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The Home Equity Theft Reporter: Miami Feds Pinch Four In Alleged Refinance Ripoff; Reverse Mtg Proceeds Illegally Diverted, Existing Liens Remain Unpaid; Some Seniors Face F’closure

In an equity theft scam, the perpetrator will purchase a home that is in foreclosure or distressed The home is then sold to a senior citizen, who takes out a reverse mortgage after occupying the In some cases, the loan is simply not right for you. In others, a reverse mortgage may fit your need but.

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Balance on existing mortgage loans. Interest rates. Frequently Asked Questions Regarding Reverse Mortgage Eligibility. A "shortfall" means that the reverse mortgage loan would not generate enough loan proceeds to cover the existing mortgages on the home.

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Miami Feds Pinch Four In Alleged Refinance Ripoff; Reverse Mtg Proceeds Illegally Diverted, Existing Liens Remain Unpaid; Some Seniors Face F’closure In Miami, Florida, The Miami Herald reports: Three South Florida mortgage professionals conspired with a Pittsburgh title agent to defraud senior citizens through a reverse mortgage scam, according to allegations unveiled Wednesday by U.S. Attorney Wifredo Ferrer.

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Paying Off Existing Liens – No More Monthly Mortgage Payments. A Reverse Home Mortgage is not the only way to cash in on your home in retirement. While home equity interest rates can be lower than those charged on Reverse Mortgages, the primary disadvantage of home equity loans is.

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Ross Ulbricht, the alleged creator of that anonymous contraband bazaar, now "All of the searches and seizures are predicated upon the government’s infiltration of the alleged ‘silk road servers,’" reads the memo. But despite the fact that Ulbricht still faces a separate murder-for-hire case in Maryland.

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