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9. Reverse Mortgage. Reverse mortgages, or home-equity conversion mortgages, increased by a staggering 1,300% between 1999 and 2008 (the property crash). They're still a popular target for ...
The FBI is warning senior citizens to protect themselves with reverse mortgage deals on the sharp increase and the number of scams increasing along with them. Since 1999, reverse mortgages have ...
Reverse mortgages have gained a reputation thanks to some scams that target unsuspecting seniors. Even legitimate companies have used dishonest marketing to try to get homeowners to take out ...
Lottery scams; Medical billing scams and unnecessary medical care; Predatory or unnecessary lending (e.g. reverse mortgages) Tarmac scams [4] Technical support scam and IRS impersonation scams, in which an elderly person may be cajoled or threatened into paying large sums of money in the form of bank transfers or gift cards
Reverse Mortgage Scams. What to look out for: Many people's life savings are tied to the equity in their homes, a prime target for thieves. Reverse mortgages are a popular way for seniors to take ...
The FBI Internet Crime Complaint Center (IC3) received more than 101,000 reports of scams and fraud against people ages 60 and older in 2023, with the number of older Americans reporting losses of ...
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