Most of us have seen the commercials touting the many benefits of reverse mortgages. When they became more popular and well known, many believed these financial products were the solution for senior citizens in need of a cash influx. Now, though, there are new worries that some government agencies insist are putting the elderly at risk. In fact, in the past few years, there have been substantial changes in reverse mortgages that are “more complex” with higher “long term costs”, according to a … [Read more...] about Are Reverse Mortgages Putting Seniors at Risk?
Earlier this summer, the Consumer Financial Protection Bureau hosted its first annual National Consumer Protection Week and as part of that presentation, there was special attention paid to what the government watchdog groups calls “a particularly troubling and challenging consumer protection issue”. As elder law attorneys, we see this far more often than we'd like. It's difficult to have a client sit across the desk from us and tell us about the financial exploitation they've endured. Worse, … [Read more...] about Elder Financial Scams Growing