When a reverse mortgage may be a scam
There are times when homeowners should run the other way- or simply hang up the phone if they encounter any of the following when being presented with a reverse mortgage.
Reverse Mortgage Scams
MSN: 9 Reverse Mortgage ‘Scams’
MSN: Because reverse mortgages can be a ready source of cash, fraudsters might encourage seniors to apply by making misleading claims or committing outright fraud. Some pitches include:
Scare Tactics
Many seniors are becoming wise to telephone scams telling them they’ve just won a sweepstakes, they probably feel they can trust what they read in Time magazine, or what an elder abuse attorney shares in a letter. Both recent scenarios entail gross misrepresentation of the reverse mortgage industry — and
