I can think of no other word to describe what this Nutter asshole is doing to that poor woman.

When a banks tell you how wonderful it is that sends Red flags flying high.

people should beware.

I remember the big push some years ago for student loan consolidation. we had two kids in college, and we were besieged by mailings telling us to act fast and consolidate their loans.

Only at the very end of the long and complicated process, did I learn that the consolidated loans with the lower interest rates would be changed to the same interest rate as the loan with the highest rate. In other words we got screwed and I'm sure many others did too.

I got those letters, no college debt.

It had my spidey sense going off.

If a Republican told me water was wet I would question my own beliefs..

They think because she is weak they will be able to scam her.

Here is what they are doing to her:
"She says Nutter is demanding more than $66,700, plus attorneys' fees - double the amount she was paid in 2007 and more than the appraised value of her home in 2012."

Here is her response:
"Ridge seeks actual and punitive damages, an injunction and declaratory relief for wrongful foreclosure, breach of contract, negligence, real estate fraud, unjust enrichment, attempted conversion and violations of the Unfair Debt Collection Act and Deceptive Trade Practices Act."

Her lawyers seem to be on the ball:
"She is represented by Nanneska Hazel with George Brothers in Austin."

May they screw these bastards to the wall, extremely publicly, and collect the highest possible punitive damages.

May Nutters go out of business and be left drunk in a rotten dive, crying alone into his/their cheap whiskey.

"Ridge seeks actual and punitive damages, an injunction and declaratory relief for wrongful foreclosure, breach of contract, negligence, real estate fraud, unjust enrichment, attempted conversion and violations of the Unfair Debt Collection Act and Deceptive Trade Practices Act."

Nutter has previously been found to violate multiple state laws reagrding reverse mortgages, and entered into a settlement agreement in 2012 that it would change it's practices.

http://www.mass.gov/ocabr/docs/dob/nuttersettlementagreement.pdf

A leopard cannot change it's spots.

They need to be prosecuted and closed down.

There are actually two problems here. First, it appears there must have been language in the reverse mortgage giving Nutter the right to accelerate the loan other than the sale of the property or death of the owner, which are the only two usual reasons for accelerating a reverse mortgage that I know of. Of course, letting the property severely run down so that the lender's security is diminished would be another, but this story says nothing about that. It also doesn't say if the legal action by Nutter includes a demand for acceleration based on the Note and Mortgage, so it is impossible to tell if that claim is true or not.

The actual court complaint seems to be based on the $49.00 in taxes that were paid, but the story doesn't say who paid them. When mortgages are taken out usually the bank has the owner give them permission to obtain tax bills from the town so that the bank can make sure the taxes are being paid because taxes come ahead of a mortgage legally and the Note and Mortgage provide that the owner must pay taxes on time. When the owner does not pay, sometimes the bank will pay the tax and the owner has to reimburse them or be subject to foreclosure and acceleration of the loan. I am guessing that is what happened here.

I don't know Texas law, but I assume it is similar to most other states, where an owner always has the right of "redemption" before an actual foreclosure and eviction take place. So, if Nutter paid the taxes all she'd have to do is pay them back (plus whatever small amount of interest is due on the $49) and everything would be back to where it was. Nutter is obviously trying to take advantage of the situation but I seriously doubt anything will come of this. If I were her lawyer I'd take 49 bucks out of my pocket if necessary, pay back Nutter and move for dismissal. Case closed.

before they were due without informing the elderly lady that they had been paid - so when she went down to the assessors after learning there were taxes due, they told her they didn't need her tax payment.

And then the mortgage company files to foreclose on the property weeks before those apparently paid taxes were due?

Did Travis county send out a notice to everyone that property taxes could be paid online? Or did the lien-holders sign the property up for online billing, knowing there was a good chance than a sick, elderly woman may not have a computer or access to online billing?

Because it sure looks like the mortgage company paid the taxes as soon as the assessors posted the bill online, then foreclosed on her because they paid the $49.00 in taxes to keep the propriety unencumbered for a quick sale after a foreclosure - which they would have needed to pay before the tax assessors would have realized she hadn't paid (because she hadn't gotten the online notification for taxes due) and actually sent her a bill in the mail that she would quickly take care of as soon as she got the notice that her taxes were due.

Scums. Were they not willing to wait for her to pass and the executers of her estate to clear up the lien or release her property to them? Was it that they already had a buyer lined up to start developing the area by the end of the year, and wanted her off her property so they could make a better profit off it? Yeah, the $30K+ profit they were making off her reverse mortgage loan would probably have ended up being $100K+ profit just for kicking her off "their property by lien" and selling it outright - especially since she already had made the improvements on the property necessary to flip it if they had bought it before she took the loan out on it.

Haele

I don't know about Texas, but it appears to me they more than jumped the gun. No matter what the terms of the mortgage are they can't demand an owner pay taxes before they are actually due and probably have to wait until a town declares the taxes delinquent, which most towns (around here anyway) usually don't do until someone is in arrears for more than one tax bill.

They probably counted on her being old and befuddled and tried to take advantage. I don't think there's much chance of them getting away with it (even in Texas) and hope there is some provision in Texas law the forces them to pay her attorney fees.

... property taxes in my state are due at the end of the year and must be in and cleared before New Years Eve. Does Texas require that their property taxes be paid at the first of the year in which they are due? Just curious.

This is an example of vulture capitalism at it's worst. They target the seemingly defenseless elderly. And sometimes they get caught. This appears to be one of those times. They need to be held accountable good and proper. Nail Nutter.