Homeowners beware! Another potential source of financial scam is through reverse mortgage scams. Direct mail pieces, emails, even TV ads, promote that these “financial advisors” can exponentially increase the potential monetary value of your home or property. Sometimes these written pieces seem official and appear to be written “on behalf” of an official from your county, like The County Assessor. This letter may state the assessed value of the property and give the homeowner the chance for a reassessment of not only the property value, but also the taxes associated with it. These con artists use public information and twist it through false advertising into a financial scam to get you to provide them with funds.
For more information on reverse mortgage scams, investment schemes and other types of fraud targeting the elderly, be sure to visit our Resources page to receive a free copy of our book, Senior Shakedown: The Unknown Dangers of Getting Old, and How to Protect Your Loved Ones.
If you or someone you love needs assistance with Elder Care law issues, call 856-281-3131. Let us help ease your stress and give you a plan.