What are the reverse mortgage scams taking place today?

What are the reverse mortgage scams taking place today?
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1 Answer

Answer :

Yes, there are reverse mortgage scams, as well as regular mortgage scams. You need to be careful who does your reverse mortgage, so you do not get scammed
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Related questions

What is the difference between a reverse mortgage and a standard mortgage?

Description : What is the difference between a reverse mortgage and a standard mortgage?

Last Answer : answer:Simply stated, mortgage is a loan to purchase a house, which is paid off over many years and costs many thousands af dollars in interest over the life of the loan. Once the mortgage is completely ... monthly payments, and the loan is paid off when the borrower dies or moves out of the house.

Once denied a reverse mortgage, can you apply again through another bank?

Description : Once denied a reverse mortgage, can you apply again through another bank?

Last Answer : I don’t see why not. Each bank makes their own decision on weather to lend or not. That doen’t mean they’ll make a different decision though.

reverse mortgage

Description : reverse mortgage

Last Answer : Find out here > http://ww2.reverseourmortgage.com/022/?ab_id=t0024_n2&mktsid=RoMsmbing08102010ms811&kw=Reverse%20Mortgage

Reverse Mortgage Calculator?

Description : Reverse Mortgage Calculator?

Last Answer : Reverse Mortgage CalculatorUse this calculator to help determine the balance of a reversemortgage. This calculator is specifically designed to show you howthe outstanding balance of a reverse mortgage can rapidly grow overa period of time.

Is a Reverse Mortgage Safe?

Description : Is a Reverse Mortgage Safe?

Last Answer : Taking out a reverse mortgage is easy. The requirements are few and the sum of money you can borrow depends on your age and the unpaid balance of the original home loan. The reverse mortgage loan will be ... that a reverse mortgage is not as safe as it sounds.1. Understand that to qualify for a

Can you describe to me what a reverse mortgage is?

Description : Can you describe to me what a reverse mortgage is?

Last Answer : A reverse mortgage is an instrument that uses the equity in a senior citizen's house to provide him or her with income. Once the homeowner dies, the lender gets the house.

What is a HUD reverse mortgage?

Description : What is a HUD reverse mortgage?

Last Answer : A HUD reverse mortgage is a low-interest federally regulated loan that allows senior homeowners to convert a portion of the value in their home into tax-free cash. You can apply for one through an insurance company.

Where can I find a good reverse mortgage broker?

Description : Where can I find a good reverse mortgage broker?

Last Answer : MetLife Bank provides a lot of great information on reverse mortgages, including how to find a reverse mortgage broker. By simply providing your information, MetLife will send you an informational kit which includes a video.

What is a reverse mortgage broker?

Description : What is a reverse mortgage broker?

Last Answer : A reverse mortgage broker is someone who assists to qualify homeowners to borrow money against the value of their home. The mortgage payment is deferred until the homeowner dies or the house is sold.

Is it possible to still get a reverse mortgage loan with bad credit?

Description : Is it possible to still get a reverse mortgage loan with bad credit?

Last Answer : You can get reverse mortgage, but you must also realize that if you pass away or sell your house you do not get all of the money. They will take it and all the interest that goes with it.

What is a reverse mortgage loan, and where can I get one?

Description : What is a reverse mortgage loan, and where can I get one?

Last Answer : A reverse mortgage is a type of (lifetime morage) for people the ages of 62 and over. It allows the homeowner to access a portion of their equity. I was always told it wasent a good idea.

Where can I find out about reverse mortgage financing?

Description : Where can I find out about reverse mortgage financing?

Last Answer : Reverse mortgage financing is where you are paid per month and when the house is sold you then pay back all the money that was borrowed. In order to get more information about reverse mortgages ... local credit union or bank. If you are searching on-line check with your current mortgage provider.

What exactly is a reverse mortgage?

Description : What exactly is a reverse mortgage?

Last Answer : A reverse mortgage is actually an equity loan. You don't have to actually pay it until you yourself lose custody of the house - when selling, in which you use the money gained to pay it off, after you die, in which the heirs pay it off, etc.

What is the formula for calculating a reverse mortgage?

Description : What is the formula for calculating a reverse mortgage?

Last Answer : Getting the reverse mortgage on your home entails finding the area the home is located, the amount of the mortgage owed on the home, and the estimate of the home value. It usually helps elderly clients if their home value is significantly more than the mortgage owed, if any.

How can one most easily benefit from reverse mortgage marketing?

Description : How can one most easily benefit from reverse mortgage marketing?

Last Answer : Reverse mortgage is a loan provided to a home owner with payments provided based on home equity. The best way to benefit from this would be for a retired person or couple who might have high equity paid up with low mortgage balance. This would afford them to lower the monthly payments significantly!

Where can I get a reverse mortgage and more facts on it?

Description : Where can I get a reverse mortgage and more facts on it?

Last Answer : In order to get more in depth or detailed facts about reverse mortgage you will probably want to consult your mortgage broker. They will be able to give you up to date and factual information. Most ... that you need, but some websites such as hud.gov should help you with any questions you have.

Where can I find information about american reverse mortgage.?

Description : Where can I find information about american reverse mortgage.?

Last Answer : American Reverse Morgage company is a company based out of FL that works with seniors to use the equity in their homes. This company only provides services in reverse mortgage and ... links to various companies and websites that will provide more information about reverse mortgages in general.

Where can I learn about liberty reverse mortgage?

Description : Where can I learn about liberty reverse mortgage?

Last Answer : You can learn about liberty reverse mortgage from any local tax consultant or by finding it on a website which deals specifically with liberty reverse mortgage.

How do you define reverse mortgage?

Description : How do you define reverse mortgage?

Last Answer : A reverse mortgage is defined as a type of mortgage in which the homeowner is allowed to borrow money against their house's value. The repayment is not required until the home is sold or the ... The house is basically collateral, and has to be sold to pay the mortgage when the homeowner dies.

Reverse mortgage senior citizens?

Description : Reverse mortgage senior citizens?

Last Answer : A reverse mortgage is an additional loan taken out against the equity already paid into your home. To qualify for a reverse mortgage you must be aged 62 to older and occupy the home as your primary residence.

Is getting a reverse mortgage a good idea?

Description : Is getting a reverse mortgage a good idea?

Last Answer : A reverse mortgage is for older individuals to borrow against their homes. This allows them to not have to sell there home and the bank to make monthly payments to the owner.

Can I get a reverse mortgage through my bank?

Description : Can I get a reverse mortgage through my bank?

Last Answer : Many lenders do not offer reverse mortgages and without knowing who your bank is, it is difficult to say if they are a good choice. You may want to start there and look for their recommendation if they do not offer them.

Does WellsFargo offer training on how does a reverse mortgage work?

Description : Does WellsFargo offer training on how does a reverse mortgage work?

Last Answer : No, Wells Fargo doesn't offer training on reverse mortgages. They might be able to explain to you what they are but it's not a class per se. To learn about reverse mortgages visit http://www.aarp.org/money/credit-loans-debt/reverse_mortgages/.

A legal agreement between the lender and borrower where real estate property is used as a collateral for the loan is termed as ________ A. Mortgage B. Reverse Mortgage C. Repossession D. Refinance

Description : A legal agreement between the lender and borrower where real estate property is used as a collateral for the loan is termed as ________ A. Mortgage B. Reverse Mortgage C. Repossession D. Refinance

Last Answer : A. Mortgage Explanation: A loan that is secured by property or real estate is called a mortgage. In exchange for funds received by the homebuyer to buy property or a home, a lender gets the promise of that buyer to pay back the funds within a certain time frame for a certain cost.

A financial product which provides senior citizens with funds against their home equity is referred as _______ A. Mortgage B. Reverse Mortgage C. Repossession D. Refinance

Description : A financial product which provides senior citizens with funds against their home equity is referred as _______ A. Mortgage B. Reverse Mortgage C. Repossession D. Refinance

Last Answer : B. Reverse Mortgage Explanation: A reverse mortgage or home equity conversion mortgage (HECM) is a special type of home loan for older home owners (62 years or older) that requires no monthly mortgage payments. Borrowers are still responsible for property taxes and home owner‘s insurance.

Are scams and shams the same?

Description : Are scams and shams the same?

Last Answer : A scam is a deliberate con. A sham is something that is fake or pretend but it does not have the connotation of necessarily being deliberate. Different. For example: “Trump’s pretense of empathy for the working class is a sham.” “The Nigerian prince’s e-mail about hidden riches was a scam.”

Have you heard about porting scams?

Description : Have you heard about porting scams?

Last Answer : Asking your phone company about extra port out security could work pretty well, IF you make the added question/info something that no one but you knows, and that you will actually be able to provide ... as Who is your favorite Aunt? The answer is Commander Uhura or 7001 Penguins or something.

Why do spammers think we will buy their scams, dubious products and services, if they pose them as questions?

Description : Why do spammers think we will buy their scams, dubious products and services, if they pose them as questions?

Last Answer : They don't care. In fact, in most cases, the spammer is not the merchant. What usually happens is that someone (third party) is paid some small amount - maybe 10 cents per website to post crap like ... the spammer himself is just a piecework drone, and has no stake on whether the item sells or not.

Will Trump's history of business scams and screwups be revealed and overexposed before the Democratic party gets a chance to work him over?

Description : Will Trump's history of business scams and screwups be revealed and overexposed before the Democratic party gets a chance to work him over?

Last Answer : answer:@stanleybmanly - I think you are asking the wrong question. TO me, the question is Does anyone care? . It's been known for years what a sleaze Trump is. At this point, does anyone care ... too late to do anything about it? Suppose Trump was exposed as a criminal. Who do the republicans have?

How are these BS scams supposed to work?

Description : How are these BS scams supposed to work?

Last Answer : answer:Is this the painting in Canada? $100 for duties and shipping for $1500 is cheap. Don’t send them your Social Security Number, your mother’s maiden name or your first pet’s name. If you think it is a scam it probably is a scam.

What if all of those internet scams were actually real?

Description : What if all of those internet scams were actually real?

Last Answer : Ooh! If internet scams were real, my name would be Princess Nagamakdgam and I’d be worth countless millions of U.S. dollars.

Are test and keep product just scams?

Description : Are test and keep product just scams?

Last Answer : I wouldn’t trust it. Read the fine print and if you can, reviews from other users.

Scams?? Has anyone else received this?

Description : Scams?? Has anyone else received this?

Last Answer : 419. Inform the mods.

What's the best way to avoid scams and/or death when selling a car on Craig's List?

Description : What's the best way to avoid scams and/or death when selling a car on Craig's List?

Last Answer : Sell it on eBay. They have protections in place already.

What remote jobs worth looking into that are not scams?

Description : What remote jobs worth looking into that are not scams?

Last Answer : a normal office job that allows you to work remotely

Phishing scams .

Description : Phishing scams .

Last Answer : Answer : Phishing scams./ phishing scams.

what are common scams regarding the purchase of a product I have for sale?

Description : what are common scams regarding the purchase of a product I have for sale?

Last Answer : Need Answer

New York City Travel Tips: Avoiding Scams and Tricks?

Description : New York City Travel Tips: Avoiding Scams and Tricks?

Last Answer : New York is a concrete jungle where visitors may get lost,tricked and scammed. To have a safe and enjoyable visit to thismarvelous city, there are some basic things to keep in mind. Inthis travel ... . However, people will try to sell you ticketsright in the streets, and this is something that

What are some of the biggest work at home scams that I should avoid?

Description : What are some of the biggest work at home scams that I should avoid?

Last Answer : The biggest work at home scams are envelope stuffing and product assembly jobs. These scams are known to have a broken track record.

Are all psychics scams?

Description : Are all psychics scams?

Last Answer : No, not all psychics are scams. You can find out how to avoid them at www.qondio.com/avoiding-fake-psychics-and-psychic-scams

Are there any local real work from home jobs that do not require any investment that are not scams ?

Description : Are there any local real work from home jobs that do not require any investment that are not scams ?

Last Answer : A good work at home job would be selling on ebay. You can sign up to sell other people's stuff.

How To Avoid Survey Scams?

Description : How To Avoid Survey Scams?

Last Answer : Everyone has received email Propaganda that promises you can "get-rich-quick", but how do you know if you should believe what you are reading? Although making money may be essential for ... in your decision-making process since you should feel comfortable with the customer service you are receiving.

Work from Home Scams and How to Spot Them ?

Description : Work from Home Scams and How to Spot Them ?

Last Answer : For many, the ultimate career goal is to achieve a passive income. A passive (contine free earning) income is one which requires little to no work to achieve, leading to a whole range ... and achieve a passive income by simply promoting and selling other people’s things. (contine free earning)

“““.are 'attempts by individuals toobtain confidential information from you by falsifying their identity. (A) Phishing (B) Computer viruses (C) Spyware scams (D) Viruses (E) None of the above

Description : “““.are 'attempts by individuals toobtain confidential information from you by falsifying their identity. (A) Phishing (B) Computer viruses (C) Spyware scams (D) Viruses (E) None of the above

Last Answer : Phishing

_____are attempt by individuals to obtain confidential information from you by falsifying their identity: a) Phishing Trips b) Computer Viruses c) Spyware Scams d) Viruses e) Phishing Scams

Description : _____are attempt by individuals to obtain confidential information from you by falsifying their identity: a) Phishing Trips b) Computer Viruses c) Spyware Scams d) Viruses e) Phishing Scams

Last Answer : a) Phishing Trips

.....are attempts by individuals to obtain confidential information from you by falsifying their identity. 1) Phishing trips 2) Computer viruses 3) Spyware scams 4) Phishing Scams

Description : .....are attempts by individuals to obtain confidential information from you by falsifying their identity. 1) Phishing trips 2) Computer viruses 3) Spyware scams 4) Phishing Scams

Last Answer : 4) Phishing Scams

.....are attempts by individuals to obtain confidential information from you by falsifying their identity. 1 Phishing trips 2 Computer viruses 3 Spyware scams 4 Phishing Scams

Description : .....are attempts by individuals to obtain confidential information from you by falsifying their identity. 1 Phishing trips 2 Computer viruses 3 Spyware scams 4 Phishing Scams

Last Answer : 4 Phishing Scams

How to Detect Phishing Scams ?

Description : How to Detect Phishing Scams ?

Last Answer : How to Detect Phishing Scams Personal information is very important for many computer users, whether it's a username and a password or bank account details. The problem is that many people ... personal information for illegal purposes will be the least of your problems when you use the Internet.

How can we buy a home without taking out a mortgage? See details...

Description : How can we buy a home without taking out a mortgage? See details...

Last Answer : Yes you can sell one property and buy a new one that is equal or is less than the proceeds from the first. There maybe federal tax implications. But you don’t need to get a mortgage on the new property.

Would today be a good time to lock into an interest rate on my home mortgage? I am getting out of an interest only, variable loan and need to know if now is the time to pull the trigger?

Description : Would today be a good time to lock into an interest rate on my home mortgage? I am getting out of an interest only, variable loan and need to know if now is the time to pull the trigger?

Last Answer : From what I understand, Feds cutting interest rates dosen’t do much for mortgage rates. I was going to refinance but it just wasn’t worth it.