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After my home was built, the loan transitioned into a 30-year fixed rate loan at no additional cost. Anthony T. Homeowner – Glendale, CaliforniaThe Home Equity Theft Reporter: Foreclosure Environment "A Total Mess" As Loan Servicers Fail To Address Allegations Of Sloppiness, Fraud
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When he needed to make home repairs, he turned to reverse mortgages after. Including fees and penalties, his loan servicer says he now owes more than $20,000.. “Now that asset, that equity, is being drained out of some of the most. in claims paid out to reverse mortgage lenders since the recession.