Portland, Ore. FBI Issues Release Warning of ‘Reverse Mortgage Frauds’

The Portland, Ore. office of the Federal Bureau of Investigation (FBI) has issued a press release aimed at highlighting instances of elder financial fraud, singling out real estate more broadly and reverse mortgages specifically as among some of the most persistent scams targeting senior citizens. “Seniors are a prime target because they tend to be financially stable, to be trusting, and to be reluctant to say ‘no,’” the release reads. “We find this particularly true when it comes to real estate fraud schemes. Reverse mortgage frauds, also known as Home Equity Conversion Mortgages, are one of the most popular real estate scams we see.” To continue reading the rest of the article, please click on the source link below: https://reversemortgagedaily.com/2021/07/07/portland-ore-fbi-issues-release-warning-of-reverse-mortgage-frauds/