Reverse Mortgages Bakersfield CA
American Lending Network Inc
1701 Westwind Dr Ste 110
Everett Financial Inc
1109 Chester Ave
Maverick Residential Mortgage Inc
1901 Brundage Ln
Pinnacle Financial Corporation
5601 Truxtun Ave
American Pacific Mortgage
5100 California Ave Ste 101
Belvidere Networking Enterprises
2437 Oak St
Kern Central Credit Union
2100 H Street
Open Mortgage LLC
500 East Truxton Avenue
First Magnus Financial Corp
5555 Business Park S Ste 200
Sunset Mortgage Company Lp
5201 California Ave Ste 103
With the recession in full swing and unemployment rising, unscrupulous predatory lenders are taking advantage of seniors. One of the areas in which they are particularly insidious is selling reverse mortgages.
There are a host of reverse mortgage scams that are plaguing our senior citizens and steps are being taken to stop it.
According to HUD, deceptive practices and allegations of high-pressure sales tactics are being directed at senior citizens under the guise of a helpful and legitimate reverse mortgage. Borrowers also run the risk of being steered into inappropriate loans and annuities by sales agents and insurance brokers who could be working together without disclosing that relationship to the borrower.
For more information on reverse mortgages for seniors visit HUD.
Our seniors are particularly vulnerable these days to the scams that pervade our society. Given the fact that so many seniors may be in financial trouble, they become victims of relentless individuals and companies that seek to prey on their immediate financial concerns.
If your parents are considering a reverse mortgage, accompany them when they seek advice from a counseling agency so that you can assist them with any and all questions relating to reverse mortgages.
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