0.gif (16248 bytes) Whenever money and property are involved, you'll find many people are ready to participate. There are a few things to watch for as you purchase or refinance your home loan. Read about all of the latest scams in the market and most importantly learn how you can avoid them before it's too late.
Online Application Mortgage Glossary The Latest Scams Contact ClickForFunds.com
Lines View our most current Interest Rates Lines
Curve
left bottom View the ClickForFunds.com 9/11 Animation Tributeright bottom right bottom right_bottom_03.gif (146 bytes) Line right bottomright bottomright_bottom_03.gif (146 bytes)
placer placer placer placer_02_03.gif (435 bytes) placer
Read all of the latest Testimonials from our most recent Customers. more.....
line
Arrow Read the ClickForFunds.com Mission Statement.
Line
Arrow Read about all of the latest scams in the market and how to avoid them
Line
Arrow Learn how Credit Works and how it can have an impact on your Finances.
Line
Arrow Read the ClickForFunds.com Privacy Policy.
Line
Arrow Visit the ClickForFunds.com Memorial to 9/11/01.

Line Line Line
Lines

Spacer
Your Business
Real Rates, Real Loans, No Gimmicks!
pixel
Back to Mortgage Scams Main Page

Reverse Mortgage Scams Averted
A new program to help elderly homeowners find reputable reverse mortgage lenders and counselors has been launched by the National Center for Home Equity Conversion (NCHEC).

Reverse mortgages convert home equity into cash with no repayment for as long as borrowers live in their homes. That's a great idea for many equity-rich, but cash-poor retirees. According to NCHEC director Ken Scholen, "Scams and ripoffs are beginning to appear in this market, but now we have a way to recognize lenders and counselors who pledge to uphold strict ethical standards."

To qualify as "NCHEC-Preferred," lenders and counselors must agree to a code of conduct, and must give a copy of that code to each consumer upon initial contact. The code requires lenders to present all homeowner options, including a range of twelve reverse mortgage choices and a variety of alternatives to reverse mortgages.

The options and alternatives are presented in a 13-page report, "Personal Reverse Mortgage Analysis." Lenders are advised not to charge a fee for the reverse mortgage analysis. (Source: David Demko.)

Back to Mortgage Scams Main Page

© Copyright ClickForFunds.com All rights reserved.
Click here to read the ClickForFunds.com Statement of Privacy.
Website Design and Graphics by Michael P. Phillips.