Sentences with phrase «reverse mortgage practices»
Reverse Mortgage Alert Informational website to inform consumers about unethical reverse mortgage practices.
http://mortgage-x.com/ Not exact matches
Shortly after her husband died two years ago, Mary Lacey Gibson, a San Juan Bautista, California - based certified financial planner who owns her own practice, began applying for a reverse mortgage on her home even though she had no real need for the loan.
Enhancing its housing counseling programs for reverse mortgage loans, and holding lenders accountable for lax or unscrupulous practices can help protect senior homeowners.
However, some lenders» practices have raised concerns; typical criticisms about consumer protections for reverse mortgages include:
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Most negativity about reverse mortgages stemmed from certain practices in the 1980s, when the product was not yet fully monitored by the U.S. Department of Housing and Urban Development (HUD).
Reverse mortgage counselors are required to follow specific practices, which are designed to ensure you receive quality counseling services and are protected against fraud and abuse.
Because older persons can be vulnerable to fraudulent practices, before applying for a reverse mortgage the program requires that persons receive free reverse mortgage housing counseling from a HUD - approved reverse mortgage counseling agency.
Reverse mortgage salesmen also fall into two categories, those who practice deception and those who don't.
Most negativity about reverse mortgages stemmed from certain practices in the 1980s, when the product was not yet fully monitored by the U.S. Department of Housing and Urban Development (HUD).
The federal government has put in place several safeguards in the reverse mortgage loan program to protect and shield homeowners from predatory lending practices.