Reverse Mortgage Funding LLC – Bloomfield Branch

RMF and its parent company RMIT filed for Chapter 11 bankruptcy last month and laid off most of its 500 workers after stopping all loan origination activities earlier last month
Nov 23rd, 2022

Mom had a reverse mortgage with AAG that was sold to RMF after she died Since then we have had nothing but problems Every month they tape a note marked Confidential to our door, how embarrassing! We have been in constant contact with them but they don't care They want to know what's going on with the house They can't see the for sale sign that says SoldWhile most reverse mortgage companies can send a payoff letter in three days, RMF has taken weeks and now they delayed the closing of the house by an ok ther 5 days Zero stars Don't get a reverse mortgage at all because once you sign the paperwork they can sell your reverse mortgage to a company like this
Jul 23rd, 2022

Do not do business with this company. They have engaged in predatory lending against my father. He is 85 years old, lives alone and has moderate cognitive impairment. He gets easily confused, disoriented, and is vulnerable. September 17th he called to say he was thinking about doing a reverse mortgage, asking if I would help in the decision making process. He was to send me the closing documents before signing. I received the documents from Jason Margelefsky of Reverse Mortgage Funding LLC on Friday September 29. I reviewed the documents and spoke to my father on Saturday the 30th. We discussed the decision, one that involves him contemplating his health and mortality, and he stated clearly that he needed more time to decide, that he was feeling pressure by Reverse Mortgage Funding to decide and had been given a deadline on Monday, October 2nd to sign closing papers. I advocated that he have as much time as needed in making such a large and difficult decision. I called Jason and we discussed the terms of the loan. I let Jason know about my fathers cognitive impairment, his declining health, and future health care needs. Jason seemed only interested in his business and selling the loan- the welfare of a human being, my father, did not matter. Regardless of my concerns, he needed more time to decide. I requested Jason dismiss the closing deadline. He informed me that closing documents had already been signed. I was stunned. My father did not know this. What had occurred? I told Jason that my father believed that he had not signed any final documents and that should be a clear indication of his mental capabilities. Again, he was indifferent, not saying anything. I believe that Jason Margelfsky has engaged in predatory lending against my father, an elderly, vulnerable person. This is a reprehensible act. That he did not have the decency to try to correct the wrong points to culpability. This company should be avoided at all costs.
May 27th, 2018

My experience with Reverse Mortgage Funding and in particular, Jason Margelefsky and his team, was extremely positive. When I began researching, I soon realized that navigating the road of reverse mortgages can be stressful and challenging. Not so with this company! Their knowledge, professional demeanor and friendly assistance every step of the way made the reverse mortgage process an easy one. I will be forever grateful for their assistance and I highly recommend Jason and Reverse Mortgage Funding.
Mar 27th, 2018