U.S. Sen. Claire McCaskill wants more protection for senior citizens who are targeted by unscrupulous mortgage lenders. Specifically, she’s concerned about lenders selling reverse mortgages.

McCaskill is frustrated with companies sending misleading marketing materials that aim to rope elderly folks into an expensive loan that can leave them penniless.

A reverse mortgage is a loan against your home that you don’t have to pay back as lengthy as you live there. Unlike a regular mortgage, with a reverse mortgage, your debt rises and your equity

Post from: Reverse Mortgage Loan Blog

McCaskill urges Nixon to go after scam reverse mortgage marketers

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