CFPB-2012-0023 Comment

Document ID: CFPB-2012-0023-0003
Document Type: Public Submission
Agency: Consumer Financial Protection Bureau
Received Date: July 08 2012, at 12:00 AM Eastern Daylight Time
Date Posted: July 20 2012, at 12:00 AM Eastern Standard Time
Comment Start Date: June 22 2012, at 12:00 AM Eastern Standard Time
Comment Due Date: July 19 2012, at 11:59 PM Eastern Standard Time
Tracking Number: 8107f07e
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This is comment on Proposed Rule

Disclosure of Consumer Complaint Data

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I have had a Reverse Mortgage with XXXX since 2005. They are not a hospitable company. Whenever you call, the first thing the voicemail says: This is an attempt to collect a debt. They began by paying off my prior mortgage of $92,000. They then gave us $25,000 for improvements. They paid us $847.00 monthly for 5 years-60 months (totaling approximately $50,000, for an approximate total of $167,000. Here we are on July 8, 2012, with a total of $249,000. due upon death or sale or whenever we move out of the house. Caution before taking a reverse mortgage, you must know that as time goes on, the roof, the driveway, the lawn and other items such as insurance will go up. You will not get willing help from XXX to pay these increasing costs so be sure you can save enough to pay them by yourself. XXX does not have a heart and is unkind to its homeowners in financial trouble. I am now paying them back on a monthly plan for my 2009 real estate taxes and and an exorbitant amount for insurance they charged us for. The additional amount was thousands more than my insurance bill was, but I could not pay it. They are an honest company, but without kindness for their clients. Barbara Greenfield