is reverse mortgage a ripoff

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Would a reverse mortgage by any other name smell. sweeter? – The name problem is two-fold. Obviously, reverse mortgages have been marred by reputation issues, and some uninformed consumers associate the loan with a scam that targets the elderly (and really,

Expensive surprise with reverse mortgage – When I applied for a reverse mortgage in May 2013, my home was appraised at $252,000. I had a mortgage balance of about $142,963. After all of the paperwork was signed, I received $9,497. The total.

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Reverse Mortgage Lawsuit – Lawyers and Settlements – Among the complaints about information on reverse mortgages seniors say they are given are allegations that seniors were not informed of the.

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Don't be Suckered into Buying a Reverse Mortgage – Consumer. – Reverse mortgages can use up all the equity in your home, leaving fewer assets for you and your heirs. Borrowing too soon can leave you without resources later in life.

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Advance-fee scam – Wikipedia – An advance-fee scam is a form of fraud and one of the most common types of confidence tricks.The scam typically involves promising the victim a significant share of a large sum of money, in return for a small up-front payment, which the fraudster requires in order to obtain the large sum.

Reverse Mortgages Are SCAMS! The Reverse Mortgage Itself is NOT a Scam. – If you are talking about the most amount of money in your hands because you can’t decide if you want to stay or go, the reverse mortgage is not the right choice. If your goal is staying in a home you love for the rest of your life and you just want some additional income or cash, it might make more sense.

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Reverse Mortgage Scams | Is a Reverse Mortgage a Ripoff. – A reverse mortgage is actually called a Home Equity Conversion Mortgage or HECM. This is the first piece of evidence you can use to determine whether something is a scam or not. This is the first piece of evidence you can use to determine whether something is a scam or not.

Don't be Suckered into Buying a Reverse Mortgage – Consumer. – A reverse mortgage is a special type of home equity loan sold to homeowners aged 62 and older. It takes part of the equity in your home and converts it into cash payments.

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