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Consumer advisory: Three steps you should take if you have a reverse mortgage

Feb 9 2015 By Nora Dowd Eisenhower Reverse mortgages are a type of loan that allows homeowners, 62 and older, to borrow against the accrued equity in their homes. Reverse mortgages can help some older homeowners meet financial needs in retirement. Most reverse mortgages today are federally insured through the Federal Housing Authority’s (FHA) Home … Read more

Home Equity Conversion Mortgage (HECM) Reverse Mortgage Fraud to Watch For

Here is an alert out today about Home Equity Conversion Mortgage (HECM) fraud. The HECM program, which allows seniors age 62 and older to withdraw some of the equity in their homes, is the only reverse mortgage program insured by the U.S. government (through the FHA). “The most troubling aspect of HECM fraud is that … Read more