Legal Question in Credit and Debt Law in Florida

My sister and i applied for a reverse mortage. The agents and closers are not returning phone calls They are telling us that the majority of the loan goes to pay property taxes and insurance. They won't tell us how much in cash we are getting. They claim they need to set money aside for property taxes etc, instead of the full loan amount. Is it legal to do this? and are we held responsible for a loan we haven't closed on ye?


Asked on 10/26/15, 8:41 am

2 Answers from Attorneys
David Slater David P. Slater, Esq.

Not if you didn't sign.

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Answered on 10/26/15, 8:43 am
Lucreita Becude Lucreita D. Becude, P.A.

you are being scammed. Find another banker ASAP and call an ATTORNEY!

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Answered on 10/26/15, 11:00 am


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