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'Scams' Category Archives

Reverse Mortgage for Veterans? (VA Reverse Mortgages)

   4 comments
Question from our reader: "We have a reverse mortgage, but we were never told that there was a reverse mortgage for veterans. We have quite a bit of equity in our home. Can we refinance our current reverse mortgage to a VA reverse mortgage?" Hi Debbie, FHA and VA don’t offer any loans.  HUD through FHA insures loans...
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Downright Despicable (and illegal) Reverse Mortgage Advertising Scam

   no comments
Downright Despicable (and illegal) Advertising Every once in a while we run into advertising that we feel is somewhat misleading or questionable.  Then there are times we see things that are downright misleading and illegal and we feel we should bring those to people’s attention so that borrower’s and their families will not fall prey to bad actors.  I was...
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The Reverse Mortgage Itself is NOT a Scam.

   8 comments
Comment from our reader: I am a banker and I see everyday deceived elderly customers who get fooled by these "reverse mortgages", they end up losing everything and put their heirs in jeopardy. The reverse mortgage is nothing but a scam! - Tim Hi Tim, I've been a mortgage banker for over 40 years and during that time I...
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