Mortgage -- Trouble during payment process -- Complaint #4988891
Complaint Overview
Complaint ID: 4988891
Company: Novad Management Consulting, LLC
Product: Mortgage
Sub-Product: Reverse mortgage
Issue: Trouble during payment process
State: Tennessee
ZIP Code: 38114
Date Received: 2021-12-08T12:00:00-05:00
Date Sent to Company: 2021-12-08T12:00:00-05:00
Company Response: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Submitted Via: Web
Tags: Older American
Consumer Narrative
I entered into a contract XXXX with XXXX in XXXX, TN placing my home in reverse mortgage. All went well for some years. The contract was then sold to XXXX XXXX and continued to do well. The problem begin with the contract was sold to another company which is the current company I'm dealing with now which is NOVAD Management Consulting LLC ( 2015 ). With the previous companies prior to NOVAD, I received monthly statements indicating the status of my contract. I stopped getting statements from NOVAD mid year XXXX. Many attempts were made via phone calls and letter to try to get information on what was going on with my account. I will attach a copy of the letter sent to NOVAD requesting information - but never got a response by mail or call. NOVAD statements has information about " Set Asides '' costs- never explained what it is. After speaking with a NOVAD representative in XX/XX/XXXX, I was told that its possible that the reason for not receiving statements was for non-payment. I need answers on the status of my account and documentation that they paid six ( 6 ) months worth of taxes. Taxes in XXXX XXXX XXXX XXXX are not paid monthly only paid annually. They never paid any taxes- they never showed me any proof- nor did the Tax Assessor 's office only shows that I'm the only person paying taxes.
Frequently Asked Questions
What is Complaint #4988891 about?
Complaint #4988891 was filed against Novad Management Consulting, LLC regarding Mortgage specifically about Trouble during payment process. It was received by the CFPB on 2021-12-08T12:00:00-05:00.
How did Novad Management Consulting, LLC respond to this complaint?
The company responded with: "Closed with explanation". The response was timely.
What is the risk level of this complaint?
See the risk assessment section for details on this complaint's risk profile.
How do I file a similar complaint?
You can file a complaint with the CFPB at consumerfinance.gov/complaint. Select the appropriate product category (Mortgage) and describe your issue in detail.
Can I see other complaints against Novad Management Consulting, LLC?
Yes, visit the Novad Management Consulting, LLC company profile at readthecomplaint.com/company/novad-management-consulting-llc to see all complaints, risk scores, and analysis.
Disclaimer
This analysis is AI-generated based on publicly available CFPB complaint data. It does not constitute financial or legal advice.