Government
FBI Reports Spike in Reverse Mortgage Fraud
The United States Federal Bureau of Investigation recently reported that several agencies around the country have been actively working to defraud the equity of senior citizens via a reverse mortgage. FBI and Department of Housing and Urban Development-Office of Inspector General (HUD-OIG) reporting indicate that u nscrupulous l oan officers, mortgage companies, investors, loan counselors, [...]
California Reverse Mortgage Information
The California Reverse Mortgage climate is continuing to grow strong. After a record numbers and as credit becomes easier to obtain expect many more reverse mortgages to be completed this year. With Los Angeles and Orange County leading the way rest assured that the impact of the economy has helped to erode much of the [...]
Minnesota Seniors to get Reverse Mortgage Protection
The legislation would allow seniors to rescind a reverse mortgage agreement within 30 days and would require seniors seeking a reverse mortgage to get independent counseling on the risks and benefits of the loan.