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Learn about the 10 most common financial scams targeting seniors, including medicare & phone scams, and how to protect yourself from financial exploitation.. The FBI warns about two types of funeral and cemetery fraud perpetrated on seniors. In one approach, scammers read obituaries and call.
Reverse Mortgage Foreclosures On The Rise, Seniors Targeted For Scams – Reverse mortgages, a lifeline for seniors struggling to pay bills in allowing. state and local level to root out these kinds of scams," Cordray said. He described one flier that portrayed a reverse.
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Learn how to avoid financial scams targeting seniors.. a year, possibly more given that estimates indicate only one out of every 44 cases is reported to the authorities. Reverse mortgage scams target the equity in your parents' property.
Reverse mortgage fraud and other new scams target seniors. Seniors considering a reverse mortgage can check the Housing and Urban Development website at for a. but they share one common.
Reverse Mortgage Facts | NCOA – Reverse Mortgage Facts for Seniors;. Before considering one of these loans, it pays to know the facts about reverse mortgages. A reverse mortgage does not work the same as other home loans. A reverse mortgage, sometimes known as a Home Equity conversion mortgage (hecm), is a unique type of.
quicklist: title: Steer clear of reverse mortgage scams text: Elderly. In one scam, con artists recruit an innocent senior to be the fall guy in the.
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The FBI’s common fraud schemes webpage provides tips on how you can protect yourself and your family from fraud. senior citizens especially should be aware of fraud schemes for the following.
It is the reverse mortgage lender’s duty to perform due diligence and to disclose this information to you. In other cases, the fraud occurs when the perpetrator attempts to sell other products that will be paid for by a reverse mortgage. seniors will sometimes receive a pitch for home improvements services.
CHICAGO – While senior homeowners on the West. In January of 2015, Williams was one of the first to share her heartbreaking story with WGN. After convincing Williams to take out a reverse mortgage.