Reverse Mortgage Scams

Reverse Mortgage Information Scam

One of the most common types of reverse mortgage scam is being completed by companies who call themselves advisors or estate planners, and offer nothing more than information. If am individual or company says that it will help you find a reverse mortgage lender and provide you with basic information about the loans for a fee, run the other way. Even if they say they are a "consumer protection group". HUD provides the same facts and services at no charge. HUD is investigating any company that practices this fee-based service. Senior home owners and their families who have fallen prey to this scam have lost thousands of dollars.

Reverse Mortage Information, estimates, and proffesional advice from loan officers is free. Do not pay for any of these services. HUD provides access to the same type of information on reverse mortgages free of charge through an information line: (888) 466-3487. You can also visit their website at HUD.gov and visit the Reverse Mortgage links on the right hand side for more free info.

You can also call 1-888-9REVERSE (1-888-973-8377) to speak with direct lender.

Other Reverse Mortgage Scams

Shady Reverse Mortgage Counseling - Beware of Reverse Mortgage Counselors with a hidden agenda. Read more...

Reverse Mortgage Foreclosure Flipping - A more elaborate scam where seniors are purchasing foreclosures or distressed properties with a Reverse Mortgage. Read more...

Reverse Mortgage Repair Scams - Repairs may be required to complete a reverse mortgage, however be wary of who you choose to do the work. Read more...