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Seniors lose more money by far to scams than any other demographic, with the median loss totaling $350, the Better Business Bureau found. And not surprisingly, there has also been a tide of ...
The FBI Internet Crime Complaint Center (IC3) received more than 101,000 reports of scams and fraud against people ages 60 and older in 2023, causing seniors to lose over $3.4 billion. And those ...
Green Mirage scammers have impersonated more than 400 mortgage institutions and caused hundreds of thousands of dollars of losses to deceived homeowners, many of whom only learn of the fraud when ...
9. Reverse Mortgage. Reverse mortgages, or home-equity conversion mortgages, increased by a staggering 1,300% between 1999 and 2008 (the property crash). They're still a popular target for ...
Mortgage elimination is a type of mortgage fraud in the United States.In this scam, the promoter first convinces a mortgage holder that the debt that has been contracted is invalid or legally unenforceable, usually due to a combination of alleged technicalities in the note, deed of trust, or other loan documentation signed; the promoters often link their rationale for debt elimination to ...
When seniors apply for a mortgage, lenders look at the same financial criteria as they do for any other borrower, including credit history and score, debt-to-income (DTI) ratio, income and other ...
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