State of Washington Seniors Warned to Watch for Fake Reverse Mortgage Sales People

The Washington State Attorney General’s Office is joining the Washington State Departments of Veterans Affairs and Revenue in warning consumers about complaints they’ve received from seniors who say they’ve received calls from solicitors posing as state agents for a senior property tax relief program. The Department of Revenue learned Washington seniors are complaing that they … Read more

I’d Like a List of Reverse Mortgage Counselors to Help Me. – Pat

“Dear Steve, 70 years old, unemployed for 2 1/2 years, unemployment run out. 14 months left on mortgage, 3 credit cards in collections, 8 medications, medicare d which is going up, 2 strokes, little damage to self. have money from teaching pension going into account to pay mortgage and irs, state taxes, property, home, life, … Read more

FTC Tries to Protect Consumers From Getting Screwed With a Reverse Mortgage

Federal Trade Commission staff has filed comments with the Federal Financial Institutions Examination Council (FFIEC) supporting a measure designed to protect consumers from deceptive claims and to help them make better-informed decisions about whether to obtain a reverse mortgage. Reverse mortgages, typically available only to borrowers age 62 or older, allow them to “spend down” … Read more