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Community Rallies To Save Seniors Home With Reverse Mortgage (Update)

Last week we wrote about how 72 year old Lorraine Zickefoose’s home was scheduled to go up for auction because she fell behind on her payments with Wells Fargo Home Loans.  The woman had applied for a reverse mortgage with John Smaldone’s AAXA Mortgage and was approved, however due to falling property values the she is about $38,000 short.

Smaldone along with Ms. Zickefoose’s church organized a carwash/fundraising event and was able to raise $4,361 over the weekend.  While they still have a long way to go, there are some other positive updates to share.  Below is a copy of an email that Smaldone sent RMD:

Due to all the publicity from places like Reverse Mortgage Daily, Ms. Zickefoose’s story reached Wells Faro’s headquarters. I received a call on Tuesday from Afsheen Alam, Special Resolution Team Loss Mitigation. They are willing to negotiate a settlement.

I sent a complete package to Afsheen so they can do another analyses, I did make them new offer. I will update everyone as to how much has been raise very few days.

Lets just hope that everything continues moving forward and if any RMD reader from Wells Fargo helped move this along, thank you.