2 Sep, 2021 → by ClaimboUser230959
Reverse mortgage

1

NOVAD took over the servicing of my reverse mortgage in Jan 2020 and my statement has been incorrect from the very first statement NOVAD sent. They acknowledge my balance is significantly overstated but refuse to do anything about it. It has been my practice to call them every month when I received my statement. Now they have cut off my statements so I can't tell what my loan balance is. Wait times to get through to the HUD service center can be over an hour. From what I have read in these complaints it appears I'm going to have to sue NOVAD to get this corrected. It's outrageous that a mortgage servicer contracting to service HUD mortgages can't even send out a correct statement. I know that if I don't get this resolved now getting a correct payoff will be a big issue when I sell my house.
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