I (daughter) of my elderly sick mom. She signed with mortgage lender @ 2 yrs ago. There's too many red flags. Don't know where to start. First of all. If her basement was & is backing up sewer water, & is in need of so much repairs that basement floods when it downpours. Leaving pools puddles @ fusebox & under her furnace. Yet when she contacts them, they say they don't have to fix anything for her if it will cost them over $150, So basically they said she "needs to find her own plumber she can afford & go with them". Cuz "they are not entitled/ responsible to any repairs"But this company is getting well over $1500 a month from her. Never have they sent her any actual statements. You know like this is what you paid and this is what is owed kinda thing. I feel they're milking her. Everytime she has spoke w/ them she always agrees to whatever they tell her. She won't speak to them she's intimidated.
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Are you talking about a reverse mortgage?
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Your mortgage lender is the lender who lends money for your mother to purchase a home. She then pays her mortgage until that 15 or 30 year mortgage is paid off.
The mortgage company has zero to do with insurance on the home, though you will not get a mortgage loan from a bank unless you HAVE insurance.
Your sewer backup is either a city pipes situation with problems that are common and will be shared with neighbors in the area, or it is a problem with the sewer pipes in your own home.
So the entity settling this, unless there is something unusual afoot here would be your mom's insurance company.
Hope you can clear up exactly who is who and what is what in this so we can understand your situation better. Best of luck to you.
Elderly folks don't qualify financially for anything but a possible Reverse Mortgage. Especially if their income is Social Security and don't have a regular job. If she got a Reverse Mortgage, she doesn't send in payments. Mom could have requested "paperless billing" so she won't get statements mailed to her.
The Lender is never responsible for maintenance or repairs for any home someone has taken a mortgage on. The person living in the home is responsible for repairs, homeowner's insurance and pays property taxes on it, Doesn't matter if Mom is old or sick. Part of owning a home is paying for repairs, which is not fun but the way it is. If you buy a car from a dealership and drive it for 2 years, then need new tires, do you go back to the dealership and expect them to pay for your tires?
Mom needs to call a plumber and get an estimate of the cost to fix her drainage problem. Any other family or friends with construction knowledge could take a look and give advice?
It is not the mortgage holders obligation to maintain the home, it is the home buyer/owners obligation.