TITLE

Sounding a Warning on HECM Fraud Risks

AUTHOR(S)
Sichelman, Lew
PUB. DATE
February 2012
SOURCE
National Mortgage News;2/27/2012, Vol. 36 Issue 22, p6
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article focuses on the way to help prevent the fraud risk in reverse mortgage loans. It says that the seniors should understand the nature of the reverse mortgage, in which further education is needed if they does fully understand its nature. It states that the real beneficiary of the loan should always be the senior. It also mentions that if a senior borrowers are being capitalized by loan officers, the adult protection services agency should be contacted.
ACCESSION #
72881626

 

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