There were a total of 298 consumer complaints submitted to the Consumer Financial Protection Bureau (CFPB) in 2024 that were related to the reverse mortgage industry, according to a database ...

Billions lost to elder scams annually: Financial crimes against seniors surged 46% in 2024, according to the FBI. A title ...

According to the company, a scammer tried to persuade the man to take out a reverse mortgage in an effort to steal his home ...

Make sure you understand all the costs, terms and conditions before applying for a reverse mortgage. Reverse mortgages are widely advertised to older adults as a way to convert part of the equity in a ...

Government housing officials report that 46,000 reverse-mortgage borrowers under the government's insured loan program were delinquent on their loans as of July. This total is more than 50 percent ...

Over the last decade, reverse mortgages have been marketed as an easy way for seniors to cash in their home equity to pay for living expenses. However, many have learned that improper use of the ...

Not all reverse mortgages are scams, but people exploring them should be extremely wary. Many reverse mortgage scams — carried out by unscrupulous parties from financial advisors to contractors — can ...

My last couple of posts, beginning with The Mortgage is Dead; Long Live the Reverse Mortgage, have extolled the virtues of the improved FHA HECM reverse mortgage products. Given that the typical ...

For every problem there’s a solution—sometimes more than one.

A reverse mortgage must be paid back when the borrower dies, moves out of the home or stops fulfilling the terms of the agreement, such as paying property taxes. You might choose to get out of a ...

Reverse mortgage lenders are beginning to require senior borrowers to qualify for loans by proving that they have enough money to continue paying property taxes, home insurance premiums, and other ...

Editor’s note: This is part seven of an ongoing series throughout this year focused on helping older adults navigate the financial difficulties of gray divorce. See below for links to the other ...