Reverse Mortgages Bakersfield CA
Belvidere Networking Enterprises
2437 Oak St
Kern Central Credit Union
2100 H Street
Maverick Residential Mortgage Inc
1901 Brundage Ln
Network Source Funding Inc
5001 California Ave Ste 215
Karpe Mortgage Inc
4040 Ming Ave Ste C
Everett Financial Inc
1109 Chester Ave
American Lending Network Inc
1701 Westwind Dr Ste 110
Open Mortgage LLC
500 East Truxton Avenue
Guild Mortgage Company
5405 Stockdale Highway
5201 Truxtun Ave Ste 100
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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