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Loan Modification

: Mortgage Lender Implode-o-Meter

Elderly Homeless Used in Reverse Mortgage Scam

By Implode-Explode Heavy Industries

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"The Federal Housing Administration (FHA) is planning to require financial assessments of all HECM borrowers to ensure that they have sufficient capital to pay taxes and insurance on their homes, according to Vicky Bott, deputy assistant secretary for single family housing at the housing agency. She spoke to RMD briefly after completing remarks last week at a Midwest conference on fraud issues, where industry professionals examined a wide-range of scams rippling through the troubled housing market today."

Full post as published by Mortgage Lender Implode-o-Meter on May 04, 2010 (boomark / email).

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