Mutual of Omaha Reverse Mortgage

I have been looking for a reliable reverse mortgage company. I have been through the application process with Mutual of Omaha. During the process they took my credit card information knowing that I had not made a decision. They without notification charged my card $300.00 for an appraisal.

I stupidly signed a lot of paperwork - timing of fees was murky. In my undecided circumstances or any circumstance people should be informed of the timing and amount of the charge and asked for permission to take the money...I would have said NO.

I have cancelled the application, am disputing the charge/cancelled credit card. Word to the wise - review the application with a professional not the bussiness who is responsible for the contents.

DO NOT GIVE CREDIT CARD INFORMATION. BE SURE THAT IF THEY ARE GOING TO BILL THAT YOU ARE NOTIFIED AND HAVE RIGHT TO REFUSE or put on hold. No way can I remember all the paper details, (think that is on purpose).

Next thing I know I am surprised with a charge Reverse Mortgages are supposed to help elderly people not rip them off with a million details credit card in hand.

I started reverse mortgage application in Oct. 2021 and it’s now February 2022. I had a life threatening illness which put me off of work for 5 mos. It happened suddenly and I knew I would need the reverse mortgage to tide me over until I could work again.

I had a loan person for a month and then switched to another loan person and then again to another loan person who didn’t answer calls nor return calls. Appraisal done before Thanksgiving 2021. I was promised close date by Thanksgiving Christmas End of Jan 2022 End of Feb 2022.

Suddenly, when the promised dates to close arrived, the underwriter had questions which I answered and then they started repeating the same questions I had already answered. When asked why these questions hadn’t been asked months ago I received no explanation.

I received no explanation why we didn’t close Christmas. Meanwhile, my utilities are 3 mos behind, etc. I am in worse financial situation now than when I first contacted them. Incompetence explains some of this but the angst I suffered every time I was to close and didn’t is inhumane.

I would never recommend using Mutual of Omaha for anything. They did everything they could to prevent what should have been a timely closure.

OK to start with everything was good BUT as soon as we signed the papers it all went down hill. We have been told for the last 10 days that we would have a check and we are still waiting...

So if you want to be really pissed off and pissed on go with them but if we had to do it again I would go with ANYONE other than them. Right now we are seeking an attorney to take our case.

Like one other complaint of having to wait 3 months and still no answers. If that is bad then what's mine, I been waiting over 5 MONTHS. I have called but no answer so I left messages. No return call.

I have had a reverse mortgage before and I believe it was closed in 3 months . But it wasn't with you guys, in fact I placed the application with AAG, that might be why it's taking so long. I am so frustrated now. If I could back out of this I believe I would. Joseph **.

We start the process for a Reverse Mortgage 3 months ago and STILL we don't have an answer. The agent is very nice but according to her -when she answers the phone-"she does not know what is wrong because the UW does not tell her" ??? That means being professional???

This is the way that Omaha "helps people"??? Why we can not get a decision bad or good??? The UW simple does not care, but not only her/his, also the whole staff.