HUNTINGTON — A woman is suing Finance of America Reverse LLC alleging it breached its contract with her.
Terra Abstract Trustee West Virginia and Tern & Eisenburg PC were also named as defendants in the suit.
Patricia Jenkins signed a note, deed of trust and truth in lending disclosure in April 2015 to obtain a reverse mortgage on her home, according to a complaint filed in Cabell Circuit Court.
The entire loan process was complex and Jenkins claims she never fully understood what she was signing, but later she discovered the loan terms contained illegal charges, fees and closing costs that were in violation of West Virginia laws.
Jenkins claims she became in arrears in paying property taxes for certain years and she contacted the defendant to make arrangements to repay the delinquent property taxes.
FOA agreed to allow Jenkins to repay the arrears and made the initial payment of $1,500 in December 2021. The plaintiff then signed a contract on Jan. 1, 2022, and fully performed her obligations under the reinstatement contract prepared by FOA, according to the suit.
Jenkins claims despite that, FOA returned the $1,500 payment and sought foreclosure of the home.
"Instead of putting forth a good faith effort to achieve a sustainable payment plan with the Plaintiff, Defendant refused to process the Plaintiff's requests for appropriate loss mitigation, despite inviting the Plaintiff to do so," the complaint states. "Instead, the Defendant pursued foreclosure."
Jenkins claims the defendants caused her to suffer stress, annoyance, inconvenience and fear of loss of her home.
Jenkins claims the defendants breached their fiduciary duties to her and breached their contract.
Jenkins is seeking compensatory damages. She is represented by Benjamin M. Sheridan and Jed R. Nolan of Klein & Sheridan in Hurricane.
The case is assigned to Circuit Judge Gregory L. Howard Jr.
Cabell Circuit Court case number: 22-C-79