Avoid Reverse Mortgage Scams

False Document Scams

Some scam artists simply mail letters to older adults who hope to obtain reverse mortgages. In these letters, the scammers request money to provide seniors with copies of their deeds or information about reverse mortgages. Why is this a scam?

1. Deeds are already on file with the homeowners’ lenders.
2. The same reverse mortgage information is very possibly available for free from the U. S. Department of Housing and Urban Development (HUD).
3. Both “A” and “B” are correct.

“C” is the best answer. If you encounter this situation, check with your lender or HUD instead of sending money in payment for these items.