With the technology available in the 21st century—along with the COVID-19 pandemic—financial exploitation and fraud are at an all-time high. In fact, the FBI has determined that elder fraud has generally increased over the past year and that elder fraud is an FBI priority. Especially for the elderly, their diminished…
Caution is urged when considering a reverse mortgage as a solution to financial problems during retirement years. Television commercials targeting seniors leave out most of the unpleasant parts of a reverse mortgage. Rates and fees are extremely high and the homeowner is still responsible to pay property taxes, insurance and…
How big a problem is impossible to say, because hard data is scarce. “The reality is that we don’t even have national data on the scope of the problem,” Sen. Claire McCaskill (D-Mo.), said at the hearing. It has been found that much of the financial abuse involving seniors goes…