My damage was done on September 11; I sent them checks from the insurance company on September 25 and October 5. It is now December 1 and I still have not received 50% of the funds for my repairs. They don't let you know the status of your file unless you call them. They found some technical differences in the documents but did not let me know. They were just sitting there with this information without calling me to tell me the technical issue that needed my correction. If I had not had sufficient funds to make up the difference, I would have lost my contractor. If I could give them no star at all, that's what I would do. They don't care about customer service at all. Period. If I had a choice they would not be my service provider.
When my mother's reverse mortgage was transferred from Wells Fargo to Champion she received a letter from Champion stating that the payment schedule would be the same. It is not. I called to (nicely) request that it go back to the old schedule and was informed that it was impossible. I told the representative what the letter said, but she still said no way. This has created hardship for my mother who is in my 90s. There is NO way that this can't be fixed, someone there should be able to authorize fixing THEIR mistake!
My reverse mortgage was transferred to Champion Mortgage by Wells Fargo. They aren't returning my calls and say they don't have my paperwork, yet they accepted a payment in September. I have complained to Wells Fargo and they are checking into it.
I have the same problem getting ahold of them; hung up on, on hold at length, etc. I even elect the callback. They never call back. I send everything certified, return receipt. They are as bad as the IRS! Depending on who I get to talk to, it's always a different statement or answer. Very frustrating! After I send the documents certified, I always follow up with a phone call to be sure they have received it and document EVERYTHING.
Several months ago, I received a form to fill out stating that I still occupied the residence. This is an annual requirement. In years past I have done as instructed and had no problems. This year, I filled out the form and sent it to Champion in their own return envelope as instructed. About one month ago I received a notice that if I didn't return the certificate, I may be liable for the expense of an agent having to come to my residence to verify I was still occupying this residence. So to make sure, I filled it out and sent it as before. Yesterday I received the same threat that if I haven't sent this in within thirty days I would be investigated.
Today I called the number provided in case I had questions. After being on hold for twenty minutes or so, A man took my call. After asking a few questions to verify my identity, he suddenly said he had to hang up because he was having major technical difficulties and I should call right back and someone would assist me. After another twenty minutes or so, My call was dropped. I waited about two hours and called again. After twenty or so minutes, my call was dropped again. Tomorrow I will try one more time to get through and if not I will send it certified with a return signature requested. Then the next step I suppose would be my attorney. I will not pay expenses for someone to come verify that I occupy my residence.
I have been trying to pay off my 97 year old mother's reverse mortgage, to no avail. It takes approximately 45 minutes and 5 hang-ups. Every time I do manage to get a hold of an agent I am told that it is going to take 3 to 5 days to fulfill my request. Of course the request for a payoff is never completed and I am still being charged interest on the remaining amount. I think that Champion Mortgage needs to be reported and investigated by the Security exchange and the senior abuse agencies...
Mother in law passed away June 2015. My husband and I found out she had a reverse mortgage on the house. Before she passed, she said the house was paid off and then got a reverse mortgage. Anyway, we told Champion we wanted to short sale on home but Title company said my husband had to go through probate. We let them know that we are going through probate. We emailed, mailed and faxed court papers of every court hearing. The 3rd hearing, the original judge wasn't there to grant my husband Executor of the Estate and it was extended to the following month. Champion denied the court paperwork my husband got from the probate clerk and proceeded the foreclosure of the home. Our realtor we had called Champion and requested the inside of the house appraised. Champion granted her request. That following Monday realtor called and said the bank foreclosed on the house.
Then August of 2016 my husband went to court and the judge told my husband "DON'T DO ANYTHING WITH THE HOUSE UNTIL I TELL YOU TO" and appointed a Probate Referee as well. We told the bank but they said oh well too late. Got eviction paperwork. Hired an attorney from Saunders Law Group in Corona. Which did nothing I mean nothing to stop eviction. They took our money and Ramon lied and lied to us. We got evicted with nowhere to go, no money, absolutely nothing. No cash for keys. Nothing. Just left myself, my husband, and 6-year-old son on the streets living in the car. Had several people inquire to help us get our house back and the bank's realtor told our friend she couldn't do anything with the house until probate was finished. But that was a lie too. It was sold twice. How can they do that. Probate clerk told my husband he had rights on this. No one wants to help us and what the bank did was absolutely WRONG.
Attempting to pay my burdensome school taxes in a timely manner I was given a runaround. I could not speak to a supervisor but the young lady with whom I spoke repeated to me what her supervisor said. I had sent an e mail with an img attachment of my request. After not seeing the deposit in my account I sent an e mail requiring why I had not received this request. An automatic e mail was returned to me stating I need not follow up with another request for the matter was being taken care of.
Calling Champion today I was told the e mail was no longer available for withdrawal request and if I had read the letter dated June 27, 2017 I would know that. I then reviewed the letter and nowhere did it state e mails were not available. The "customer representative" then advised the e mail was not working and I would need to submit a written request or a fax for the amount I needed. Now I either need to run to the post office and mail this request or find an available fax machine. Pay to get MY money? Poor service.
Champion Mortgage expert review by Michele Lerner
Champion Mortgage has been providing seniors and others with a variety of mortgage products since 1997.
Detailed educational info online: Champion Mortgage’s website has a comprehensive FAQ that offers detailed information about reverse mortgages in general and how their reverse mortgage program works.
Can leave home for up to 12 months without penalty: While mortgage holders have to certify annually that they still live in the home, they can leave for up to 12 months without the mortgage entering repayment.
Direct deposit available: Consumers can get funds deposited directly into their bank accounts each month, making access to loan proceeds easier.
Mortgage transfers: Many consumers find themselves faced with large bills when other banks, particularly Bank of America, transfer their reverse mortgages to Champion Mortgage.
Customer service: Live customer service representatives are not available between 8 PM and 8 AM Eastern Time on weeknights or between 5 PM Eastern on Friday and 8 AM Eastern on Monday.
Best for: Seniors on fixed income and seniors who want to enjoy their later years.
Champion Mortgage Company Information
- Company Name:
- Champion Mortgage
- United States
- (866) 654-0020