Friday, August 04, 2017

Retirees need to be wary of scams in refinancing mortgages

Retirees should be wary of mortgage refinancing scams, such as this story from Tidewater Virginia.  The victim lost her home, and putting the scammers in prison doesn’t get her home back.  

I would wonder if the same problem could exist with reverse mortgages touted to seniors, which could be discovered after passing by the estate. 

The scam seemed to be a weakness in an Obama administration loan modification program intended to help people with the housing crisis of 2008. 

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