Reverse mortgage scams: How to spot them, avoid them and lenders you can trust

Not every sales pitch for a reverse mortgage should be worth your time. People aged 62 or older are the target demographic for reverse mortgages — a tool that can tap their home’s equity for cash. But they should be wary of scams amid the legitimate reverse mortgage products available. In general, older people are more vulnerable to financial fraud because they live alone, according to the National Adult Protective Services Association (NAPSA) and the Women’s Institute for a Secure Retirement. …