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Upselling risks: The Federal Trade Commission warns that some reverse mortgage providers also try to convince seniors to buy other financial products with the money they get from the loan. These ...
There's a lot of misinformation about reverse mortgages -- and Tom Selleck can only answer so many questions in 30-second TV spots for AAG. Reverse mortgages can be a lifeline to seniors who are...
Many aggressive reverse-mortgage lenders falsely state that retirees can't lose their homes with a reverse mortgage. ... but they can also be extremely dangerous and put your home at risk. Before ...
While these reverse mortgages can provide much-needed financial aid, they have notable downsides. Here are 4 reasons to think twice before proceeding.
A reverse mortgage is a mortgage loan, usually secured by a residential property, that enables the borrower to access the unencumbered value of the property. The loans are typically promoted to older homeowners and typically do not require monthly mortgage payments.
Risks: Victims can lose their homes, or be subject to excessive fees. Helpful resources: The Consumer Financial Protection Bureau has issued a consumer advisory about the dangers of reverse mortgages.
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