Reverse Mortgage Scams

check 150x150 Reverse Mortgage ScamsAfter years of mortgage payments, you finally own your home.  What a great feeling!  Scammers want to capitalize on this good feeling by allowing you to convert part of your equity to cash without having to sell.  Reverse mortgages sound very appealing, however there are some unscrupulous people out there charging excessive up-front fees for their services.  If you are considering a reverse mortgage, BBB encourages you to take the time to understand the requirements, consider all aspects involved, and factor in all the costs associated with a reverse mortgage.   BBB recommends you learn about free resources provided by the Department of Housing and Urban Development so that you can make an informed decision.  For more information on reverse mortgages contact your BBB.

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About Trisha Sefakis

I started at BBB|Cincinnati in 2004 as the Database Coordinator, I am now the Manager of Digital Media.