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Flipping Fraud. In this reverse mortgage scam, smooth-talking realtors seek out seniors and get them to take out a reverse mortgage to buy a lower-cost house, without having to put any money down. Unfortunately, these homes are often distressed properties that have been given a facelift but are really in poor condition.
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What you should know about reverse mortgages – But if you’re a senior without sufficient savings, a reverse mortgage may be. or when the whole investment is a scam aimed at tricking the senior out of his or her equity. Why not get an ordinary.
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Don't be Suckered into Buying a Reverse Mortgage – Consumer. – A reverse mortgage is a special type of home equity loan sold to homeowners aged 62 and older. It takes part of the equity in your home and converts it into cash payments. The money you get is usually tax-free and generally won’t affect your Social Security or Medicare benefits.
Reverse Mortgage- Wise Investment or Stupid Decision? – But is a reverse mortgage really as good as advertised? Or is it a ripoff that separates you from the hard earned equity you've built up over.
What Is a Reverse Mortgage? | DaveRamsey.com – Chances are, you've seen those enticing commercials touting the benefits of a reverse mortgage. “Let your home pay you a monthly dream retirement income!
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