HELP Freedom Financial Reverse Mortgage HELP!

[Blake Crawford]

Hello! I am trying to find some assistance from someone who has worked with Freedom Financial. I have a client in a desperate situation on a fix and flip property. If anyone has any insight fell free to pitch in.

Long story short,

Clients parents got reverse mortgage from Freedom Financial, both now deceased.

After both parents passed away heirs to the estate signed the deed back to Freedom Financial. At the time Freedom Financial was going out of business and was bought by another company. During the transfer of company ownership the deed was never filed and title never legally transferred.

Now (4 years later) the client wants to sell the property, is unable to afford to probate. Freedom Financial (and its parent company) has been giving my title company, my short sale attorney, and myself the run around. They refuse to give us a pay off with out speaking to the original borrowers even after faxing over a death certificate. 

The other challenge is even if the client pays $2500+ for probate, she is facing property tax foreclosure soon, the sale might not go through, or the financial company might not approve the short sale (95% of appraised value). Let alone we have zero idea of what the bank appraiser will value the house at. After 4 years of neglect the property is now either a complete tear down or very big remodel.

At this point should we all walk away and let the bank take it back? HELP