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A Risky Lifeline for the Elderly Is Costing Some Their Homes

Business  (tags: reverse mortgages, preying on elderly, widows lose homes, foreclosure, deception, high risk, so-called free money, Consumer Financial Protection Bureau, banks, smaller lenders )

- 2013 days ago -
Some lenders are aggressively pitching loans to seniors who cannot afford the fees associated with them, not to mention the property taxes and maintenance. Others are wooing seniors with promises that the loans are free money that can be used...

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Roger G (154)
Tuesday October 16, 2012, 12:57 pm
noted, thanks !

Talya H (10)
Tuesday October 16, 2012, 4:47 pm
We need to take care of our elders better!

Judy C (97)
Tuesday October 16, 2012, 11:00 pm
You're right, Talya. This is a big problem in this society, with its obsession with youth. These shallow values will not lead to any good without the balance of respecting and learning from our elders. This exploitation is sickening.

James Merit (144)
Wednesday October 17, 2012, 1:27 am
Thank you!

Sheryl G (363)
Wednesday October 17, 2012, 1:00 pm
This is been a long time bone of contention for me. Is bad enough a person looses their spouse but then be sent packing out of their home due to these unsrupulous practices is plan criminal. Why this is allowed is because we do not have a Government that is working for anyone except the criminals. It certainly isn't protecting our Elders in a time of life they of all people should be protected. Free markets and Capitalism should not be about preying on people, that isn't what it was suppose to be all about, is why regulations are and were needed. Thank you for the exposure given on here, I hope more people at least become aware of it to protect themselves. I wish those TV ads would be removed I want to throw my shoe at it, but then it would hurt my TV and do nothing to the criminals that run the ads.

David Menard (43)
Wednesday October 17, 2012, 3:28 pm
Look at all the celebs who sell themselves to the bankster pimps hawking their snake oil loans to the elderly pathetic. Banksters wont be happy until they take everybody's home

Kathleen R (138)
Wednesday October 17, 2012, 4:31 pm
read & noted

Aletta Kraan (146)
Wednesday October 17, 2012, 6:26 pm
Noted , glad our taxes are paid .

Beverly C (0)
Wednesday October 17, 2012, 11:07 pm
All people, especially the elderly and those who are ill, are preyed upon by so many fraudulant companies/scam artists. It's shameful that these people and companies prey on those who are worried and desperate. -We must get the word out as to what EVERYONE should check before giving a person or company a moment of our time, let alone access to our bank accounts, credit report, personal information, etc.
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