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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 ...
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 ...
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 ...
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 ...
A recovery room scam is a form of advance-fee fraud where the scammer (sometimes posing as a law enforcement officer or attorney) calls investors who have been sold worthless shares (for example in a boiler-room scam), and offers to buy them, to allow the investors to recover their investments. [92]
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